Coolpad

Yulong Computer Telecommunication Scientific (Shenzhen) Co., Ltd. ({{zh|s=宇龙计算机通信科技（深圳）有限公司}}) is a wholly owned subsidiary and predecessor of Coolpad Group, that was incorporated on 29 April 1993 in Shenzhen, China.{{rp|29}} It was a Sino-foreign joint venture, which Shenzhen University Culture Technology Services owned 52% stake, and a Hong Kong-incorporated company Dickman Enterprises owned 48%.{{rp|65}} Guo Deying ({{zh|c=郭德英}}) was the first chairman of Yulong who later became the largest shareholder and chairman of Coolpad Group.{{rp|65}} Guo was an academic staff of the Shenzhen University, which he resigned in order to lead Yulong in that year.{{cite web|url=http://cj.sina.com.cn/article/detail/5617133817/19514|script-title=zh:他曾是手机四大家族之一，与华为齐名，如今出售股权、套现了|date=23 June 2016|access-date=12 May 2017|language=zh|website=Sina.com.cn|author=EMBA (pseudonym)|type=blog}} Dickman Enterprises was majority owned by Tsang Dick-man ({{zh|t=曾迪民}}) for 60% shares,1992 Annual Return of Dickman Enterprises to Hong Kong Companies Registry, PDF purchased on 11 May 2017 which Dickman Enterprises nominated him as the director of Yulong until July 2001.{{cite web|url=http://www.coolpad.com.hk/gb/ir/reports/prospectus.pdf|title=prospectus|date=27 November 2004|access-date=11 May 2017|publisher=Coolpad Group|language=zh|archive-date=26 December 2014|archive-url=https://web.archive.org/web/20141226004122/http://www.coolpad.com.hk/gb/ir/reports/prospectus.pdf|url-status=dead}}{{rp|71}}

In 1999, a 52% stake of Yulong, that was held by Shenzhen University, was sold to wife and mother-in-law of Guo for {{CNY|3.81 million}}.{{rp|65}} in June 2001, the remaining 48% was also acquired by Guo and his wife from Dickman Enterprises for {{CNY|1.488 million}}, making Guo, his wife and his mother-in-law owned 100% stake of Yulong.{{rp|65}}

Yulong at first was a maker of pagers and paging systems. In 2002 the company started to make mobile phones.

Coolpad was originally the smartphone brand of Yulong.{{cite news|url=https://www.wsj.com/news/articles/SB10001424052702304173704579261860481395236 |title=In China, the Coolpad Is Hotter Than Apple's iPhone |work=The Wall Street Journal|publisher=News Corp|date=2014-01-28 |first1=Lorraine|last1=Luk|first2=Juro|last2=Osawa|quote=In the third quarter of last year, Coolpad, the smartphone brand of China's Yulong Computer Telecommunication Scientific (Shenzhen) Co., was the sixth-biggest smartphone vendor by units sold world-wide}} In 2002, an overseas holding company, China Wireless Technologies Limited was incorporated in the Cayman Islands, for the shares of Yulong; China Wireless Technologie's shares were floated in Hong Kong stock exchange in 2004, which was considered as an international/offshore market for mainland Chinese companies and citizens.{{cite web|url=http://www.hkexnews.hk/listedco/listconews/SEHK/2004/1130/LTN20041130000.htm|title=Prospectuses|date=30 November 2004|access-date=8 May 2017|publisher=China Wireless Technologies|via=Hong Kong Exchanges and Clearing|type=table of PDF download links}}

In 2003, China Wireless made the first Chinese CDMA1X-based smartphone, with color display and hand writing input. In the next year, the company made a dual SIM-slot phone. In 2005 the company made a phone with dual SIM-slot which could operated simultaneity in both GSM and CDMA-based mobile networks, which was the first manufacturer in the world to invent it.

