SHENZHEN, China, March 29, 2011 /PRNewswire-Asia-FirstCall/ -- Jingwei International Limited (Nasdaq: JNGW) ("Jingwei" or the "Company") today announced it has signed a strategic business partnering agreement (the "agreement") with Zhejiang China Unicom to leverage Jingwei's data mining, interactive marketing and software service expertise to design, develop and operate Zhejiang China Unicom's mobile and mobile value-added services ("MVAS") Society Channel and marketing support system to support its over 80,000 society channel depots in Zhejiang province for optimal marketing results on "revenue sharing" basis.
The agreement is for an initial term of 3 years; and is renewable by mutual consent. Under the agreement, Jingwei will design, build and operate the mobile and MVAS Society Channel and marketing support platform for Zhejiang China Unicom. With the deployment of this platform and participation in its daily operation, Jingwei will enjoy a share of the revenues derived from sales and service contracts generated from the channel depots supported by the system.
Commenting on the announcement, George Du, President and Chairman of Jingwei said, "We are delighted to be the partner of choice on this strategic initiative for Zhejiang China Unicom to capitalize on the robust growth of mobile and MVAS applications to efficiently and profitably grow their business."
Rick Luk, Chief Executive Officer of Jingwei, said "Today's announcement signals another significant milestone in the development of Jingwei as this agreement is expected to translate to attractive recurring revenue to strengthen our business." Mr. Luk continued, "More importantly, this not only serves as another testimonial for our technology and market leadership, following a similar system we deployed for Guangdong China Unicom last year, it further reinforces our established, long term relationships with a premier telecommunications carrier in China."
About Jingwei International
Jingwei International Limited ("Jingwei" or the "Company") is a leading provider of data mining, interactive marketing and software services in China. By leveraging its proprietary database of over 400 million consumer profiles, Jingwei helps companies to more effectively reach their target audiences. To capitalize on China's rapid growth in mobile, Internet and e-Commerce applications, Jingwei has focused on enhanced data mining offerings that encompass interactive marketing, bundled mobility solutions and mobile value added services. The Company's software services include business intelligence ("BI"), billing and operations support ("BSS/OSS"), and customer relationship management ("CRM") solutions for Chinese telecom operators and power companies. For more information, please visit the Company's web site: http://www.jingweicom.com.
Safe Harbor Statement
Certain of the statements made in the press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding our future plans, objectives or performance. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with effects of changing economic conditions in The People's Republic of China, variations in cash flow, reliance on new product development, variations in new product development, risks associated with rapid technological change, and the potential of introduced or undetected flaws and defects in products, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.
Jingwei International Limited
Yong Xu or Cao Wei
SOURCE Jingwei International Limited