SOURCE: Wall Street News Alert

June 14, 2005 08:28 ET

Wall Street News Alert: DRGV Subsidiary Signs Partnership Agreement With Tencent Holdings Limited to Offer Wireless Value-Added Service for China Mobile!

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Wall Street Capital Funding.

WESTON, FL -- (MARKET WIRE) -- June 14, 2005 -- Wall Street News Alert's "stocks to watch" this morning are: Dragon Venture (OTC: DRGV), Sprint (NYSE: FON), Microsoft Corp. (NASDAQ: MSFT) and Google Inc. (NASDAQ: GOOG).

Dragon Venture (OTC: DRGV) may be appearing on the radar screen of aggressive investors and day traders this morning! Yesterday after the stock markets closed, the company, a holding company of high-tech companies in China, issued a press release announcing that one of its subsidiaries signed a partnership agreement with Tencent Holdings Ltd. ("Tencent").

The subsidiary, Shanghai Cnnest Technology Development Company, Ltd. ("Cnnest") signed the agreement with Tencent Holdings Limited ("Tencent"), which is a member of the Hong Kong Stock Exchange and a leading provider of Internet and mobile value-added services in China.

This could be good news for investors! The agreement outlines the services which include Wireless value-added services for China Mobile (a NYSE-listed company), which boasts the world's largest unified, contiguous all-digital mobile network and the world's largest mobile subscriber base.

Under the terms of the agreement, Cnnest will coordinate with Tencent to provide Cnnest "Mobile Real Estate" to China Mobile's subscribers and Tencent's QQ customers. "Mobile Real Estate" is a primary component of the "Cnnest Model," which provides cutting-edge technology for applications involved in the buying and selling of real estate. China Mobile will provide Cnnest "Mobile Real Estate" as a service to its subscribers. According to the press release, the "Cnnest Model" will certainly initiate a new wave in the industry of real estate listings and transactions.

Investors continue to watch Dragon Venture as the company progresses! Hidy Cheng, Vice President of Dragon Venture and General Manager of Cnnest, commented, "The partnerships will provide us a great opportunity to turn our research and development into a commercial success. It is absolutely another milestone in our company's history. Tencent offers a level of credibility as one of the first Internet Instant Messaging (IM) software developers in China, and a leading provider for Internet and mobile value-added services with a focus on IM and related value-added services. China Mobile is the leading mobile services provider in Mainland China. In 2004, the Company was once again selected as one of 'The World's 400 A-List Companies' by the internationally renowned business magazine Forbes and is the only Chinese company inducted into this A-List for three consecutive years. China Mobile's corporate credit rating was upgraded to BBB+ (equivalent to China's sovereign rating) by Standard & Poor's and A3 by Moody's in 2004. We believe Cnnest is going to be a leading firm in the field of mobile Internet solutions based on 3G technologies."

For more in-depth coverage and a company profile of Dragon Venture, visit

The stock closed yesterday at Eight cents a share.

In case you are not familiar with the company: Dragon Venture ("Dragon") is a holding company of high-tech companies in China. Dragon was established to serve as a conduit between Chinese high-growth companies and Western investors. The current focus of Dragon is on the development of wireless 3G-based applications and business solutions. Two companies that Dragon has acquired are among the leading providers of mobile Internet applications and business solutions in China. As China emerges as a growing force on the global stage, Dragon's professionals will provide invaluable services for Western investors seeking to gain access to the Chinese high-tech economy. In addition, Dragon functions as an incubator of high-tech companies in China, offering support in the critical functions of general business consulting, formation of joint ventures, access of capital, merger & acquisition, business valuation, and revenue growth strategies. Dragon will develop a portfolio of high-tech companies operating in China. Their focus will be on innovative technological applications, which are poised to alter the competitive landscape of the industry. For more information about Dragon Venture, please visit

Stocks showing interesting activity yesterday at the close of the regular trading day were: Sprint (NYSE: FON) up 2.3% on 13.6 million shares traded, Microsoft Corp. (NASDAQ: MSFT) down 0.4% on 43.6 million shares traded and Google Inc. (NASDAQ: GOOG) up 0.09% on 12.7 million shares traded.


"The dollar hit a 9-month high in the currency markets as remarks by Alan Greenspan regarding the U.S. economy and the interest rates, additionally the ECB, the European Central Bank, may cut rates. The dollar finished yesterday at 1.20 against the Euro, a nine-month high for the dollar which had been as low as 1.32 vs. the euro," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at:

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