In 2012, Coolpad was one of the major brands that Chinese would buy in the domestic market, along with Chinese brands Lenovo, Huawei and ZTE{{cite web |url=https://www.zdnet.com/article/the-one-country-apple-cant-crack-china/|title=The one country Apple can't crack: China|first=Andrew|last=Nusca|date=2012-08-23|access-date= 2012-08-30|work=ZDNet |publisher=CBS Interactive }} (The big 4) and import brands Samsung, Apple Inc. and Nokia.

China Wireless was officially renamed Coolpad Group Limited at the end of 2013.{{cite press release|url=http://file.irasia.com/listco/hk/coolpad/press/p131129a.pdf |title=China Wireless officially changes its name to Coolpad Group Limited |date=29 November 2013|access-date=12 May 2017|publisher=Coolpad Group|agency=Strategic Financial Relations Limited}} In the eve of termination of the tie-in sales agreement with the majority state-owned mobile phone carrier China Mobile in 2014,{{cite web|url=https://www.bloomberg.com/news/articles/2014-09-26/china-mobile-taking-steps-to-cut-smartphone-subsidies|title=China Mobile Taking Steps to Cut Smartphone Subsidies|date=26 September 2014|access-date=12 May 2017|work=Bloomberg News}} the group started to sell their products via online stores.{{cite web |url=https://www.bloomberg.com/news/2014-04-02/coolpad-targets-online-phone-sales-to-pass-lenovo.html |title=Coolpad Targets Online Phone Sales to Pass Lenovo|date=3 April 2014|access-date=6 April 2014|work=Bloomberg News}}

File:Coolpad Porto SX.jpg

The group was included in Forbes' Asia's Fab(ulous) 50 Companies once, in 2015 edition.{{cite web|url=https://www.forbes.com/companies/coolpad-group/|title=Coolpad Group|date=15 August 2016|access-date=12 May 2017|work=Forbes}} However, the company was suffered from the poor sales of their 3G smartphones in 2015 financial year, which saw a 41% drop in total revenue; thanks to 3% increase in revenue of 4G smartphones and extraordinary profit by selling part of the stake of Coolpad E-commerce, the company avoided a net loss but a net profit of HK$2.3 billion. In December 2014 the company formed Coolpad E-commerce, a joint venture with Qihoo 360 in 55-45 ratio, but in mid-2015, chairman and largest shareholder, Guo, sold part of the shares of Coolpad Group to Qihoo 360's competitor, Jia Yueting of LeEco Group, despite Jia used an overseas holding company Lele Holding, instead of domestic incorporated LeEco (aka Beijing Leshi Holding) to acquire the shares. LeMobile, a subsidiary of LeEco, was also a producer of smartphone.

In December 2016, Coolpad Group sold 80% stake of a subsidiary "Shenzhen Coolpad Mobile Tech" ({{zh|s=深圳市酷派移动科技}}), which runs the smartphone brand "ivvi",{{cite web|author1=Joe|title=Coolpad Ivvi K1 Mini is now the world's thinnest smartphone with a 4.7mm body|url=http://www.gizmochina.com/2015/02/03/coolpad-ivvi-k1-mini-now-worlds-thinnest-smartphone-4-7mm-body/|website=GizmoChina|date=3 February 2015|access-date=12 May 2017}} to another Chinese technology company SuperD that specialize in virtual reality and augmented reality.{{cite press release|url=http://www.hkexnews.hk/listedco/listconews/SEHK/2016/1202/LTN201612021475.pdf|title=DISCLOSEABLE TRANSACTION DISPOSAL OF 80% EQUITY INTEREST IN COOLPAD MOBILE|date=2 December 2016|access-date=29 December 2016|publisher=Coolpad Group|via=Hong Kong Exchanges and Clearing}} Coolpad Group retained 20% stake in Coolpad Mobile.

