SEC Company Response from China Techfaith Wireless Communication Technology LTD (CIK 0001316317) — May 3, 2005
China Techfaith Wireless Communication Technology LTD (CIK 0001316317)
Date: May 3, 2005 · CIK: 0001316317 · Accession: 0001145549-05-000741
AI Filing Summary & Sentiment
File numbers found in text: 333-123921
Letter
May 3, 2005 VIA EDGAR Mr. Larry Spirgel, Assistant Director Mr. Ted Yu, Attorney-Advisor Division of Corporate Finance Securities and Exchange Commission 450 Fifth Street, N.W. Washington, D.C. 20549
RE: CHINA TECHFAITH WIRELESS COMMUNICATION TECHNOLOGY LIMITED REGISTRATION STATEMENT ON FORM F-1 (333-123921)
Dear Mr. Spirgel and Mr. Yu:
On behalf of our client, China Techfaith Wireless Communication Technology Limited (the "Company"), we set forth below the Company's response to Mr. Yu's oral comments on May 2, 2005, which are repeated below for your ease of reference.
* * *
COMMENT: CONFIRM IN YOUR RESPONSE LETTER THAT THERE ARE NO APPROVALS THAT ARE PENDING OR MUST BE OBTAINED BY THE RELEVANT CHINESE FOREIGN EXCHANGE AUTHORITIES IN CONNECTION WITH THE COMPANY'S IPO.
RESPONSE: The Company confirms that no approval from the PRC foreign exchange authorities is required in connection with its proposed initial public offering in the U.S.
COMMENT: ADVISE WHETHER YOUR PLAN TO ESTABLISH A WHOLLY-OWNED SUBSIDIARY IN SHENZHEN, CHINA IS EXPECTED TO BE IMPACTED BY THE NEW PRC REGULATIONS.
RESPONSE: The Company supplementally advises the Staff that in China, every wholly-owned subsidiary of a foreign company has always been required to register with the local branch of the State Administration of Foreign Exchange ("SAFE"). Pursuant to the April SAFE notice, such subsidiary is also required to disclose its ultimate controlling persons and main operational results in the SAFE registration. Therefore, the Company's proposed new subsidiary in China must comply with this disclosure requirement in connection with its SAFE registration.
* * *
If you have any additional questions or concerns, we would appreciate you contacting the undersigned at (852) 2912-2535 (work) or (852) 9037-8056 (cell) as soon as possible.
Resident partners: Joseph A. Bevash (US), Sabrina Y. T. Maguire (US), John A. Otoshi (US), Mitchell D. Stocks (US), David Zhang (US)
<PAGE>
May 3, 2005 Page 2
(LATHAM & WATKINS LLP LOGO)
Thank you very much for your support and assistance in this matter.
Very truly yours,
/s/ Z. Julie Gao
of LATHAM & WATKINS LLP
Show Raw Text
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Z. JULIE GAO 41st Floor, One Exchange Square
Direct Dial: (852) 2912-2535 8 Connaught Place, Central
julie.gao@lw.com Hong Kong
Tel: (852) 2522-7886 Fax: (852) 2522-7006
(LATHAM & WATKINS LLP LOGO) www.lw.com
International Law Firm (CHINESE CHARACTERS)
FIRM / AFFILIATE OFFICES
Boston New Jersey
Brussels New York
Chicago Northern Virginia
Frankfurt Orange County
Hamburg Paris
Hong Kong San Diego
London San Francisco
Los Angeles Silicon Valley
Milan Singapore
Moscow Tokyo
Washington, D.C.
File No. 040266-0001
May 3, 2005
VIA EDGAR
Mr. Larry Spirgel, Assistant Director
Mr. Ted Yu, Attorney-Advisor
Division of Corporate Finance
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
RE: CHINA TECHFAITH WIRELESS COMMUNICATION TECHNOLOGY LIMITED
REGISTRATION STATEMENT ON FORM F-1 (333-123921)
Dear Mr. Spirgel and Mr. Yu:
On behalf of our client, China Techfaith Wireless Communication Technology
Limited (the "Company"), we set forth below the Company's response to Mr. Yu's
oral comments on May 2, 2005, which are repeated below for your ease of
reference.
* * *
COMMENT: CONFIRM IN YOUR RESPONSE LETTER THAT THERE ARE NO APPROVALS THAT
ARE PENDING OR MUST BE OBTAINED BY THE RELEVANT CHINESE FOREIGN EXCHANGE
AUTHORITIES IN CONNECTION WITH THE COMPANY'S IPO.
RESPONSE: The Company confirms that no approval from the PRC foreign
exchange authorities is required in connection with its proposed initial public
offering in the U.S.
COMMENT: ADVISE WHETHER YOUR PLAN TO ESTABLISH A WHOLLY-OWNED SUBSIDIARY IN
SHENZHEN, CHINA IS EXPECTED TO BE IMPACTED BY THE NEW PRC REGULATIONS.
RESPONSE: The Company supplementally advises the Staff that in China, every
wholly-owned subsidiary of a foreign company has always been required to
register with the local branch of the State Administration of Foreign Exchange
("SAFE"). Pursuant to the April SAFE notice, such subsidiary is also required to
disclose its ultimate controlling persons and main operational results in the
SAFE registration. Therefore, the Company's proposed new subsidiary in China
must comply with this disclosure requirement in connection with its SAFE
registration.
* * *
If you have any additional questions or concerns, we would appreciate you
contacting the undersigned at (852) 2912-2535 (work) or (852) 9037-8056 (cell)
as soon as possible.
Resident partners: Joseph A. Bevash (US), Sabrina Y. T. Maguire (US), John A.
Otoshi (US), Mitchell D. Stocks (US), David Zhang (US)
<PAGE>
May 3, 2005
Page 2
(LATHAM & WATKINS LLP LOGO)
Thank you very much for your support and assistance in this matter.
Very truly yours,
/s/ Z. Julie Gao
of LATHAM & WATKINS LLP
Enclosures
cc: Defu Dong, Chairman and CEO, China Techfaith Wireless Communication
Technology Limited
Eva Hon, Chief Accounting Officer, China Techfaith Wireless Communication
Technology Limited
David T. Zhang, Esq., Latham & Watkins LLP, Hong Kong
Chris K. H. Lin, Esq., Simpson Thacher & Bartlett LLP, Hong Kong
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