Prestigious International Recognition for Longtop's Market Leadership in China
HONG KONG, Nov. 5 /PRNewswire-Asia/ -- Longtop Financial Technologies Limited ("Longtop") (NYSE: LFT), a leading software developer and solutions provider targeting the financial services industry in China, announced that Longtop was the highest ranked Chinese company in the Global FinTech 100. The Global FinTech 100 is an annual listing of the top global technology providers for financial institutions which is published by American Banker, Banker Technology News, and Financial Insights, an IDC company. Longtop was ranked 62nd in the annual global ranking and this was the first time Longtop has been ranked in the Global FinTech 100.
"This ranking illustrates Longtop's leading presence in China's financial services industry and the growing importance of China within the global financial services industry," said Weizhou Lian, Chief Executive Officer of Longtop. "We believe the financial services industry in China is poised for long-term expansion. Financial institutions in China are investing heavily to build a strong IT infrastructure, which is essential to the financial industry's growth. As the market leader, we are well positioned to capture this growth opportunity."
For more information about the rankings, visit http://www.financial-insights.com/fintech .
To view the FinTech Special report, visit http://www.AmericanBanker.com/fintech100 .
About Longtop Financial Technologies Limited
Longtop is a leading software development and solutions provider targeting the financial services industry in China. Longtop develops and delivers a comprehensive range of software applications and solutions with a focus on meeting the rapidly growing IT needs of the financial services institutions in China. Longtop has six solution delivery centers, three research and development centers and seventy-five ATM service centers located in 27 provinces throughout China. For more information, please visit: http://www.longtop.com .
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "believes," "expects," "anticipates," "intends," "estimates," the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include the effectiveness, profitability, and marketability of the company's solutions; the Company's limited operating history; its reliance on a limited number of customers that continue to account for a high percentage of the Company's revenues; risk of payment failure by any of its large customers, which could significantly harm the Company's cash flows and profitability; the ability of the Company to operate effectively as a public company; future shortage or availability of the supply of employees; general economic and business conditions; the volatility of the company's operating results and financial condition; the company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the companies and the industry. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. Any projections in this release are based on limited information currently available to us, which is subject to change.
For more information, please contact:
For Investors:
Longtop Financial Technologies Limited
Charles Zhang, CFA
Email: ir@longtop.com
Tel: +86-10-84217758
For Media:
IR Inside BV
Caroline Straathof
Email: info@irinside.com
Tel: +31-6-54624301