• Resources
  • Blog
  • Journalists
  • Log In
  • Sign Up
  • Data Privacy
  • Send a Release
Cision PR Newswire: news distribution, targeting and monitoring home
  • News
  • Products
    • Overview
    • Distribution by PR Newswire
    • Cision Communications Cloud®
    • Cision IR
    • Sponsored Placement
    • All Products
  • Contact
    • General Inquiries
    • Request a Demo
    • Editorial Bureaus
    • Partnerships
    • Media Inquiries
    • Worldwide Offices

 

When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • All Public Company
      • English-only
      • News Releases Overview

      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
      • Multimedia Gallery Overview

      • Trending Topics

      • All Trending Topics
  • Business & Money
      • Auto & Transportation

      • All Automotive & Transportation
      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • Auto & Transportation Overview

      • View All Auto & Transportation

      • Business Technology

      • All Business Technology
      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • Business Technology Overview

      • View All Business Technology

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Financial Services & Investing

      • All Financial Services & Investing
      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • Financial Services & Investing Overview

      • View All Financial Services & Investing

      • General Business

      • All General Business
      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • General Business Overview

      • View All General Business

  • Science & Tech
      • Consumer Technology

      • All Consumer Technology
      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • Consumer Technology Overview

      • View All Consumer Technology

      • Energy & Natural Resources

      • All Energy
      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • Energy & Natural Resources Overview

      • View All Energy & Natural Resources

      • Environ­ment

      • All Environ­ment
      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • Environ­ment Overview

      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • All Heavy Industry & Manufacturing
      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • Heavy Industry & Manufacturing Overview

      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • All Telecomm­unications
      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • Telecomm­unications Overview

      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • All Consumer Products & Retail
      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • Consumer Products & Retail Overview

      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Health

      • All Health
      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • Health Overview

      • View All Health

      • Sports

      • All Sports
      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • Sports Overview

      • View All Sports

      • Travel

      • All Travel
      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • Travel Overview

      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • All Policy & Public Interest
      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • Policy & Public Interest Overview

      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • All People & Culture
      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • People & Culture Overview

      • View All People & Culture

      • In-Language News

      • español
      • português
      • Česko
      • Danmark
      • Deutschland
      • España
      • France
      • Italia
      • Nederland
      • Norge
      • Polska
      • Portugal
      • Россия
      • Slovensko
      • Suomi
      • Sverige
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • Sponsored Placement
  • All Products
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • PR Newswire: news distribution, targeting and monitoring
  • Send a Release
    • ALL CONTACT INFO
    • Contact Us

      888-776-0942
      from 8 AM - 10 PM ET

  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
    • Trending Topics
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • Overview
  • Distribution by PR Newswire
  • Cision Communications Cloud®
  • Cision IR
  • All Products
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices
  • Send a Release
  • Sign Up
  • Log In
  • Resources
  • Blog
  • Journalists
  • RSS
  • GDPR

ChinaSoft International Announces 2011 Annual Results

Service Revenue Increased to RMB1.96 Billion, up 42.6% YoY

EBITDA Reached RMB293 Million, up 46.0% YoY


News provided by

ChinaSoft International Ltd.

Mar 26, 2012, 11:56 ET

Share this article

Share this article


BEIJING, HONG KONG and NEW YORK, March 26, 2012 /PRNewswire-Asia/ -- ChinaSoft International Limited (345. HK) (ChinaSoft International or Company) today released its 2011 Annual Results for the year ended December 31, 2011. According to its annual results announcement, the Company has achieved good performance in its overall operation, with multiple key performance indicators meeting or exceeding previous expectations of the Company. The enhancement in both its scale and efficiency further consolidates the leading position of ChinaSoft International as an end-to-end IT services provider. The summary of 2011 financial report is as follows: 

(RMB'000)

2011

2010

Growth%

Revenue

2,243,754

1,601,211

40.10%

Service Revenue

1,959,885

1,374,424

42.60%

Gross Profit

729,491

513,204

42.10%

Segment Results

218,589

166,539

31.30%

EBITDA

293,184

200,836

46.00%

Non-GAAP Operating Profit*

323,380

233,687

38.40%

Non-GAAP Net Profit**  

155,732

115,461

34.90%

 

 

 

 

Non-GAAP EPS **:  RMB 0.1076

 

Note:

*   Non-GAAP Operating Profit represents EBITDA excluding share option expenses, net foreign exchange loss (gain) and allowance for doubtful debts.

**  Excluding P shares valuation, Impairment loss on goodwill, Gain arising from FV changes of contingent consideration payable on acquisition of business, and Loss on deemed disposal of associates.

