Yangtze announces first quarter results

18 May 2004

Yangtze Telecom Corp, a provider of SMS and voice information services to Chinese fixed line and mobile customers, has reported revenues of CAD519,000 (USD395,000) for the first three months of 2004, an 87% rise on the corresponding period of 2003. Yangtze, which is headquartered in Hubei province but registered in Canada, said CAD419,000 of the total was generated by the provision of mobile value added services. Net losses reached CAD112,000 due to higher marketing costs and increased expenses associated with expansion. The company claims 281,000 active users of its services across China.