Click here to close now.




















Welcome!

News Feed Item

ChinaSoft International Recorded an over 20% increase in 2013 Service Revenue & a 33% increase in Profit for the Period

Developing Cloud-Based Crowd Sourcing Platform - JointForce. Aiming for Social Based Innovative IT Services Model.

BEIJING and HONG KONG, March 26, 2014 /PRNewswire/ -- ChinaSoft International Limited ("ChinaSoft" or "the Company") (SEHK:354) today released its 2013 Annual Result for the year ended December 31, 2013.

For the year ended December 31, 2013, the Company recorded service revenue of RMB 3.07 billion, an increase of 20.2% compared to the same period in 2012. Profit for the year increased by 33.2% to RMB 200 million. At December 31st 2013, the Company had over 23,600 employees.

The Company's management believes that revenue growth currently is still linear in respect to the number of Company's software engineers. The company and the IT industry face a common pain point: that clients are constantly looking for better quality services while software engineers are constantly looking to earn more money; all the while IT service enterprises are looking for ways to lower labor costs and improve productivity. To solve this issue, the Company invested and developed the "JointForce" cloud based crowd-sourcing platform in hopes to "break through" the current industry status quo and provide an efficiency platform for the IT service enterprises. This would be a new working platform for software engineers and also a service-providing platform for customers. In JointForce large projects are subdivided and smaller tasks are posted onto the platform. Software engineers, internally from within the Company or invited engineers from outside, are free to choose the tasks they like. The platform will provide tools to allow engineers to manage themselves. The platform will also serve as a motivational source for a more proactive and efficient workforce. The Company, customers, and other IT companies can rely on the social project management tools on JointForce platform and submit quality "delivery guarantee" function to ensure quality delivery completion. The management believes that the introduction of "JointForce" will not only generate additional revenue for the Group, but also transform customer experience and revolutionize the IT services industry. Dr. Chen Yuhong, Chairman of the Board of ChinaSoft International stated, "We must change our growth strategies to double our topline revenue and reach RMB 10.0 billion target. We will use the JointForce platform as a means to achieve our new goal and rapidly increase our revenue and profitability. We will start with constructing a municipal cloud network, using Ali-Cloud and partnering with other cloud leaders as well as local software delivery capacities. We plan to harness the power of JointForce to minimize per-location cost while benefiting our local partners, and in the process create a crowd-sourcing delivery eco-system. This will 'liberate' the IT service industry, and achieve the ideal that will allow all engineers to be prominent and all customers to be VIP's."

For the year ended December 31, 2013, ChinaSoft's net profit attributable to equity shareholders was RMB 148 million, up 11.3% YoY. One notable item is that this figure for 2013 includes the effect of profit sharing on the JV with Huawei (ChinaSoft 60% - Huawei 40%). Excluding the effect from the Huawei JV, Net Profit attributable to Equity Shareholders would have been RMB $188 million compared to RMB 133 million in 2012, an increase of 41% on a year over year basis.

In 2013, the Company received the top grade as suppliers for Huawei's main product line and main research institute. The Company believes that under the "tutelage of master," the Company's professional services capabilities have improved profoundly. In the reporting period, the Company participated in Huawei's cloud payment project, and became part of the supply chain layout. The Company hopes to eventually create its own system throughout Asia, Europe, and South America. In addition, the Company acquired Catapult Systems, an American cloud integration service company. The professional and outstanding management of Catapult will surely stir up the Company's passion for expansion in the global markets. Leveraging what the Company learned from Huawei in respect to professional service capabilities, combined with Catapult's advanced management expertise and experience in matured markets, the Company will push its service to a broad and high potential market.

The Company believes that 2013 was the starting year for "Internet Conversion of Traditional Industries." Social, mobile, analytics, and cloud technologies are riding at the forefront of this transformation, and the Company is in position to capitalize on this opportunity due to the foundation it has built in mobile and cloud technology. Cloud computing and cloud services are the future of the industry. Since entering into a strategic partnership with Ali-Cloud two years ago, the Company has seen fruitful results in cloud integration service, cloud middleware platform, government cloud, and cloud applications. During the reporting period, the Company worked closely with Ali-Cloud in Zhejiang Province e-government pilot projects, CITIC 21CN drug regulatory cloud platforms and other projects. This established ChinaSoft's competitive advantage in cloud integration service and government cloud. Mobile Internet is IT consumerization's core strength, and the Company has already had a breakthrough after it acquired MMIM to develop mobile Internet services. In the reporting period, the Company won the bid for ChinaMobile's Fetion mobile client development and support project, as well as mobile unified payment, wireless cities and other strategic projects. This allowed the Company to become a core technology service provider to ChinaMobile. During the Company's fifth strategy day in December of 2013, the Emerging Services Group with SMAC capabilities was established, sending the Company on a new development journey.

Year 2014 will be a historical year for ChinaSoft. Through the foundation laid in years past, the Company will begin its transformation to a platform driven service model. It will surely be worth the wait!

ChinaSoft strongly believes that all over the world the IT services business model is changing due to the evolution of information technologies like cloud computing, social networking, mobile communications and big data analytics. As part of its growth strategy set in 2011, ChinaSoft embraced the Professional, Outsourcing and Emerging (POE) structure. The Company will pursue growth in its traditional IT professional consulting & solutions business (P) and outsourcing business (O) while pushing into innovative and emerging technologies (E) such as cloud computing and mobile communications. The Company believes that this transformation is in alignment with the strategies of its customers such as Alibaba, China Mobile, Huawei and Microsoft.