As a large comprehensive software and information services provider, ChinaSoft International has been providing end-to-end services ranging from consulting, solution, and outsourcing to talent training. It serves many clients in various verticals including government, large enterprises, manufacturing and logistics, transportation, finance, banking, insurance, securities industries, telecommunication, high-tech as well as public services.

According to its annual results announcement, ChinaSoft International recorded 2011 service revenue of RMB1.96 billion, an increase of 42.6% comparing to year 2010. Gross profit was RMB729 million, up 42.1% YoY. The segment results reached RMB219 million with the 31.3% YoY increase. And the EBITDA increased 46.0% to RMB293 million in 2011. Since its listing in the Hong Kong GEM board, the Company has recorded 38% compound annual rate growth in its revenue and 55% compound increase in services revenue. As of December 31, 2011, the Company had 14,496 employees.

Thanks to the continuous organic growth of its existing businesses and the expansion of new businesses, ChinaSoft International recorded strong performance and rapid growth in all its major businesses in 2011. Service revenue from government and manufacturing business line increased to RMB580 million, representing an increase of 59.0% compared to year 2010; service revenue from BFSI increased by 28.9% YoY to RMB352 million; service revenue from IT outsourcing was RMB959 million, up 40.5% YoY; service revenue from training business increased by 27.4% to RMB69 million.

In 2011, on its third "Strategic Day", ChinaSoft International determined its strategic deployment to adjust organization structure, integrate business resources, establish excellence operation system and prepare and build three main business groups, i.e., Professional Service Group, Outsourcing Service Group and Emerging Service Group. The goal of setting up delivery centers in third-tier cities as stated in its "Three-Year Strategic Development Plan (2010-2012)" achieved breakthrough progress, and the ten-thousand people R&D and delivery base of ChinaSoft International will soon be established in the new software park of the Hi-tech Development Area in Xi'an.

For ChinaSoft International, 2011 was not only a year of building its strategic system; it was also a flourishing year of strategic cooperation. Its collaboration with Microsoft was deepened when Microsoft converted all the preferred shares to common shares, which demonstrated Microsoft's confidence in its further cooperation with ChinaSoft International. Besides, ChinaSoft International introduced Hony Capital (a PE fund sponsored by Legend Holdings Limited) as its strategic investors and formed strategic cooperation partnership. Leveraging Hony Capital's brand name, industry recognition and capital market resources, Chinasoft International will act as the platform to consolidate information services industry. Dr. Chen Yuhong, Chairman of the Board of ChinaSoft International said, "The introduction of Hony Capital as our largest substantial shareholder would be the Company's 'magic cudgel', which will support the management to run and focus on the business, support the Company to engage in acquisition and merger at home and abroad, and become a powerful backing to fuel the market deployment of the Company. Meanwhile, enterprises associated with Legend and Hony Capital are themselves word-class companies, which in return are the best targets for the Company in exploring its cornerstone customers."

Looking ahead in 2012, ChinaSoft International will embrace a new historical opportunity: signing a joint venture agreement with Huawei for building a flagship software outsourcing company. ChinaSoft International will start from being Huawei's eminent supplier to build an excellent operation system featuring strategic planning, quality management, project management, customer satisfaction etc., such that our organization and flow, quality system and human resources system are aligned strictly with those of Huawei, in order to become its most reliable strategic cooperation partner in respect of the outsourcing services.

Along with the acceleration of industrial transformation and services upgrades in Mainland China, ChinaSoft International will further consolidate its industrial leadership by enhancing its capabilities in consulting driven enterprise-level application services, information integration based on self-owned Intellectual Property middleware, software outsourcing based on cloud computing, database center operation and extension services among others.

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/cms/cms/website/csienglish/csi/notice.jsp?channelId=270&siteId=2

About ChinaSoft International Limited, "CSI" (354.HK)

Founded in 2000, ChinaSoft International Limited is a listed company in Hong Kong 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 15,000 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.

Modal title

Contact Cision

  • Cision Distribution 888-776-0942
    from 8 AM - 9 PM ET

  • Chat with an Expert
  • General Inquiries
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • Media Inquiries
  • Worldwide Offices

Products

  • Cision Communication Cloud®
  • For Marketers
  • For Public Relations
  • For IR & Compliance
  • For Agency
  • For Small Business
  • All Products

About

  • About PR Newswire
  • About Cision
  • Become a Publishing Partner
  • Become a Channel Partner
  • Careers
  • COVID-19 Resources
  • Accessibility Statement
  • Asia
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Israel
  • Italy
  • Mexico
  • Middle East
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United Kingdom

My Services

  • All New Releases
  • Online Member Center
  • ProfNet

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2022 Cision US Inc.