Just like you never want to hear a doctor say "oops" in the operating room, you never want to see a going-concern statement in a financial report about a company you own. Accountants throw these in when they've been over the books, talked to customers, and checked the horoscopes and have concluded there is "substantial doubt" about a company's ability to remain in business. In short, don't blame the accountants if the company files for bankruptcy protection.

You¿d reckon that a going-concern statement would be enough to send investors running to the exits, but it's not. True, many large institutions automatically bail when an existing company gets slapped with one of these, but many individuals (often wrongly) take a chance they know more than the bean counters.

During the tech boom of the late 1990s, many companies actually went public even though they had been hit with going-concern statements. Many of those companies subsequently disappeared. Enough said.

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Friday, June 13, 2008

TechFaith Announces Filing of Form 20-F With the SEC

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Comtex

BEIJING, Jun 13, 2008 (MARKET WIRE via COMTEX) ----China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF), an original developed product provider focused on research and development of cell phone solutions, has filed its annual report on Form 20-F for the fiscal year ended December 31, 2007 with the U.S. Securities and Exchange Commission, and has posted this document on its investor relations website at http://ir.techfaithwireless.com. TechFaith will provide a hard copy of its annual report on Form 20-F for the year ended December 31, 2007, which contains its audited consolidated financial statements, free of charge, to its shareholders and ADS holders upon request. Requests should be directed to China TechFaith Wireless Communication Technology Limited, No.10 A, Tower D2, IT Park, Electronic Town, Jiu Xian Qiao North Road, Chaoyang District, Beijing, 100015, People's Republic of China.

About TechFaith

TechFaith (NASDAQ: CNTF) is an original developed product provider focused on research and development of cell phone solutions. Based in China, TechFaith employs approximately 1,300 professionals, of whom approximately 90% are engineers. TechFaith engages in the development and production of middle to high end handsets and tailor made handsets. TechFaith's original developed products include: (1) multimedia phones and dual mode dual card handsets of multiple wireless technology combination such as GSM/GSM, GSM/CDMA, GSM/WCDMA, GSM/TD-SCDMA and UMTS/CDMA; (2) Window based smartphone and Pocket PC phone; and (3) handsets with interactive online gaming and professional game terminals with phone functionality.

With the capability of developing Middleware Application MMI/UI software on 2G/2.5G(GSM/GPRS, CDMA1X), 3G(EV-DO, WCDMA/UMTS, TD-SCDMA) and 3.5G(HSDPA) communication technologies, TechFaith is able to provide Middleware Application MMI/UI software packages that fulfill the specifications of handset brand owners and carriers in the global market. For more information, please visit www.techfaithwireless.com

 CONTACTS: In China: Mr. Jay Ji Tel: 86-10-5822-7390 Email Contact In the U.S.: Joseph Villalta at The Ruth Group
   Tel:+646-536-7003 Email Contact

SOURCE: China TechFaith

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