New kid on the block...

Aside from RNS

Anyone got info they can share?

Look verry interesting!!

Could grow rapidly


Sinosoft Technology plc

Leading Chinese e-Government software provider debuts on AIM


Sinosoft Technology plc ('Sinosoft' or the 'Company'), a leading developer and
provider of software and IT solutions to Chinese regional and national
government agencies and export enterprises in China, today announces its stock
market debut on AIM.

Founded in 1998 by CEO Ms Xin Yingmei, Sinosoft's principal operating businesses
capitalise on opportunities presented by the Chinese Government's continuing
drive for digitisation, particularly within export tax management and other
areas of interaction between citizens and government.

Sinosoft has established itself as the market leader in the provision of export
tax rebate software within Jiangsu and Hainan provinces; within those provinces
alone over 24,000 export companies use the Company's software. By the end of
2010, as part of the Chinese Government's Golden Tax Project, all 31 provinces
in China are scheduled to have digitised their export tax rebate systems. In
December 2005, the Company won a contract with the State Administration of
Taxation to supply them with export tax software and execute the national
roll-out to provincial tax bureaus across China. This in turn will create
opportunities for the Company to sell its products to exporting companies across
China.

The Chinese Government's drive to create centrally accessible administrative
systems that collect and transport data to and from users (whether the public or
national and regional government departments) extends beyond export tax. The
Company has designed a portfolio of e-Government software products to radically
simplify interaction with local government across the country.

The Company has raised its target of $17 million before expenses and
dealings in its ordinary shares begin today under the ticker symbol SFT.

Following the admission of Sinosoft's shares, the Company's market
capitalisation will be approximately $55 million.

The net proceeds of the placing will be used to expand the Company's
research and development capabilities and its sales and marketing network,
while the remaining funds will be used for working capital and to repay
debt.

Westhouse Securities is the Company's Nominated Advisor and Broker.


Miss Xin Yingmei, Chief Executive, commented:

'We are delighted by the investor support that has underpinned our flotation on
AIM. Sinosoft is uniquely placed to benefit from the exceptionally strong growth
in exports from China as well as the broader digitisation of Chinese local and
national government departments. We look forward to investing the capital we
have raised in growing our business to deliver long-term value creation to our
shareholders.'


For further information, please contact:

M:Communications
Tom Hampson / Charlotte Kirkham 020 7153 1530

Westhouse Securities
Tim Metcalfe / Richard Baty 020 7601 6100



NOTES TO EDITORS

Company information

Sinosoft Technology plc is the UK holding company of Infotech Holdings Pte.
Limited ('Infotech'), a Singaporean holding company of two trading subsidiaries,
Nanjing Skytech Co., Limited ('Skytech') and Nanjing Skytech Software Co.,
Limited ('Nanjing Software'). The trading companies are registered and operate
in the Jiangsu province of China and provide the following products and services
to certain government departments and exporting enterprises in the Jiangsu and
Hainan provinces of China:

export tax software which enables export tax documentation to be completed
and filed electronically, comprising a back-end product suite used by the
tax bureaus and a front end product suite utilised by exporting enterprises;

e-Government software which allows government agencies to automate
processes at city and provincial level creating a virtual, real-time
environment for citizens to access certain services provided by the
government;

information integration software which provides existing customers with
the opportunity to manage large amounts of information and facilitates the
distribution, consolidation and synchronisation of this information across
complex, multi-platform, multi-vendor IT environments; and

customised services to existing customers including software upgrades,
systems integration, training, customer support and problem resolution and
bug fixing.

On 8 December 2005 Sinosoft in conjunction with two partners, China National
Computer Software and Technology Service Corporation and Taihe Digital won a
tender by the Chinese State Administration of Taxation ('SAT') to supply them
with export tax rebate software. As part of the Chinese Central Government's
Golden Tax Project, which has the objective of automating export tax filings in
all Provinces by 2010, SAT will be implementing the roll-out of the back office
system across tax bureaus in China.