According to a research by Canalys, neither Coolpad nor sister brand LeMobile (of Jia's Le.com) were the major brands of the domestic smartphone market, in any of 2016,{{cite web|url=https://www.canalys.com/newsroom/media-alert-china-smartphone-market-hits-its-highest-shipment-total-ever|title=Media alert: China smartphone market hits its highest shipment total ever|date=9 February 2017|access-date=13 May 2017|publisher=Canalys}} nor in the first quarter of 2017.{{cite web|url=https://www.canalys.com/newsroom/media-alert-huawei-regains-smartphone-lead-china-top-three-take-50-share|title=Media alert: Huawei regains smartphone lead in China as top three take a 50% share|date=25 April 2017|access-date=13 May 2017|publisher=Canalys}}

Since acquired by Jia Yueting, Yulong/Coolpad Group also sold mobile phone parts to Lesai Mobile HK ({{zh|t=樂賽移動香港}}), associate company of Coolpad Group (they shared the same largest shareholder Leview Mobile HK). The connected transaction was renewed on 16 May 2017; in 2016 the transaction value in the connected deal was HK$192.774 million.{{cite web|url=http://www.aastocks.com/en/stocks/news/aafn-content/NOW.803078/popular-news|title=COOLPAD GROUP Subsidiary, Lesai Mobile Renew Component Procurement Framework Contract|access-date=28 May 2017|work=AAStocks Financial News}}{{cite press release|url=http://www.hkexnews.hk/listedco/listconews/SEHK/2017/0516/LTN20170516662.pdf|title=RENEWAL OF CONTINUING CONNECTED TRANSACTIONS KEY COMPONENT PROCUREMENT FRAMEWORK CONTRACT|date=16 May 2017|access-date=28 May 2017|publisher=Coolpad Group|via=Hong Kong Exchanges and Clearing Limited website}} The shares of Coolpad Group was also suspended from trading since 31 March 2017, as the external auditor requested the company to provide more information, in order to verify the 2016 financial statements of the company.{{cite news|url=https://www.scmp.com/tech/china-tech/article/2083801/leeco-owned-coolpad-halts-trading-shares-hong-kong|title=LeEco-owned Coolpad halts trading of shares in Hong Kong|date=31 March 2017|access-date=29 May 2019|first=Bien|last=Perez|newspaper=South China Morning Post|location=Hong Kong}}

In October 2017, the company also entered real estate industry by signing a cooperative agreement with a Chinese developer, in order to re-develop its old headquarters in Shenzhen: "Coolpad Information Harbor".{{cite news|url=http://tech.qq.com/a/20171018/018940.htm|script-title=zh:酷派要靠房地产翻身？与星华安合作开发信息港项目|date=18 October 2017|access-date=25 November 2017|publisher=Tencent|language=zh-cn}}{{cite press release|url=http://www.hkexnews.hk/listedco/listconews/SEHK/2017/1017/LTN20171017754.pdf|title=Announcement on the cooperative development of the first, second and third phases of urban renovation project of Coolpad Information Harbor by the group|date=17 October 2017|access-date=25 November 2017|publisher=Coolpad Group|via=Hong Kong Exchanges and Clearing}} In November 2017, Jia Yueting resigned as the chairman and a member of the board,{{cite news|url=http://www.sohu.com/a/205009705_115565|script-title=zh:酷派集团：贾跃亭辞任公司董事会主席等职|date=20 November 2017|access-date=25 November 2017|publisher=Sohu|language=zh-cn}}{{cite press release|url=http://www.hkexnews.hk/listedco/listconews/SEHK/2017/1117/LTN20171117740.pdf|title=(1) Resignation of directors (2) Change of duties of directors and (3) Appointment of directors|date=17 November 2017|access-date=25 November 2017|publisher=Coolpad Group|via=Hong Kong Exchanges and Clearing}} 4 months after he was resigned from sister company Le.com. Two more non-executive directors also followed Jia to resign, including former CEO Liu Jiangfeng, who already resigned as CEO in mid-2017. Jia soon sold all the shares he held in January 2018.{{cite news|url=http://www.xinhuanet.com/fortune/2018-01/12/c_1122247758.htm|archive-url=https://web.archive.org/web/20180112040819/http://www.xinhuanet.com/fortune/2018-01/12/c_1122247758.htm|url-status=dead|archive-date=12 January 2018|script-title=zh:贾跃亭清仓酷派股权|newspaper={{lang|zh|北京青年报}}|date=12 January 2018|access-date=19 January 2018|language=zh-cn|via=XinhuaNet}}

