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27.12.01 08:07

25951 Postings, 7033 Tage PichelMorning News

DJII: 10.088,07 (+52,73)
   Nasdaq:§  1.960,70 (+16,22)

 US-Markt:§Das Weihnachtsgeschäft beflügelt US-Börsen. .Yahoo hat im Weihnachtsgeschäft einen kräftigen Umsatzzuwachs (+86%) zu verzeichnen. Ebay und Amazon konnten ebenfalls profitieren. Wal-Mart rechnet mit einem Umsatzanstieg am oberen Ende der Spanne von 4-6% für den Dezember.

       Öl:                    §Opec könnte morgen Förderkürzung (-1,5 Mio Barrel pro Tag) beschließen.
Argentinien:§Will den Schuldendienst bis auf weiteres ausgesetzen und will eine Drittwährung einführen.
 Indonesien einigt sich mit Siemens-Tochter (PT Jawa Power) über einen festen Strompreis pro Kilolwatt  (4,80 cents) und zahlt außerdem rd. 400 Mio $ an Jawa Power nach. Siemens bewertet dies als Durchbruch (Reuters)
 Hynix und Micron wollen im kommenden Monat eine Kooperation auf dem Speicherchipsektor beschließen. Dies könnte zur Reduzierung der Überkapazitäten auf dem Weltmarkt führen.
 Nanya Technology könnte möglicher Infineon-Partner  auf dem Speicherchipsektor werden (FTD) Außerdem gibt es Planspiele bei IFX, die Speicherchipsparte an die Börse zu bringen.
 DB 24 will bis Ende 2002 ca 200 Filialen (1000) schließen und die Kosten um 10% senken. (FTD) Ausgeschlossen wird die Übernahme eines Online-Brokers.
 Das jap. Brokerhaus Kokusai Sec. will seine Allianz mit der Deutschen Bank im Bereich Asset Management zum 1. Feb. 2002 auflösen.
 Liberty Media macht dem Kartellamt keine Zugeständnisse für den Einstieg in den TV-Kabelmarkt (Reuters)
 DCX will bis zu 15 Mrd $ Anleihen emittieren (Asset-backed-securities).
 Altana ist auch für 2002 zuversichtlich, will im Umsatz und Ertrag 2-stellig wachsen. (HB)
 BASF klagt gegen den Bußgeldbescheid (296 Mio E) der EU-Kommission.
 Norsk Hydro will von E.ON die VAW-Tochter für 2,5-3 Mrd E übernehmen (HB)
 Wünsche beantragt die Eröffnung eines Insolvenzverfahrens. (FTD)

Neuer Markt:
 Intershop geht im lfd. Q von geringer als erwarteten Kosten aus, hat für 2002 aber einen geringeren Umsatz als 2001 (70 Mio E) prognostiziert. Für das 4Q wird nun mit einem deutlichen Rückgang des Nettoverlustes gerechnet. Es stehen noch 36-37 Mio E an liquiden Mitteln zur Verfügung.
 Edel Music verkauft weitere Tochterfirma Eagle Rock (68%) an das Management=Berwertung ca. 41 Mio E.
 M+S Elektronik meldet Insolvenz an.
 Brainpool verläßt den Neuen Mart zum 11.1.2002.

27.12.01 11:58

546 Postings, 7600 Tage SoftiUND NE GUTE HARTCOURT-NEWS von Phan

Sein Letter zum Jahresabschluß läßt vieles für 2002 erwarten:

December 27th, 2001

Dear Shareholders:

When I studied American history, I was always
impressed with the smooth transition of our
presidencies. No power in world history had been able
to achieve this efficient transfer of management. An
infusion of new blood and talents is so essential to
maintain the spirit of the institution. Therefore, it
is a great pleasure for me to be able to find a
respected leader to take over Hartcourt¡¯s management
and bring it to the next level. Dr. Wallace S. L.
Ching is definitely a better manager and he will
surpass my achievements.

