SYS-CON MEDIA Authors: Vormetric Blog, Jason Bloomberg, Liz McMillan, Pat Romanski, Elizabeth White

News Feed Item

ChinaSoft International Recorded an over 20% increase in 2013 Service Revenue & a 33% increase in Profit for the Period

Developing Cloud-Based Crowd Sourcing Platform - JointForce. Aiming for Social Based Innovative IT Services Model.

BEIJING and HONG KONG, March 26, 2014 /PRNewswire/ -- ChinaSoft International Limited ("ChinaSoft" or "the Company") (SEHK:354) today released its 2013 Annual Result for the year ended December 31, 2013.

For the year ended December 31, 2013, the Company recorded service revenue of RMB 3.07 billion, an increase of 20.2% compared to the same period in 2012. Profit for the year increased by 33.2% to RMB 200 million. At December 31st 2013, the Company had over 23,600 employees.

The Company's management believes that revenue growth currently is still linear in respect to the number of Company's software engineers. The company and the IT industry face a common pain point: that clients are constantly looking for better quality services while software engineers are constantly looking to earn more money; all the while IT service enterprises are looking for ways to lower labor costs and improve productivity. To solve this issue, the Company invested and developed the "JointForce" cloud based crowd-sourcing platform in hopes to "break through" the current industry status quo and provide an efficiency platform for the IT service enterprises. This would be a new working platform for software engineers and also a service-providing platform for customers. In JointForce large projects are subdivided and smaller tasks are posted onto the platform. Software engineers, internally from within the Company or invited engineers from outside, are free to choose the tasks they like. The platform will provide tools to allow engineers to manage themselves. The platform will also serve as a motivational source for a more proactive and efficient workforce. The Company, customers, and other IT companies can rely on the social project management tools on JointForce platform and submit quality "delivery guarantee" function to ensure quality delivery completion. The management believes that the introduction of "JointForce" will not only generate additional revenue for the Group, but also transform customer experience and revolutionize the IT services industry. Dr. Chen Yuhong, Chairman of the Board of ChinaSoft International stated, "We must change our growth strategies to double our topline revenue and reach RMB 10.0 billion target. We will use the JointForce platform as a means to achieve our new goal and rapidly increase our revenue and profitability. We will start with constructing a municipal cloud network, using Ali-Cloud and partnering with other cloud leaders as well as local software delivery capacities. We plan to harness the power of JointForce to minimize per-location cost while benefiting our local partners, and in the process create a crowd-sourcing delivery eco-system. This will 'liberate' the IT service industry, and achieve the ideal that will allow all engineers to be prominent and all customers to be VIP's."

For the year ended December 31, 2013, ChinaSoft's net profit attributable to equity shareholders was RMB 148 million, up 11.3% YoY. One notable item is that this figure for 2013 includes the effect of profit sharing on the JV with Huawei (ChinaSoft 60% - Huawei 40%). Excluding the effect from the Huawei JV, Net Profit attributable to Equity Shareholders would have been RMB $188 million compared to RMB 133 million in 2012, an increase of 41% on a year over year basis.

In 2013, the Company received the top grade as suppliers for Huawei's main product line and main research institute. The Company believes that under the "tutelage of master," the Company's professional services capabilities have improved profoundly. In the reporting period, the Company participated in Huawei's cloud payment project, and became part of the supply chain layout. The Company hopes to eventually create its own system throughout Asia, Europe, and South America. In addition, the Company acquired Catapult Systems, an American cloud integration service company. The professional and outstanding management of Catapult will surely stir up the Company's passion for expansion in the global markets. Leveraging what the Company learned from Huawei in respect to professional service capabilities, combined with Catapult's advanced management expertise and experience in matured markets, the Company will push its service to a broad and high potential market.

The Company believes that 2013 was the starting year for "Internet Conversion of Traditional Industries." Social, mobile, analytics, and cloud technologies are riding at the forefront of this transformation, and the Company is in position to capitalize on this opportunity due to the foundation it has built in mobile and cloud technology. Cloud computing and cloud services are the future of the industry. Since entering into a strategic partnership with Ali-Cloud two years ago, the Company has seen fruitful results in cloud integration service, cloud middleware platform, government cloud, and cloud applications. During the reporting period, the Company worked closely with Ali-Cloud in Zhejiang Province e-government pilot projects, CITIC 21CN drug regulatory cloud platforms and other projects. This established ChinaSoft's competitive advantage in cloud integration service and government cloud. Mobile Internet is IT consumerization's core strength, and the Company has already had a breakthrough after it acquired MMIM to develop mobile Internet services. In the reporting period, the Company won the bid for ChinaMobile's Fetion mobile client development and support project, as well as mobile unified payment, wireless cities and other strategic projects. This allowed the Company to become a core technology service provider to ChinaMobile. During the Company's fifth strategy day in December of 2013, the Emerging Services Group with SMAC capabilities was established, sending the Company on a new development journey.

Year 2014 will be a historical year for ChinaSoft. Through the foundation laid in years past, the Company will begin its transformation to a platform driven service model. It will surely be worth the wait!