Following the installation and implementation of the back end system by the
individual provinces, Sinosoft plans to offer its products to exporting
enterprises, following the model utilised in Jiangsu Province.

Sinosoft's business has benefited from Chinese technological advancement and the
upsurge in Chinese export activity. Chinese Central Government policy has been
to actively encourage the improvement of data collection and assessment and in
particular the use of information technology. These policies have primarily
benefited the Company's export tax software and e-government applications.


Background and History

Skytech was founded in December 1998 in Nanjing City, Jiangsu Province, China,
by Sinosoft's Chief Executive Officer, Xin Yingmei, in conjunction with six
founder shareholders.

Skytech's activities have to date been focused in Jiangsu province, which was
the first Chinese province to fully embark on the digitisation of export tax
management in China. Jiangsu province has consistently ranked among the top
three provinces in China in terms of its import and export value and its level
of foreign investment.

In 2005 Infotech acquired the shares in Skytech. In January 2006, Sinosoft
acquired all the shares in Infotech by way of a share for share exchange.


Key Strengths


Large and increasing customer base

The Company currently has over 28,000 users.


Well positioned to sell software in other provinces

Jiangsu and Hainan are the early adopters of export tax software. The Directors
anticipate that tax departments of other Chinese provinces will by 2010 become
fully digitised by virtue of the Golden Tax Project and that Skytech is well
positioned to benefit from this. The awarding of the Golden Tax Tender by SAT
will, in the opinion of the Directors, enable Skytech to target exporting
enterprises across China.


Strong cross selling opportunity

Skytech plans to leverage its large and increasing user base to roll out future
software products and services and provide a more complete service for its
customers.


High barriers to entry - export tax software

Jiangsu Province became the first province in China to impose compulsory
electronic tax filing on exporting enterprises. The Directors believe that this
shift towards electronic filing for export tax and the selection of Skytech's
export tax management software by the Jiangsu Tax Bureau has created a high
entry barrier for competitors to compete in relation to export tax software in
Jiangsu Province.


Product line and integrated product solutions

Over several years Skytech has developed a range of software products providing
integrated IT solutions for its customers. Skytech responds quickly to changes
in Chinese tax regulations and seeks to develop and launch software upgrades
rapidly to meet its customers' needs.


Strong management and technical team

Sinosoft's Chief Executive Officer, Xin Yingmei, is an experienced manager and
entrepreneur. The Skytech technical team, led by Chief Technological Officer,
Wang Xiaogang, has considerable experience and expertise in software technology.
Skytech is represented on the China National e-Government Standards Committee
and Dr Zhu Jianjang, the head of the Tax Software division at Skytech, is a
member of the project team for the Golden Tax Project which sets nationwide
standards for export tax software.


Software Products

The Company's range of software products focuses on three areas:

(i) export tax
(ii) e-Government; and
(iii) information and systems integration.


(i) Export Tax

Approximately 35 per cent. of Skytech's business is derived from the sale of
packaged export tax-related software products to exporting enterprises in
Jiangsu Province.

Exporting enterprises traditionally made export tax filings using a paper-based
method where all data and information was submitted in hand written form.
Skytech's export tax-related software enables them to submit export tax filings
to the relevant tax authorities and agencies electronically via diskettes or
over the internet.


(ii) e-Government services

These products are in use throughout government departments and agencies at
provincial, city and district level in Jiangsu Province.

These are designed to simplify delivery of services to citizens and streamline
government operations.


(iii) Information Integration

This standardised software can be modified or adapted to a customer's technology
infrastructure. Information integration is the efficient and useful management
of large amounts of information and data. By employing information integration
technology, large collections of information can be distributed, consolidated,
and synchronised across complex, multi-platform, multi-vendor IT environments.


Software-related services

Skytech provides support to its client and its licensed agents (for export tax
software) as follows:

Software upgrades
Problem Resolution and Bug Fixing
Customer support
Training
System integration


Objectives and strategy


Expanding the sales and marketing network

Following the Golden Tax Tender, the Directors intend to increase Skytech's
market coverage in China by expanding its sales and marketing network. The
Directors plan to set up additional sales and marketing offices or branches in
other areas such as Beijing and Shanghai in order to facilitate the promotion
and delivery of software products and services, and to provide more efficient
post-sales support and services to its customers in those areas.


