Revenue up 24.1% YOY, Service Revenue up 30.3% YOY
BEIJING, HONG KONG and NEW YORK, Aug. 17, 2012 /PRNewswire-Asia/ -- ChinaSoft International Limited (354. HK) (hereinafter referred to as ChinaSoft International or the Company) today announces its unaudited interim results for the period ended June 30, 2012. The summary of the financial report of the first half of 2012 is as follows:
| As of June 30 |
|||
| (RMB'000) |
2012 |
2011 |
Growth% |
| Revenue |
1,173,504 |
945,595 |
24.1% |
| Service Revenue |
1,110,874 |
852,382 |
30.3% |
| Gross Profit |
360,700 |
308,448 |
16.9% |
| Profit for the Period |
65,437 |
7,532* |
768.8% |
| EBITDA |
141,776 |
127,262 |
11.4% |
| Note: |
| * Profit for the period for 2011 included a charge relating to changes in fair value of redeemable convertible preferred shares; without this non-cash charge, the 2011 figure would have been RMB 60,589K. On this more comparable basis, profit for the period for 2012 would have been 8.0% higher than that of the same period for 2011. |
As a large comprehensive software and information services provider, ChinaSoft International has been providing end-to-end software and information services ranging from consulting, solution, and outsourcing to talent training. It serves many clients in various verticals including governments, large enterprises, manufacturing and logistics, transportation, finance, banking, insurance, securities industries, telecommunication, high-tech industry as well as public services. During the first half of 2012, ChinaSoft International delivered a solid performance with its business increasing continuously and healthily, and its revenue and gross profit have a big range of increase comparing to the same period of last year.
According to its interim results announcement, ChinaSoft International recorded the first half of 2012 revenue of RMB 1.17 billion, representing an increase of 24.1% comparing to the same period of last year. The Company realized RMB 1.11 billion in service revenue, representing an increase of 30.3% compared with the same period of last year. The gross profit amounted to RMB 361 million, representing an increase of 16.9% compared with the same period of last year. EBITDA reached RMB 142 million with a YOY increase of 11.4%. 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 service revenue. As of June 30, 2012, there are 17,053 employees.
ChinaSoft International indicated that the revenue growth during the reporting period benefited from the rapid and balanced development of the businesses. Service revenue from Professional Service field increased 31.3% compared to the same period of last year, service revenue from Outsourcing service increased by 30.3% YOY, and service revenue from the Training Service increased by 17.3% YOY.
During the reporting period, in addition to maintaining its leading position in competitive industries, the Company has made breakthrough progress in insurance and energy industries, establishing stable partnerships with many key companies in these industries. ChinaSoft International indicated that the Company's core advantages, including industry experience, end-to-end service model, workforce and platform for talent supply and win-win cooperation with world-class strategic partners, continue to improve, and have demonstrated their strong impetus for businesses.
The Company continues to perform at a high level in global delivery capability and technology innovation. After years of arrangement, the Company has the ability for global services, with a quick response mechanism in place for business deliveries in different parts of the world such as China, the United States and Japan. By cooperating with Huawei, it has gradually integrated Huawei's mature management of quality and delivery and human resources management practice, and the Company's service delivery capability has been improved to a new level.
With regards to technology innovation, the Company made further progress in ResourceOne platform, a SOA middleware platform product it developed to provide application support for industry solution. At present, ResourceOne has made significant progress in the field of cloud computing. Combined with the technologies of parallel computing, distributed computing and virtualization, ResourceOne has increased the high-performance process capabilities of mass data, and started to play a role in industry application. By integrating extended support of mobile internet and mobile terminal in cloud computing architecture, the newly launched ResourceOne Enterprise Application Mobile Support provides cloud and mobile terminal integration platform support, through which enterprises can quickly customize mobile application capability based on ResourceOne cloud services. ResourceOne continues to be a leader in the industry application middleware space.
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 in industries including government, manufacturing, finance, telecommunication, high-tech, transportation as well as energy. It provides global services to over 100 multinational companies with over 17,000 employees located worldwide, based in 25 cities in mainland China, as well as Hong Kong, Princeton NJ, Seattle, London, Tokyo and more. For more information, please visit www.chinasofti.com.