ChinaSoft strongly believes that all over the world the IT services business model is changing due to the evolution of information technologies like cloud computing, social networking, mobile communications and big data analytics. As part of its growth strategy set in 2011, ChinaSoft embraced the Professional, Outsourcing and Emerging (POE) structure. The Company will pursue growth in its traditional IT professional consulting & solutions business (P) and outsourcing business (O) while pushing into innovative and emerging technologies (E) such as cloud computing and mobile communications. The Company believes that this transformation is in alignment with the strategies of its customers such as Alibaba, China Mobile, Huawei and Microsoft.

For more information related to annual result, please click:
http://www.hkexnews.hk/listedco/listconews/advancedsearch/search_active_main.asp  

Or visit the official website of ChinaSoft International
http://www.chinasofti.com/superWebCMS/pages/sites/MainSite/html/en/investor/announcement.shtml

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 including government, manufacturing, finance, telecommunication, high-tech, transportation as well as energy. It provides global services to over 100 multinational companies with 23,607 employees located worldwide based in 25 cities including mainland China, Hong Kong, Princeton, Seattle, London, Tokyo and etc. For more information, please visit www.chinasofti.com.

SOURCE ChinaSoft International Ltd.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Docker offers a new, lightweight approach to application portability. Applications are shipped using a common container format and managed with a high-level API. Their processes run within isolated namespaces that abstract the operating environment independently of the distribution, versions, network setup, and other details of this environment. This "containerization" has often been nicknamed "the new virtualization." But containers are more than lightweight virtual machines. Beyond their small...
Since 2008 and for the first time in history, more than half of humans live in urban areas, urging cities to become “smart.” Today, cities can leverage the wide availability of smartphones combined with new technologies such as Beacons or NFC to connect their urban furniture and environment to create citizen-first services that improve transportation, way-finding and information delivery. In her session at @ThingsExpo, Laetitia Gazel-Anthoine, CEO of Connecthings, will focus on successful use c...
The industrial software market has treated data with the mentality of “collect everything now, worry about how to use it later.” We now find ourselves buried in data, with the pervasive connectivity of the (Industrial) Internet of Things only piling on more numbers. There’s too much data and not enough information. In his session at @ThingsExpo, Bob Gates, Global Marketing Director, GE’s Intelligent Platforms business, to discuss how realizing the power of IoT, software developers are now focu...
“This win means a great deal to us because it is decided by the readers – the people who understand how use of our technology enables new insights that drive the business,” said Matt Davies, senior director, EMEA marketing, Splunk. “Splunk Enterprise enables organizations to improve service levels, reduce operations costs, mitigate security risks, enhance DevOps collaboration, create new product and service offerings and obtain deeper insight into customer behavior. Being named Best Business App...
Things are being built upon cloud foundations to transform organizations. This CEO Power Panel at 15th Cloud Expo, moderated by Roger Strukhoff, Cloud Expo and @ThingsExpo conference chair, addressed the big issues involving these technologies and, more important, the results they will achieve. Rodney Rogers, chairman and CEO of Virtustream; Brendan O'Brien, co-founder of Aria Systems, Bart Copeland, president and CEO of ActiveState Software; Jim Cowie, chief scientist at Dyn; Dave Wagstaff, VP ...
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile ...
At 15th Cloud Expo, Shrikant Pattathil, Executive Vice President at Harbinger Systems, demos a video delivery platform that helps you do interactive videos. He discusses how Harbinger is accomplishing it in the cloud world, the problems they faced and the choices they made to get around these problems.
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, discussed single-value, geo-spatial, and log time series dat...
15th Cloud Expo, which took place Nov. 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA, expanded the conference content of @ThingsExpo, Big Data Expo, and DevOps Summit to include two developer events. IBM held a Bluemix Developer Playground on November 5 and ElasticBox held a Hackathon on November 6. Both events took place on the expo floor. The Bluemix Developer Playground, for developers of all levels, highlighted the ease of use of Bluemix, its services and functionalit...
In her General Session at 15th Cloud Expo, Anne Plese, Senior Consultant, Cloud Product Marketing, at Verizon Enterprise, focused on finding the right mix of renting vs. buying Oracle capacity to scale to meet business demands, and offer validated Oracle database TCO models for Oracle development and testing environments. Anne Plese is a marketing and technology enthusiast/realist with over 19+ years in high tech. At Verizon Enterprise, she focuses on driving growth for the Verizon Cloud platfo...
Cultural, regulatory, environmental, political and economic (CREPE) conditions over the past decade are creating cross-industry solution spaces that require processes and technologies from both the Internet of Things (IoT), and Data Management and Analytics (DMA). These solution spaces are evolving into Sensor Analytics Ecosystems (SAE) that represent significant new opportunities for organizations of all types. Public Utilities throughout the world, providing electricity, natural gas and water,...
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
SYS-CON Media announced that Splunk, a provider of the leading software platform for real-time Operational Intelligence, has launched an ad campaign on Big Data Journal. Splunk software and cloud services enable organizations to search, monitor, analyze and visualize machine-generated big data coming from websites, applications, servers, networks, sensors and mobile devices. The ads focus on delivering ROI - how improved uptime delivered $6M in annual ROI, improving customer operations by minin...
Between the compelling mockups and specs produced by your analysts and designers, and the resulting application built by your developers, there is a gulf where projects fail, costs spiral out of control, and applications fall short of requirements. In his session at DevOps Summit, Charles Kendrick, CTO and Chief Architect at Isomorphic Software, will present a new approach where business and development users collaborate – each using tools appropriate to their goals and expertise – to build mo...