SHENYANG, China, Dec. 26 /Xinhua-PRNewswire/ -- Shenyang Neusoft Co., Ltd. (600718.SS), a subsidiary company of Neusoft Group Ltd. that is well recognized as a leading IT solutions & services provider in China, made an announcement today that its share-swap merger plan with Neusoft Group Ltd. was approved by the Restructuring Committee under the China Securities Regulatory Commission (CSRC), which indicates that the Neusoft Group's overall listing plan brewed up over the past year was finally approved by the CSRC for an immediate implementation. Such a promising overall listing is an explicit indication that Neusoft has made quite a significant move in its global expansion, which further helps lay a solid foundation for accomplishing its objective to become an outstanding global IT solutions & services company.
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Dr. Liu Jiren, Chairman of Neusoft Co., Ltd. and Chairman & CEO of Neusoft Group Ltd., states that the upcoming overall listing will be a shining milestone in Neusoft's history and have a far-reaching influence on its growth. The overall listing will help Neusoft further enhance its company-wide governance. By leveraging the respective resources, technologies, products, and management strength from Neusoft Group and Neusoft Co., Ltd., the overall listing will also improve comprehensive operational efficiency, and enable a fruitful interaction in global operations between them. As a result, Neusoft may not only create more customer value, but also deliver more returns to its investors. In the meantime, Neusoft will be dedicated to becoming an outstanding, respectable global IT solutions and services provider with worldwide strength.
It is reported that Neusoft Co., Ltd. has currently a capital stock of RMB 280 million Yuan, among which, 50.30% is held by the holding shareholder, Neusoft Group Ltd. Based on the merger plan, Neusoft Co., Ltd. is to exchange its shares with Neusoft Group Ltd. at a ratio of 1:3.5 to complete the merger. Neusoft's total capital stock will rise up to RMB 520 million Yuan after such a merger.
As shown in the up-to-date statistics, Neusoft Co., Ltd. is a leading IT solutions & services provider in China with operations both in and outside the Chinese market. The Company now has a high market coverage in the fields of e-government, public facilities, and business solutions, and has maintained a leading status in the sectors of telecom, electric power, social security and finance for years. International software outsourcing is another strength of the Company, which has, particularly, experienced a high-speed growth in embedded car audio and navigation systems for its years of development knowledge and expertise. In addition, it is the only one in China as well as one of the several in the world that has the capacity to develop and manufacture high-end digital medical systems such as CT scanner, MRI, and digital X-ray systems. In its fiscal year 2006, the Company created an annual operating income of approximately RMB 2.7 billion Yuan. Meanwhile, as the holding shareholder of Neusoft Co., Ltd., Neusoft Group Ltd. has maintained a No. 1 position in global software and service outsourcing in China, witnessing a high growth for years. It has a strong competitive edge in outsourcing from Japan, Europe, and America, especially, in terms of embedded software, industry solutions and BPO. That's the exact reason why the Group has been listed No. 1 in China's offshore software outsourcing industry for years by CCID, a leading professional market research and management consultancy in China. In 2007, the Group ranked No.1 in Top 10 to Watch in Emerging Asian Markets by the US-based Global Services and neoIT, and ranked top 25 among the Global Outsourcing 100 by the International Association of Outsourcing Professionals (IAOP).
For more information, please contact:
Evelyn Tang,
PR Dept., Neusoft Group Ltd.
Tel: +86-24-8366-5663
Fax: +86-24-8366-3451
Email: tangyi@neusoft.com
