ChinaSoft International Announced 2010 Annual Results
Revenue from Service Amounted to RMB1.37 Billion
Segmental Results Reached RMB167 Million
BEIJING and HONG KONG, March 28, 2011 /PRNewswire-Asia/ -- ChinaSoft International Limited (354.HK)(ChinaSoft or the company) is pleased to announce the Audited Annual Result for the year ended December 31, 2010. The summary of the company result is in the following table.
Business Contribution Profit*
Profit for the year** and EPS (excluding Prefer shares valuation impact): RMB115,461K and RMB0.0987
* Business Contribution Profit means EBITDA excluding share option expenses, net foreign exchange loss (gain) and allowance for doubtful debts.
** Profit for the year means net profit excluding changes in fair value of redeemable convertible preferred shares.
The year 2010 was a year during which the company experienced healthy and rapid business developments. The company's revenue from service amounted to RMB1.37 billion, representing an increase of 49.2% compared to that of the previous year. Segment results reached RMB167 million, representing a year on year growth of 126.3%, with significant growth recorded at all lines of business of the company. With the total number of employees breaking through the symbolic level of ten thousand people, Chinasoft International has become one of China's largest information technology service providers. After eight years of efforts, the company has gained "end-to-end" service capability in aspects ranging from IT consulting, IT technology to IT outsourcing. The company's service has covered major vertical industries including the government and manufacturing industry, financial and banking industries, telecom and high tech industries and the service areas have expanded to the Americas, Europe, Japan and other regions. The company has preliminarily completed an overall layout in vertical industries, service offering and service areas. The year 2010 was the first year of Chinasoft International's three-year plan for year 2010-2012. The company has set the goal of the world's top hundred software service enterprises during the planning period. One may expect that the company will enter a new period of rapid growth.
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About ChinaSoft International:
ChinaSoft International Limited, "CSI" (354.HK), is a global Information technology service company rooted in China with end to end service capability. The major verticals we cover are: Government and Manufacturing, Finance and Banking, Telecommunications, High-Technology, Transportation and Logistics. The Services we offer include: IT consulting, IT technical service solution and IT outsourcing service.
CSI has reached annual revenue over 1.6 billion RMB with more than 10,000 employees located worldwide, including 25 cities in China, Princeton, NJ and Seattle, WA in the US, as well as Tokyo in Japan and London in England.
CSI has achieved 57% service revenue CARG in the past eight years.
SOURCE ChinaSoft International Ltd.