Check on China: China GrenTech Co. Ltd.

With just nine months until the Olympic Games in Beijing, the Chinese government is pouring billions of dollars into infrastructure build-outs in preparation for China's big step onto the global stage. Electric with ambition and awed by its own progress, China is eager to flaunt its emergence as a legitimate 21st-century economic power and to show off its modern, high-tech face to the world.

One of the less outwardly obvious signs of China's growing technological sophistication is the wireless revolution that is sweeping the nation at a breakneck pace. Leading the charge is China GrenTech Co. Ltd. (Nasdaq: GRRF), a top-tier provider of customized wireless communications equipment and radio frequency (RF) technology solutions. Serving major telecommunications companies like China Mobile Ltd. (NYSE: CHL), the world's largest mobile phone operator, and China Unicom Ltd. (NYSE: CHU), GrenTech’s products enable clients to utilize wireless communications and to expand network access to places known for weak coverage, including buildings, highways, railways, tunnels and rural areas.

GrenTech was cautiously rated a "sector perform" in new coverage by analyst Ittai Kidron at CIBC World Markets on Aug. 10. But given the company's recent successes and future potential, a more bullish outlook may be warranted.

In June, executives announced GrenTech won a bid to supply wireless network equipment for next year's Olympic Games and to help China Mobile design and build the wireless local-area network that will provide high-speed Internet connectivity in the stadiums, gymnasiums and surrounding areas in six cities, including Beijing, Shanghai and Tianjin. GrenTech did not disclose the size of the contract, but analyst Adele Mao with Susquehanna Financial Group estimated it to be in the $1 million to $3.5 million range.

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