Chinasoft Releases 2015 Interim Results: Net Profit Grew 38% YoY

BEIJING and HONG KONG, Aug. 18, 2015 /PRNewswire/ -- Chinasoft International Limited (Chinasoft / the Group) (SEHK: 354) announced its unaudited 2015 interim results today.

For the first half of 2015, Chinasoft's revenue, profit attributable to shareholders, and EPS were RMB 2.39 billion, RMB 140 million, and RMB 7.23 cents, representing YoY growth of 23%, 38%, and 33% respectively.

For the first half of 2015, the Group's businesses grew steadily and healthily.

"JointForce" Enterprise Edition Announced - Online Business Initiated

During the reporting period, the JointForce platform, an Internet-based cloud crowd-sourcing platform developed by the Group, launched its commercial services on 19 June 2015. During the launch event, the "pioneers" of the IT world gathered to express their expectations for JointForce and opportunities for future cooperation. The JointForce responded to their expectations with promising results. Since the launch, registered users grew rapidly. There are now over 1,600 registered enterprises, 300 registered engineering teams, and 41,000 certified engineers on the platform. On the JointForce platform, the Group no longer does any software development, but instead stand ready as a third party IT company to match, facilitate with and protect the participants of the platform, including enterprise businesses customers, programmers and programming teams. Looking at completed project evaluations, 100% of all the enterprise customers gave a "thumbs-up" for their experiences on JointForce.

During the reporting period, JointForce's product capabilities increased significantly. The website and mobile app's user experience became more user-friendly and provided better and more comprehensive communications. In order to ensure on-time delivery and quality control, JointForce now offers more transaction, signing, and payment models, PTS value add services, and code quality control services. JointForce's platform performance, stability, and security also improved significantly, setting a solid foundation for operation.

During the reporting period, the Group developed an SME Internet + Accelerator service product, supporting growth oriented SMEs through third party products such as Tencent's WeChat SME Account Direct, IT Express, and through other government and enterprise customized IT services. This product and the associated services will connect with SME platforms from other focused cities in China, thus creating a network of demand to be served via our JointForce platform. We envision an active eco-system of SMEs built around this network that will place projects on JointForce, fully exploiting the efficiency and convenience that JointForce provides to its enterprise customers. At the same time, the Group will use internet marketing channels to rapidly promote JointForce. In regions with large potential customer base, the Group will use market segmentation to further promote JointForce, cooperate with additional government and industry associated channels, connect with more enterprise and partner resources, and use Tencent's WeChat SME Account Direct program to reach and build relationships with scalable end users.

Cooperation with Huawei Rising to Next Level; Re-organizing Offline Business

During the reporting period, the Group and Huawei's cooperation deepened. The Group has already begun pioneering cooperation with Huawei on cloud computing, big data, Industry 4.0 and other new service areas, together working on pilot projects and joint R&D with Huawei's products industry solutions. In doing so we are interacting with a large number of Huawei's delivery resources, such as consulting, designing, solution development, maintenance services and end-to-end operating service models.  Looking forward, we see the close cooperation to bring us three benefits. First, close relations with Huawei's industry sector business will benefit the Group as more Chinese-made equipment are bought in China. Huawei is in the process of becoming the first choice in the Chinese IT vendor world. The second area of benefit comes from the close cooperation with Huawei in international markets, obtaining profits from the globalization of IT services. The international IT services market generally has higher pricing levels, and it is also a market dominated by Indian companies. Huawei has already started to promote its cloud computing and big-data analysis solutions on a global scale. To us, this is an opportunity to leap-frog the competition. The third benefit for the Group is a chance to learn from Huawei's powerful execution-capability culture, allowing us to improve ourselves in organization and management. We want to become the Huawei of the IT services sector. Our off-line business will be organized in line with comprehensive strategic cooperation with Huawei, mainly focused on scaled industry domains in finance & banking, insurance and securities and public works, matching with Huawei's business and organization. Under this framework, the Group's off-line business will be upgraded based on Huawei products, mainly in areas of cloud computing and big-data analysis capabilities.

In conclusion, the Group's business will be driven by two wheels. For off-line business, Huawei will be the cornerstone. For on-line business, JointForce will be at the forefront to promote and motivate off-line and on-line businesses.

In recent days the Group's stock was added into the Hang Seng Composite Index -- small cap. This is the first time the Group's stock is incorporated into a major stock index, showing the global capital market's confidence in the Group. In the future, the Group believes with the support of the capital market, the off-line business will rise to the next level and the on-line business will soar and achieve a dual wheel growth!

For More Information on the Interim Results, Please Visit HKEX's Website:
http://www.hkexnews.hk/listedco/listconews/advancedsearch/search_active_main.asp

Or Chinasoft's Official Website:
http://www.chinasofti.com/superWebCMS/pages/sites/MainSite/html/zh/investor/announcement.shtml

About ChinaSoft International Limited (SEHK:354)

Founded in 2000, ChinaSoft International Limited is a listed company on the Hong Kong Stock Exchange with its code of 354.HK. It is a large China based comprehensive software and information services provider, ranging from end-to-end services of consulting, solution, outsourcing and talent training. It serves clients in manufacturing, finance, telecommunication, high-tech, transportation, energy and also the government. The Company provides global services to over 100 multinational companies with close to 27,000 employees located worldwide based in 39 cities including mainland China, Hong Kong, Princeton, Seattle, London, Tokyo and etc. For more information, please visit www.chinasofti.com.

SOURCE ChinaSoft International Ltd.

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