ALERT: TechFaith's Shengyang High Tech Park Reaches Full Occupancy

BEIJING, Oct. 14, 2015 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company") today announced that its Shengyang High Tech Park has reached full occupancy rate.  This follows news on September 28, 2015, that the Company's 3 building, 43,300 square meter Hangzhou High Tech Park had reached a 95% occupancy rate. TechFaith has invested approximately US$334 million in the development of its real estate portfolio over the past 8 years.

TechFaith's Shengyang High Tech Park is located in the Shen Bei New District Mobile Devices Industry Zone and is comprised of 2 buildings totaling approximately 10,270 square meters.  The Company has invested approximately US$10.1 million in the phase one development of this high tech park.

Mr. Deyou Dong, Chief Executive Officer of TechFaith, said, "This is further validation of our long-term strategy.  Our goal has been to get into markets where we can benefit from lower land rights prices and subsequently increased lease rates as the target areas become even more commercially and economically robust.  This has been a multi-year strategy and has already led to a significant appreciation in the value of our existing properties as compared to the carrying values." 

In an effort to accelerate the construction process of the Company's properties, management made the strategic decision in the second quarter of 2015 to pay approximately US$139 million.  The Company expects to further benefit from its payment by freezing the price of raw materials, which can fluctuate considerably during the construction process.

About TechFaith 

TechFaith (NASDAQ: CNTF) is a China-based mobile solutions provider for the global mobile handsets market, with a focus on the original design and development of specialized mobile handsets for consumers and enterprises under both our customers' and our own brands, as well as on the sale of finished products to local and international customers.  Starting in 2008, we began investing in the construction of buildings and facilities to expand our real estate portfolio in China as part of our growth and diversification strategy. For more information, please visit www.techfaithwireless.com.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident," "outlook" and similar statements.  TechFaith may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on Forms 20-F and 6-K, among others, and in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about TechFaith's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, those risks outlined in TechFaith's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. TechFaith does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

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SOURCE China TechFaith Wireless Technology Limited