Expand software research and development capabilities

The software design and development market in China is characterised by
continual advancement in technology. Skytech's ability not only to maintain its
position, but also grow, is largely dependent on its ability to design and
develop software products that contain, or are compatible with, the latest
software technology. In order to maintain its position and grow Skytech plans to
increase the size of its R&D team by recruiting additional IT professionals with
relevant skills and expertise to develop the next generation of software
products and further plans to establish a R&D centre and a software testing
centre in Nanjing Hi-Tech Zone in 2006.


Expand the range of software products and services

Skytech aims to expand its range of software products for its core businesses by
leveraging its R&D capabilities and resources, as well as by using its expertise
in its core business areas. The Directors intend to expand the software
development business into new areas which they believe offers strong market
potential. The Group will consider acquiring or investing in boutique IT firms
operating in specialised software sectors so as to expedite their breakthrough
into such software niches.


Leverage increasing user base to cross-sell full range of software products and
services

Skytech enjoys market leadership in the sale and provision of its export tax
software and related services in Jiangsu Province, so that the majority of
exporting enterprises in Jiangsu Province choose to file export tax
documentation electronically, using Skytech's software. The Directors believe
that there is still scope for the Group to grow in Jiangsu Province. The
strategy is to leverage the increasing user base to sell other software products
and services to them.


Exploit nationwide e-Government initiatives

With encouragement from the Chinese central government, provincial and city
level governments are increasingly implementing e-Government products and
services. As Skytech has already successfully penetrated some cities in Jiangsu
Province, including Nanjing, Lianyugang, Changzhou and Taizhou, with its suite
of e-Government products, Skytech plans to extend its e-Government platform and
office automation software to other cities and districts in Jiangsu Province.


Board of Directors


Mao Ning, Non-Executive Chairman, aged 50

Mr Mao is currently a professor of finance in Nanjing University Business School
and is also the director and associate dean of Nanjing University Business
School, positions which he has held concurrently with his professorship since
2003. Mr Mao is also an independent director of Tonmac International Co., Ltd.,
a company listed on the Shanghai Stock Exchange, and the executive president of
the Jiangsu Province Association of Quantitative Economics and Management
Science. Mr Mao holds a PhD in System Science from the National University of
Defence Technology.


Xin Yingmei, Chief Executive Officer, aged 38

Ms Xin is a co-founder of Nanjing Skytech and began her career on the IT
technical staff of the Beijing Olympic Electronics Engineering Co., Ltd, a
company engaged in information technology services, where she worked from 1987
to 1992. From 1992 to 1995, she held the position of general manager in Nanjing
Olympic Computer Co., Ltd., a distributor of software and provider of
information integration services, from 1995 to 1998 she was the general manager
and vice-chairwoman of Nanjing Honest Electronics Co., Ltd, a company
distributing computer hardware, and was in charge of the general management of
the company. In 1998, Ms Xin co-founded Nanjing Skytech and assumed the position
of chairwoman of Nanjing Skytech. Ms Xin is a senior member of the Nanjing
Association of Software Industry.


Dai Jianbiao, Chief Operating Officer, aged 38

Dr. Dai joined Skytech in August 2005 having worked from 2002 to 2004 as General
Manager of Shanghai Zenitek Information Industry Co., Ltd. From 2001 to 2002, he
worked as general manager at Shanghai Dragon Zhangjiang IT Inc. In 2000, Dr. Dai
was awarded a PhD degree in Electronic Engineering and Applied Science from the
University of New Orleans, USA which followed on from his MS degree in
Statistics from the same university which he received in 1999. He was appointed
adjunct assistant professor in the University of New Orleans in 2002, and
adjunct professor of the Dillard University, USA, in 2003.