For more information related to annual result, please click:
http://www.hkexnews.hk/listedco/listconews/advancedsearch/search_active_main.asp  

Or visit the official website of ChinaSoft International
http://www.chinasofti.com/superWebCMS/pages/sites/MainSite/html/en/investor/announcement.shtml

About ChinaSoft International Limited, "CSI" (354.HK)
Founded in 2000, ChinaSoft International Limited is a listed company in the Hong Kong Stock Exchange with its code of 354.HK. It is a large Chinese comprehensive software and information services provider, ranging from end to end services of consulting, solution, outsourcing and talent training. It serves clients including government, manufacturing, finance, telecommunication, high-tech, transportation as well as energy. It provides global services to over 100 multinational companies with 23,607 employees located worldwide based in 25 cities including mainland China, Hong Kong, Princeton, Seattle, London, Tokyo and etc. For more information, please visit www.chinasofti.com.

SOURCE ChinaSoft International Ltd.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and a...
Red Hat is investing in Tesora, the number one contributor to OpenStack Trove Database as a Service (DBaaS) also ranked among the top 20 companies contributing to OpenStack overall. Tesora, the company bringing OpenStack Trove Database as a Service (DBaaS) to the enterprise, has announced that Red Hat and others have invested in the company as a part of Tesora's latest funding round. The funding agreement expands on the ongoing collaboration between Tesora and Red Hat, which dates back to Febr...
The Internet of Things (IoT) is about the digitization of physical assets including sensors, devices, machines, gateways, and the network. It creates possibilities for significant value creation and new revenue generating business models via data democratization and ubiquitous analytics across IoT networks. The explosion of data in all forms in IoT requires a more robust and broader lens in order to enable smarter timely actions and better outcomes. Business operations become the key driver of I...
In their Live Hack” presentation at 17th Cloud Expo, Stephen Coty and Paul Fletcher, Chief Security Evangelists at Alert Logic, will provide the audience with a chance to see a live demonstration of the common tools cyber attackers use to attack cloud and traditional IT systems. This “Live Hack” uses open source attack tools that are free and available for download by anybody. Attendees will learn where to find and how to operate these tools for the purpose of testing their own IT infrastructu...
SYS-CON Events announced today that DataClear Inc. will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The DataClear ‘BlackBox’ is the only solution that moves your PC, browsing and data out of the United States and away from prying (and spying) eyes. Its solution automatically builds you a clean, on-demand, virus free, new virtual cloud based PC outside of the United States, and wipes it clean...
It’s been proven time and time again that in tech, diversity drives greater innovation, better team productivity and greater profits and market share. So what can we do in our DevOps teams to embrace diversity and help transform the culture of development and operations into a true “DevOps” team? In her session at DevOps Summit, Stefana Muller, Director, Product Management – Continuous Delivery at CA Technologies, answered that question citing examples, showing how to create opportunities for ...
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ab...
A producer of the first smartphones and tablets, presenter Lee M. Williams will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ETwater. In his session at @ThingsExpo, Lee Williams, COO of ETwater, will talk about how he is now applying his experience in mobile technology to the design and development of the next generation of Environmental and Sustainability Services at ET...
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Whether you like it or not, DevOps is on track for a remarkable alliance with security. The SEC didn’t approve the merger. And your boss hasn’t heard anything about it. Yet, this unruly triumvirate will soon dominate and deliver DevSecOps faster, cheaper, better, and on an unprecedented scale. In his session at DevOps Summit, Frank Bunger, VP of Customer Success at ScriptRock, will discuss how this cathartic moment will propel the DevOps movement from such stuff as dreams are made on to a prac...
Cloud and datacenter migration innovator AppZero has joined the Microsoft Enterprise Cloud Alliance Program. AppZero is a fast, flexible way to move Windows Server applications from any source machine – physical or virtual – to any destination server, in any cloud or datacenter, using its patented container technology. AppZero’s container is also called a Virtual Application Appliance (VAA). To facilitate Microsoft Azure onboarding, AppZero has two purpose-built offerings: AppZero SP for Azure,...
WSM International, the pioneer and leader in server migration services, has announced an agreement with WHOA.com, a leader in providing secure public, private and hybrid cloud computing services. Under terms of the agreement, WSM will provide migration services to WHOA.com customers to relocate some or all of their applications, digital assets, and other computing workloads to WHOA.com enterprise-class, secure cloud infrastructure. The migration services include detailed evaluation and planning...
This Enterprise Strategy Group lab validation report of the NEC Express5800/R320 server with Intel® Xeon® processor presents the benefits of 99.999% uptime NEC fault-tolerant servers that lower overall virtualized server total cost of ownership. This report also includes survey data on the significant costs associated with system outages impacting enterprise and web applications. Click Here to Download Report Now!
IBM’s Blue Box Cloud, powered by OpenStack, is now available in any of IBM’s globally integrated cloud data centers running SoftLayer infrastructure. Less than 90 days after its acquisition of Blue Box, IBM has integrated its Blue Box Cloud Dedicated private-cloud-as-a-service into its broader portfolio of OpenStack® based solutions. The announcement, made today at the OpenStack Silicon Valley event, further highlights IBM’s continued support to deliver OpenStack solutions across all cloud depl...