Coolpad then shifted to sell phones in the United States market. However, days after vice-chairman and CEO Jiang Chao appearance in the Consumer Electronics Show, he was removed from the board and other positions in January 2019.{{cite news|url=https://www.scmp.com/tech/gear/article/2181659/chinese-smartphone-maker-coolpad-seeks-reverses-losses-eyes-expansion-us|title=Loss-making Chinese smartphone maker Coolpad removes CEO days after CES trade show|date=14 January 2019|access-date=28 January 2019|newspaper=South China Morning Post|publisher=South China Morning Post Publishers (Alibaba Group)|location=Hong Kong|author=Li Tao}} In April 2019, after a net loss of HK$2,674 million in 2017 financial year,{{cite web|url=http://www3.hkexnews.hk/listedco/listconews/SEHK/2018/1210/LTN20181210103.pdf|title=2017 Annual Report|date=10 December 2018|access-date=28 January 2019|publisher=Coolpad Group|via=Hong Kong Exchanges and Clearing Limited website|archive-date=11 April 2021|archive-url=https://web.archive.org/web/20210411123753/https://www1.hkexnews.hk/listedco/listconews/sehk/2018/1210/ltn20181210103.pdf|url-status=dead}} the company had announced that the net loss of 2018 financial year had decreased to HK$409 million, despite the revenue of the company had also decreased.{{cite news|url=https://www.finet.hk/newscenter/news_content/5ca0abb8bde0b335d36aed93|script-title=zh:酷派(02369-HK)去年虧損收窄至4億不派息|date=31 March 2019|access-date=29 May 2019|work=finet.hk|location=Hong Kong|language=zh-hk}}

{{updated|11 January 2018}}

During 2015 Jia Yueting became the second largest shareholder of Coolpad; he became the largest shareholder in the next year. As of 31 December 2015 Jia owned 17.92% shares. (via "Leview Mobile HK" ({{zh|t=樂風移動香港}}), a subsidiary of BVI-incorporated Lele Holding; Jia owned 100% stake of Lele Holding){{cite web|url=http://www.hkexnews.hk/listedco/listconews/SEHK/2016/0425/LTN20160425201.pdf|title=2015 Annual Report|date=25 April 2016|access-date=21 January 2017|publisher=Coolpad Group|via=Hong Kong Exchanges and Clearing}} In August 2016, Lele Holding purchased an additional 10.97% shares from the founder and former largest shareholder Guo Deying, making Lele Holding the largest shareholder for 28.83% shares.{{cite press release|url=http://www.hkexnews.hk/listedco/listconews/SEHK/2016/0805/LTN20160805856.pdf|title=COMPLETION OF DISPOSAL OF SHARES BY THE former SINGLE LARGEST SHAREHOLDER|date=5 August 2016|access-date=29 December 2016|publisher=Coolpad Group|via=Hong Kong Exchanges and Clearing}} Guo retained 9.22% shares as the second largest shareholder.