Teo Kean Eek, Non-Executive Director, aged 38

Mr Teo has over 11 years of strategic planning and venture capital experience in
the USA, China and Singapore. Prior to founding Agile Partners, a financial
advisory company in China, he was the Principal of Shanghai NewMargin Ventures
in-charge of investment, divestment and portfolio monitoring. Mr Teo became a
Chartered Financial Analyst (CFA) in 2000. Mr Teo holds a Master's Degree in
Engineering Economics System from Stanford University and a Bachelor's Degree in
Electrical Engineering from Arizona State University. He is on the board of
directors and a member of the audit committee of Pharmesis International Ltd.


Mark Christopher Greaves, Non-Executive Director, aged 49

Mr Greaves graduated with an MA in Economics from Cambridge University in 1977
and joined N.M. Rothschild & Sons Limited in London, spending the next 25 years
with Rothschild in London, Hong Kong and Singapore. He was appointed Managing
Director in 1994 and assumed overall management responsibility for all the
group's businesses in Asia. In 2002, he left Rothschild to set up Anglo FarEast
Group, an advisory and consulting business specialising in transactions
involving Asia and the UK. In December 2004, Mark became the Chief Executive of
Hanson Capital, with the primary objective of further developing that firm's
business in Asia. Mark is a member of the Institute of Directors in London, is
registered with the FSA and was, for many years, a Council Member of the
Singapore Investment Banking Association. He is an independent non-executive
director of Gome Electrical Appliances Holding Limited, China's largest
electrical and electronics retail group which is listed in Hong Kong with a
market capitalisation at 31 December 2005 of approximately US$1.24 billion.


This information is provided by RNS
The company news service from the London Stock Exchange

results tomorrow, if they take off may be worth adding, have taken a punt in anticipation, fingers crossed

The Independent today mentioned that this has a bright future as the co rolls its products out nationwide in China. DYOR.

Thanks ST, well spotted.

Great results!

this is me, been away last couple of weeks on hol, crossed my fingers and hoped the market didn't dive, low and behold pretty steady, not much change really.

sft looking godd and will move to 50p imo!!

cheers ellio-will post on this one now.added to my holding-happy to hold this one.

added a few more today as this one has not registered with investors yet-I'm sure it's got a long way up to go!!

hope so

Tipped in Shares Mag as a possible multi-bagger

Good-perhaps the momentum will build now. looking at their contracts I'd say a definite multi bagger!

got into this today also ...on the Shares mag write up.
Sounds like a great company and the potential is huge ..

Welcome aboard erb, looking good for a nice run to 50p imo, then a few announcements and lift off. good luck

Bought into this last week. Expecting a bit o a rise today.

Sinosoft Technology plc
10 May 2006

10 May 2006

SINOSOFT TECHNOLOGY PLC
CONTRACT GAIN


Sinosoft Technology ('Sinosoft' or the 'Company'), the China-based developer and
provider of software and IT solutions to Chinese regional and national
government agencies and export enterprises, announces today that it has entered
into a distribution agreement with Beijing Capitek Co., Ltd ('Capitek').

Under the terms of the agreement, Capitek are licensed to sell up to 20,000
copies of Sinosoft's Information Integration Software. The agreement, which
commenced on 1 May 2006, is expected to generate up to US$450,000 in revenue for
Sinosoft. The software is an existing product from Sinosoft's portfolio of
software solutions.

Capitek specialises in the provision of network security software and is a
wholly owned subsidiary of Capitel Group, one of China's leading software
technology businesses. Under the terms of the agreement, Capitek will utilise
its existing, extensive, network of sales channels to distribute Sinosoft's
Information Integration Software across China.

Miss Xin Yingmei, Chief Executive, commented: 'We are delighted to have signed
this agreement with Capitek, a major brand in China. The distribution agreement
will provide Sinosoft with additional revenue and expands our geographical reach
in China, increasing the number of provinces where our software products are in
use. Our ability to widen our presence in other provinces, without capital
intensive investment in infrastructure, is very encouraging and the
complimentary nature of our product suite further enhances the benefit of such
an agreement.'


