Neusoft Group News

China's Largest Offshore Software & Service Outsourcing Provider Releases Future Growth Strategy Upon Its Consolidated Listing

DALIAN, China, June 18 Xinhua-PRNewswire — With the company name change from Shenyang Neusoft Co., Ltd. to Neusoft Corporation, Neusoft has completed all required legal procedures for Neusoft's overall listing in more than one year, indicating it has been officially listed as a consolidated company. On June 17, the streamlined company held a strategy press conference entitled "On the Brand-new Journey" at the newly inaugurated Neusoft Park (Hekou, Dalian), releasing its newly developed positioning, business strategy, organizational structure, management team, vision statement, and values. This reveals that Neusoft, after being re-structured and re-listed, has been well prepared to set sail to become an outstanding global IT solutions & services provider.

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At the conference, Dr. Liu Jiren, Chairman & CEO of Neusoft Corporation, reviewed the past 17 years that Neusoft has come along during his speech. According to him, the Company's operating revenue has risen from RMB 300,000 in early years up to RMB 3.35 billion in 2007, accumulating RMB 20 billion as of the same year. Its assets have also jumped to RMB 5 billion currently, approximately 3,500 time than the starting RMB 1.4 million. By maintaining thousands of customers, the Company has now grown to a market value of RMB 16 billion. Also, with a total of over 13,000 employees, it has further streamlined its business structure, upgrading the percentage of its international operations to 30%. However, all of these factors are just the beginning, as the Company targets further expansion and globalization.

It is reported that Neusoft will focus on its internal organizational building and core competence improvement based on the newly developed strategy. For the Company's overall growth, Neusoft will strategically continue to seek further development of its employees and leadership, constant improvement of its organizational structure and governance, clear clarification of job details, ceaseless exploration of new technical and business models that may enable sustainable growth, persistent expansion of marketing teams and HR development systems, and more input in emerging markets and businesses for faster growth through M&A. In terms of the strategy for its operations, Neusoft plans more investment into its software infrastructures to enable sustainable market expansion in telecom, social security, and government sectors as well as fast growth in the arenas of manufacturing, utilities, and FSI. The focus will be given to increase the market shares in those industries with long-term availability. Besides, to maintain an average growth of at least 30% for its international operations, the Company will get more involved in European and American markets whilst focusing on the Japanese market. In the field of product engineering solutions, Neusoft intends to reinforce its product development and achieve open innovation through partnerships with more customers. In medical, it aims to become a leading player in the industry by strengthening its partnership with Philips for more new product releases. In services and IT education, in addition to furthering its BPO operations by expanding its multi-linguistic capability to Japanese, Korean, English, and Chinese, the Company is determined to facilitate cooperation with Neusoft Institutes of Information to offer sufficient talent supply for future growth. In consulting service, it will focus on SAP ERP, planning to cultivate at least 1,000 ERP consultants in the coming 3 years.

Dr. Liu stated that Neusoft has been dedicated to becoming an outstanding global IT solutions & services provider. He noted that it is necessary to redefine and further identify the Company's mission and business strategy for obtaining a sustainable expansion towards becoming a globalized player. In the coming years, Neusoft has set its sights on becoming a streamlined, efficient company, a company that will not only maintain leading market shares and high- profile customers in both the local and international marketplaces, but also create value for its stakeholders and society, a company that will be well recognized and respected by all of its employees, shareholders, partners, and customers.

For more information, please contact: Evelyn Tang, Brand Management & Corporate Communication Center Neusoft Corporation Tel: +86-24-8366-5663 Fax: +86-24-8366-3451 Email: tangyi@neusoft.com

SOURCE Neusoft Corporation

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