VANCOUVER, CANADA -- March 21, 2005 -- Nam Tai Electronics, Inc. (“Nam Tai” or the “Company”) (NYSE Symbol: NTE) is pleased to announce that it has received new orders from a leading Japanese manufacturer of wireless communications devices to manufacture Color Super Twisted Nematic (“CSTN”) LCD modules for its cordless phones.
“We are very pleased to see the increasing demand of LCD modules for cordless phones. These new orders have proven the success of our strategy to further diversify our LCD products. With our valuable experience in manufacturing LCD products, together with our outstanding manufacturing capability, we are confident that robust growth in the demand for LCD products will continue to boost our business in the foreseeable future.” said Mr. Joseph Li, Chief Executive Officer of Nam Tai.
J.I.C. Receives The Supplier of Quality Award
The Company is also pleased to announce that its subsidiary, J.I.C. Technology Company Limited (“J.I.C.”), recently received the Supplier of Quality award from Polar, the world’s leading manufacturer of sports instruments and heart rate monitoring, registering and evaluation equipment.
“We are very proud and encouraged to be recognized by Polar as the supplier of quality. This award further validates our focused strategies in quality products and services to our customers. Looking forward, we will keep striving for further achievements by delivering quality products and services to our customers.” concluded Mr. Li.
Annual Shareholders Meeting
The Company will hold its Annual Shareholders Meeting on Monday, June 6, 2005 at 11:30 a.m. (ET) at the Peninsula Hotel, New York, Tribeca Room, 3rd Floor, 700 Fifth Avenue at 55th Street. The record date for voting is the close of business on April 22, 2005.
About Nam Tai Electronics, Inc.
We are an electronics manufacturing and design services provider to original equipment manufacturers of telecommunications and consumer electronic products. Through our electronics manufacturing services operations, we manufacture electronic components and subassemblies, including LCD panels, LCD modules, radio frequency modules, flexible printed circuit sub-assemblies and image sensors. These components are used in numerous electronic products, including cellular phones, laptop computers, digital cameras, copiers, fax machines, electronic toys, handheld video game devices and microwave ovens. We also manufacture finished products, including cellular phones, palm-sized PCs, personal digital assistants, electronic dictionaries, calculators and digital camera accessories for use with cellular phones.
Nam Tai has two Hong Kong listed subsidiaries, Nam Tai Electronic & Electrical Products Limited (“NTEEP”) and J.I.C. Technology Company Limited (“JIC”). Interested investors may go to the website of The Stock Exchange of Hong Kong at www.hkex.com.hk to obtain the information. The stock code of NTEEP and JIC in The Stock Exchange of Hong Kong are 2633 and 987, respectively. Investors are reminded to exercise caution when assessing such information and not to deal with the shares of the Company based solely on reliance of such information. The results of NTEEP and JIC only represent a part of the results of the Company and there are GAAP differences in the financial statements of NTEEP and JIC, when compared with the financial statements of the Company. Furthermore, different subsidiaries of the Company may have a different peak season during a year.