For further information, please contact:

Tavistock Communications:
Matt Ridsdale / Paul Dulieu 020 7920 3150

Westhouse Securities
Tim Metcalfe / Richard Baty 020 7601 6100




This information is provided by RNS
The company news service from the London Stock Exchange

Surprised there is no movement, this is off-the-shelf s/w, presumably $450k of high margin, it's already developed so bottom-line earning enhancing.

SFT looks very promising imo, expect a 1-2p rise later today!

typical slow reaction-this one is not really on the radar yet and gives me time to build a good holding.

Typically certain shares are being targeted to shake you out, then up and down so you go dizzy, this is a long-term safe hold imo, but the mm's are making it look far from that!! stay with it past sept imo, fundametally fine at these levels, growing and not expensive in the strongest growth economy in the world.

Any discernible reason for the freefall since May? Can't find any news on them.

I've jumped in today. I'm hoping that this is the bottom and that the changes made to the system during the next 4 months to appease some of the local tax authorities is going to mean the green light for the firm and its product. And if that happens revenues will obviously soar. Well, here's hoping anyway!

Hi Folks,

I've just been on the ADVFN site and thought this might be of interest. It has been taken from a site called lemminginvestor and has been posted courtesy of a forum member :


The company's performance is not being properly considered.

The Dell contract alone is worth 20% of annual sales, and that signed in May with Capitek for $450k adds another 7%. Gross margin was up from 71% to a colossal 82% in H1. Any increase in sales has a very large marginal effect on profits.

The condemnation of the company for falling sales is greatly out of place . Sales were only down by 3%, Y on Y, brought about almost certainly by a standstill in export tax sales expansion whilst the mods requested by Central Government are being implemented. It is hoped that after delays, this will kick off in May. Roll out of this monopolisic contract is intended to cover the whole of China's 36 provinces - a market x17 times the size of SFT's current local effort.

Operating profit was burdened with the cost of launching on AIM, and would otherwise have risen, but is still exceptional at 49%. Much would have been taken out to cover a sales expansion drive including a new sales office opened in Shanghai.

The sales drive has more than doubled the size of area served. Anhui province (60m population) now the subject of a completely new sales drive, almost doubles the potential market currently concentrated on neighbouring Jiangsu (72m pop).
The expansion has also taken on the island province of Hainan (7m) and Yangzhou City (7.1m pop)

Some of this will yield sales in H2, which will also benefit from seasonal increase, though this will have to compensate for any temporary slow down in orders for the export tax software - the core business. Nevertheless with all the business SFT is developing with large western companies manufacturing in China for export, the future is undimmed.,

lemminginvestr.com

Thanks Iankn73 - I see absolutely huge potential in SFT which is why I'm in!

A nice climb today. Far more volume than usual.

Well I bought at 16.5p and it's been below that price ever since so this is the first time I have been in the blue! Still see absolutely huge potential!

got in at a touch below 17p today, this co is looking v good imo

Another queen? Welcome to SFT and congratulations for getting on board!

Another nice tick up today against the overall market grain as well!!

Absolutely Iankn73 which makes the performance all the more impressive. Could this be the start of a climb back up to the heights of this time last year? If it can weather days like today then it's certainly a possibility!

6th March - Sinosoft Technology said its pretax profit for the year to Dec 31 grew 10 pct on-year to 3.815 mln usd as revenues rose 37 pct to 8.4 mln usd.

The provider of software and IT services to Chinese government agencies and export enterprises said it expects revenues to grow more quickly in the second half of 2007 as it proceeds to the pan-China rollout stage of the State Administration of Taxation contract.

The AIM-listed company added delays to the project's rollout impacted profit and revenue in 2006.

Bring on the roll-out. I'll need to stop this I'm wishing my life away!!

You'll have no time left to spend all that lovely cash!!

China-based Sinosoft Technology PLC said it is confident of delivering continued strong growth, with the roll-out of the delayed state administration of taxation (SAT) project commencing shortly.