However, it was also reported that the aforementioned 11% was owned by Le.com instead (was claimed by Le.com as the owner, via a private equity fund since 2016),{{cite press release|url=http://disclosure.szse.cn/finalpage/2016-08-20/1202592902.PDF|script-title=zh:关于发起设立投资并购基金的进展公告|date=19 August 2016|access-date=25 April 2018|publisher=Leshi Internet Information and Technology|language=zh-cn|via=Shenzhen Stock Exchange|archive-url=https://web.archive.org/web/20160910041500/http://disclosure.szse.cn/finalpage/2016-08-20/1202592902.PDF|archive-date=10 September 2016|url-status=dead}}{{cite web|url=http://disclosure.szse.cn/finalpage/2017-07-14/1203708554.PDF|title=2016 Nián niándù bàogào (xiūdìng gǎo èr)|script-title=zh:2016年年度报告（修订稿二）|trans-title=2016 Annual Report (revision 2)|date=14 July 2017|access-date=22 April 2018|publisher=Leshi Internet Information and Technology|language=zh-cn|via=Shenzhen Stock Exchange website|archive-url=https://web.archive.org/web/20170902044417/http://disclosure.szse.cn/finalpage/2017-07-14/1203708554.PDF|archive-date=2 September 2017|url-status=dead}}{{cite press release|url=http://disclosure.szse.cn/finalpage/2018-04-03/1204587912.PDF|script-title=zh:关于深圳证券交易所对本公司问询函的回复|title=Guān yú shēn zhèn zhèng quàn jiāo yì suǒ duì běn gōng sī wèn xún hán de huí fù|date=3 April 2018|access-date=25 April 2018|publisher=Leshi Internet Information and Technology|location=Beijing|language=zh-cn|via=Shenzhen Stock Exchange website|archive-url=https://web.archive.org/web/20180423033751/http://disclosure.szse.cn/finalpage/2018-04-03/1204587912.PDF|archive-date=23 April 2018|url-status=dead}}{{cite news|url=http://tech.sina.com.cn/t/2018-04-04/doc-ifysuuya6230249.shtml|title=Lèshì wǎng: Duì kù pài jì tí jiǎn zhí zhǔn bèi yuē 4.68 yì yuán|script-title=zh:乐视网：对酷派计提减值准备约4.68亿元|date=4 April 2018|access-date=25 April 2018 |work=新浪科技|publisher=Sina|language=zh-cn}} which was owned by Zeal Limited since January 2018 according to Coolpad.{{cite press release|url=http://www.hkexnews.hk/listedco/listconews/sehk/2018/0111/LTN20180111568.pdf|title=Inside Information|date=11 January 2018|access-date=25 April 2018|publisher=Coolpad Group|via=Hong Kong Exchanges and Clearing Limited website}}{{cite news|url=http://finance.sina.com.cn/stock/s/2018-01-11/doc-ifyqptqv7986289.shtml|script-title=zh:贾跃亭清空酷派股份 乐视网喊话：＂没收到钱＂|title=Jiǎ yuètíng qīng kōng kù pài gǔ fèn lè shì wǎng hǎn huà:"Mò shōu dào qián"|date=11 January 2018|access-date=25 April 2018|work=新浪财经|publisher=Sina|language=zh-cn}} The additional 18% that previously owned by Jia, was sold to Power Sun Ventures in the same month; Power Sun Ventures was owned by Chen Jiajun ({{zh|t=陳家俊}}).

{{as of|2015|12|31}}, rest of the shares (about 61.95%) were small investors who were not require to disclose their interests to pursuant to Section 336 of the Securities & Futures Ordinance of Hong Kong. Despite all of the member of the board directors of Coolpad Group also owned small stakes that were required to disclose their interests to pursuant to another section of the ordinance: Jiang Chao (0.59%), Li Bin (1.58%), Li Wang (0.59%), as well as independent directors Chan King Chung (0.01%), Huang Dazhan (0.01%) and Xie Weixin (0.01%).

On 17 December 2014, Palo Alto Networks announced it had found a backdoor on many Coolpad handsets, and dubbed it "CoolReaper".{{cite web |url=http://researchcenter.paloaltonetworks.com/2014/12/coolreaper-revealed-backdoor-coolpad-android-devices/ |title=CoolReaper Revealed: A Backdoor in Coolpad Android Devices |first1=Claud|last1=Xiao|first2=Ryan |last2=Olson |date=2014-12-17| access-date=2014-12-17 | publisher=Palo Alto Networks }}

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• {{official site|http://www.coolpad.com}}

{{Shenzhen}}

{{Electronics industry in China}}

Category:Telecommunication equipment companies of China

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Category:1993 establishments in China

Category:Mobile phone companies of China

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