An outstanding CEO with brand-name credentials, from
educational background to work experience, Dr. Ching
will bring into Hartcourt institutional investors,
something that we have tried to do for a long time.
His planned China Venture Fund will be an important
cornerstone of Hartcourt¡¯s effort in capital
re-structuring. We will be able to grow at much faster
rate to solidify our market position.

Moreover, all of our operations have been self-managed
by local executives in a very efficient way. They have
been running these Hartcourt divisions for as long as
16 years, and they have all the support they need from
their excellent staff. With the new capital funding
from institutional investors and the guidance from Dr.
Ching, these managers will bring to Hartcourt the
desired revenue, profit and expansion we need.

I hate to say this, but one year from now, nobody will
remember who Alan Phan is.

It¡¯s time to say goodbye to all of you, whom I have
devoted the last 10 years of my life to serve. I have
grown to love Hartcourt and its people: the
shareholders, the employees, the clients... It¡¯s hard
to leave home.

My job is essentially completed. If you don¡¯t focus
on the rise and fall of HRCT share price, you can see
that Hartcourt operations have experienced a steady
growth pattern and our business plan has been carried
out successfully over the last 2 years. We started out
with nothing in March 1999 to build an Internet
conglomerate in Greater China. Today, we own the
majority shares of 12 operating companies and
investments in 3 portfolio companies. These companies
have solid assets, revenue and good market positioning
in the fastest growing market in the world. They have
22 major strategic partners who are the well-known
leaders of their industry in global markets. Of
course, we have had delays and mistakes and problems,
but the end result speaks for itself.

There is nothing to apologize for, except one thing:
the current share price. I wish that the bull market
is still with us, the recession is not yet a reality,
the terrorist attacks did not happen¡­but we take what
God gives us, and hopefully, this difficult
environment will teach us more about the value of
patience and long-term investment perspective. We will
complete the spin-off of all Hartcourt assets by Q1 of
2002 (except for the E-Education), and I strongly
believe that in the long run, this move will help HRCT
share price tremendously.

I have donated to Hartcourt 5 Million of my own
shares. It will help Hartcourt to record an
extraordinary gain in Q4 or Q1. The rest of my shares
(about 4 Million) will be donated to a number of
charities. The shares will have a lock-up period
between 12 months and 36 months. In that way, there
will be no adverse effect on HRCT share price in the
future. I have told many of you that money is not my
motivation. I will walk away from Hartcourt with a
unique pride that I am one of those rare CEO¡¯s who
have benefited NOTHING from the company I founded.

I love and believe in Hartcourt with all my heart.
However, there are more to life than Hartcourt and my
workload. I have neglected other important matters of
my existence: my physical being, my mental and
spiritual self and my intellectual pursuit. It¡¯s time
for me to spend my energy on self-development; as I am
getting older, I cannot afford to overlook these life

I will leave Hartcourt with a heavy heart. There are
too many friends and associates who have made my
Hartcourt journey a memorable one. Please do keep in
touch, as I plan to travel all over the US some time
next year. From Tennessee, Colorado, Florida to New
York, Seattle, Arizona¡­I will come and have a beer,
or play tennis, with you all. You are the most
inspiring group of shareholders and friends that any
CEO would die for.

I will leave you with the following wisdom from Henry
Drummond,¡± You will find as you look back upon your
life that the moments when you have really lived, are
the moments when you have done things in a spirit of
love¡­ Work joyfully and peacefully, knowing that the
right thoughts and right efforts will inevitably bring
about right results.¡±

With all my heart, as always,


Dr. Alan V. Phan

Dr. Alan V. Phan, Chairman
The Hartcourt Companies, Inc.
19222 Pioneer Blvd. Suite 100
Cerritos, CA. 90703 USA
Tel: 562 653 0400 Ext 209
Fax: 562 653 0900


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