The software provider to Chinese government agencies and export enterprises said in an AGM statement that the SAT project is now progressing well and the product simulation phase is due to be completed very soon. It added that Anhui Province has been selected as the first province to follow Jiangsu Province for the planned China-wide roll-out with installation of back-end software at tax bureaus and sales to exporting enterprises expected to commence in the third quarter.

'Your board has been pleased with the progress in 2007 so far and, with the SAT roll-out commencing shortly, remains confident that Sinosoft will continue to deliver strong growth,' the company said.

Hi queen1,

Some nice news. The second-half of the year should be very interesting!

Good luck,

Ian

I think so - and to you!!

Maybe some imminent news due regarding the roll-out as the last two days have been blue.

This is old news dated from 13.03.06 I just thought I would post it to remind some of us why we invested in this co. in the first place:

From Monisha Varadan of Allnewissues.com

These recommendations do not constitute advice, please read the risk warnings

One of the largest players in the Chinese e-government market has listed on AIM. Sinosoft Technology presents an attractive buying case, offering four reasons why investors should consider these shares: it is one of the only providers of export tax software to exporting companies; it provides its services to more than 28,000 customers; it has signed an agreement with the Central Chinese tax authorities to roll out its tax software across all regions over a four-year period; and it is profitable and trades on a current year PE of 10. The group placed shares worth $17 million at 19p prior to its admission and the shares opened at a 12% premium on the first day of trade last week. At the placing price, Sinosoft Technology is worth 33 million, or $55 million.

Operations

Sinosoft is the UK holding company of Skytech. Skytech was founded in 1998 in the Jiangsu province by a woman called Xin Yingmei and six other shareholders. Investors should probably know that Xin Yingmei sold shares worth $2 million in the placing, only to distribute the proceeds to her 30 employees at Skytech. Skytech was formed as a software development company focussing on taxation software. The company entered the market in response to the Government Online Project (GOP) launched in 1999.

It battled on, hoping to win customers, and it secured its first contract with an offer to digitise the entire tax system in the Jiangsu province. Sinosoft had to fight off 18 other vendors over three rounds of tendering. The contract transformed the company as it propelled it onto a high-growth path. In 2002, the group took on its next province and signed a contract with Nanjing City Corporation. By 2004, it had signed its third province, providing tax software systems to the Hainan region. And in December 2005, the group signed a contract with the State Administration of Taxation which should now see Sinosoft roll out its software across the nation over the next five years. Analysts expect the number of regions to increase from two to nine, pushing up customer numbers from 28,000 to 60,000 and doubling revenues to $15.2 million by the end of 2007.

It is estimated that IT spend, especially on e-government software, will increase from $5.8 billion to $9.76 billion by 2008. Following the launch of GOP, the central authorities set up the 'Golden Project' which was, essentially, to digitise the nation's information systems. As a result of the Golden Project, Sinosoft should pick up more contract wins from local authorities looking to convert paper-based tax systems into online information logs, and exporting companies will be buying more Sinosoft software to help them link up with the local authority systems. The business has a third arm that completes its offering - IT services, management and integration service, which acts as an add-on service for existing customers.

Business Development

Sinosoft derives a third of its revenues from selling export tax software and the remaining two thirds is generated from sales of e-government software and add-on services. The last set of results for the year to December 2005 revealed a pre-tax profit of $3.38 million on turnover of $6.287 million. The group had cash of $3.3 million at the year end. From the $17 million raised, Sinosoft intends to use $6 million on sales and marketing, $3.8 million on R&D, and will repay a $2.4 million loan. In the current year, analysts are looking for sales of $11.2 million, partly resulting from the government contract win. Profits in the current year are forecasted to come in at $5.46 million. With more territories under control and more local authorities buying the Sinosoft software, profits are expected to increase to $7.1 million on sales of $15.5 million, putting the stock on a single digit PE.

Management

Xin Yingmei is the Chief Executive Officer and one of the founders of Sinosoft. She is responsible for setting the overall business strategies of the group. Prior to this role, she worked with the Nanjing Olympic Computer Company, and was vice-Chairwoman of Nanjing Honest Electronics Company. Mao Ning serves as Chairman and is currently director and associate dean at the Nanjing University Business School. Dai Jianbiao, Chief Operating Officer, is responsible for operations, engineering and project implementation. He has served as the general manager at Shanghai Dragon IT.

