Yulong Computer Telecommunication Scientific Yulong Computer Telecommunication Scientific (Shenzhen) Co., Ltd. () is a wholly owned subsidiary and predecessor of Coolpad Group, that was incorporated on 29 April 1993 in Shenzhen, China. Dickman Enterprises was majority owned by Tsang Dick-man () for 60% shares, which Dickman Enterprises nominated him as the director of Yulong until July 2001. In 1999, a 52% stake of Yulong, that was held by Shenzhen University, was sold to wife and mother-in-law of Guo for . 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. In 2003, China Wireless made the first Chinese
CDMA1X-based
smartphone, with color display and hand writing input. (The big 4) In the eve of termination of the tie-in sales agreement with the majority state-owned mobile phone carrier
China Mobile in 2014, the group started to sell their products via online stores. The group was included in
Forbes' Asia's Fab(ulous) 50 Companies once, in 2015 edition. 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; to another Chinese technology company
SuperD that specialize in
virtual reality and
augmented reality. 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, nor in the first quarter of 2017. Since acquired by Jia Yueting, Yulong/Coolpad Group also sold mobile phone parts to Lesai Mobile HK (), 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. 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. 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". In November 2017, Jia Yueting resigned as the chairman and a member of the board, 4 months after he was resigned from sister company
Le.com. Two more non-executive directors also followed Jia to resign, 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. In April 2019, after a net loss of HK$2,674 million in 2017 financial year, 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. ==Ownership==