ThinSoft (Holdings) Inc Proposes to Change Its Name to Ruifeng Petroleum Chemical to Better Reflect the New Fuel Oil Business

HONG KONG, Jan. 31 /PRNewswire-Asia/ -- ThinSoft (Holdings) Inc ("The Company" or "ThinSoft", stock code: 8096.HK), proposes to change its English name from "ThinSoft (Holdings) Inc" to "Ruifeng Petroleum Chemical Holdings Limited", subject to the passing of a special resolution by the shareholders of the Company at its extraordinary general meeting and approval from the Registrar of Companies in the Cayman Islands.

The Group was principally engaged in the development and distribution of computing software and related products, and diversified its business into the fuel oil related business later last year. The proposed name change is to better reflect the Company's core business. Mr. Yu Won- Kong, Dennis, Chairman of ThinSoft, said, "The new name will better represent the Company's corporate image. It can create a clear identification and positioning of ThinSoft among investors and shareholders, which will in turn benefit our business development in the future." 

ThinSoft announced earlier that it acquired the entire stake in Foshan Ruifeng Petroleum, a leading fuel oil processing company in Guangdong, and its subsidiaries for RMB630 million. Foshan Suifeng Fossil Fuel and Foshan Beili Fuel Storage are subsidiaries of the Ruifeng Group, which own oil tanks, a loading terminal and other related facilities in Foshan. The two companies are principally engaged in leasing of oil tanks and fuel oil trading business, and will start sales and tradings of fuel oil and other related products in the Southern and Eastern China.

About ThinSoft (Holdings) Inc.

ThinSoft (Holdings) Inc. is listed on the Growth Enterprise Market of the Stock Exchange of Hong Kong Limited (stock code: 8096). ThinSoft owns subsidiaries Ruifeng, Beili and Suifeng in Foshan in the PRC, and is principally engaged in petroleum refinery, oil storage and fuel oil trading business. The Group is also engaged in the development and distribution of computing software and related products.