27 Sep 2010 07:00
27 September 2010 GEONG International Limited ("GEONG" or "the Company") AGM Statement
At the AGM of GEONG International Limited (AIM: GNG), the AIM listed, China based provider of enterprise content management (ECM) software and solutions, being held this morning, Henry Tse, Chairman will make the following statement:
“The Group, in the first 5 months of the current financial year, has continued to perform in line with management expectations and we have extended, or newly won, a number of contracts, worth a total of RMB 10m currently being delivered.
Our contract wins cover a variety of the principal sectors in which GEONG operates, and we have particularly deepened our alliance with Oracle in the insurance and manufacturing sectors, winning contracts through this alliance with Taiping Insurance, Happy Insurance and Haier.
In conjunction with our partner IBM, we commenced our overseas expansion into Vietnam. We are pleased to have now secured our first overseas contract with MSB bank in Vietnam, for whom we will be providing an online banking solution.
On August 16, 2010, we introduced our new Smarter Online Business Solutions for Banking & Financial Markets, Insurance, Manufacturing, Auto and Telecom sectors based on the new
Smarter PortalAge and SmartBox Platform. We launched the new PortalAge CSP (Content Services Platform) Version 6.0 on Sept 3, 2010 and we introduced the new SaaS 2.0 solutions with Oracle in August 2010. This is in line with our strategy to continue growing our higher margin SaaS business and ensure that GEONG is best equipped to remain at the leading edge of technology and market developments in our industry, enhancing our opportunities for superior growth, profitability and return on investment.
Since the first half of the financial year is traditionally the quieter period, the Group has kept a strict control of its costs and ensured a continuing focus on its working capital.
The Group will provide an interim trading update in the first week of November and expects to announce interim results for the six months ending 30 September 2010 in the first week of December 2010.â€
For further information, please contact:
GEONG International Limited www.geong.com Tel: +86 10 5222 0999Henry Tse, ChairmanWeidong Wang, CEOAmit Thakar, CFOEvolution Securities Limited Tel: +44 (0)20 7071 4300(Nominated Adviser and Joint Broker)Barry SaintEsther Lee
About GEONG International Limited
Operational since 2000, GEONG specialises in collaboration and content management software and services. Its products are specifically tailored for the Chinese market, where the Company is recognised by Government agencies and numerous blue chip clients as a leader in its field. GEONG was named The Most Successful Enterprise in ECM Software in China 2007 to 2008 by China’s Centre for Information Industry Development and CCID Consulting; and one of the fastest growing companies in Asia at the Deloitte Technology Fast 50 China and Deloitte Technology Fast 500 Asia Pacific awards. The Company has recently expanded into North America setting up operations in Canada.
Registered in Jersey, the Company's operations are headquartered in Beijing. The Company's shares were admitted to AIM in June 2006 and trade under the ticker GNG.L
For more information, please visit www.geong.com
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