Investment Conclusion

We are conscious that Allnewissues has recommended five Chinese floats over the last 12 months and, surprisingly, all of them - China Biotech, China Education, Asian Citrus, China Shoto, and China Eastsea Business - have performed well-above our expectations. There is no denying that Sinosoft shows similar potential. It is an undervalued, profitable business that has signed a significant contract win that is sure to boost revenues and profits. The only risk is if the government decides to pull the plug, which, given the levels of bureaucracy, is highly unlikely. The company has secured its position by being first to market and, therefore, creating barriers to entry. The business is trading on an undemanding price/earnings ratio and, even at the current share price, we recommend the shares as a speculative buy.


Good luck all,

Ian

Good news today for all those that hold these shares. Don't be surprised if they drift down a little over the next few weeks. However, it appears (fingers crossed) these shares might finally have started to gain some momentum as the rollout of their software edges closer. Good luck to all those that hold. And to all those that don't - why not dip your toes?

Good news indeed.

Yes, good news. As per your prediction pma68 the SP is slightly off today but I'd be surprised to see 20p broken on the downside now and only see upside from here (assuming the roll-out continues on the revised timetable).

It looks like more investors are starting to waken up to this one.

Good luck all and have a good weekend.

You too Iankn73.

6.5% tick up this afternoon and we should see a gradual climb (market permitting) as interims due 20th September and expecting positive news. Looking forward to the date ;))

Well let's hope the overall market trend is better around the interims because if not any good news could still get lost in a sea of red.

A good set of results from a great company with excellent prospects:

Sinosoft Technology posted an increased first-half pretax profit in line with its expectations and said it is actively looking for acquisition targets that will complement its business and facilitate expansion in China.

The China-based software services company reported pretax profit of 1.50 mln usd compared with 1.15 mln usd a year ago. Revenue rose 33.1 pct to 3.63 mln usd against 2.72 mln usd a year earlier.

The AIM-listed company said its revenues are weighted to the latter half of the year and that it sees full-year results in line with its expectations.

Sinosoft said it sees the higher than expected revenues from systems integration more than compensating for any delayed sales resulting from the interface issues in Anhui. It developed six new products in the first half, which are already revenue generating and it expects them to make significant contribution to the company's revenues in the coming years.

Good results right enough queen1,

Its also reassuring to know that their resources arent solely focused on the roll-out. e.g. they have also developed six new products, which are already generating revenue and are looking for acquisition targets.

I'm particularly interested in the roll-out next month in Zhejiang province. I just hope SFT release regular updates when each province has had a successful roll-out.

I have taken this info from another poster at ADFVN so dont know how accurate the figures are but they certainly look impressive:

Exports from Chinese provinces 2005

Jiangsu $123 billion
Zhejiang $76.8 billion
Anhui $5.19 billion

So Anhui not likely to be very important - Zhejiang much more so.

Good luck,

Ian

What's happening here today? Down 17%, apparently out of the blue. Anyone shed any light?

No, afraid not. I have been holding these for about 12 months in expectation of a decent rise in the share price next year when they accelerate the roll-out of their software. Starting to wonder if I might be disappointed (again)!

I have had a look at some of the other forums to see if there has been any reason for the sharp drop in the price and can find nothing!

This co. is supposedly in a far better position than at any point in its short history and yet the share price is sitting close to the worst it has ever been.

I think an update re..Zhejiang province is required.

I still think in the long run today's SP will seem like a very small and distant memory but today was a nasty wobble.

queen1, I think I now know where the fall today stemmed from. If you look at PapalPowers last few posts in the Renesola thread you will see that the Chinese have agreed to 'ends illegal tax breaks' which the US had reported to the WTO in Feb!!

So were these falls by association then?

Personally, I'm not so sure, Queen1. The share price has dropped even further since. There has not been any announcements as far as I am aware. I realise that there is negative sentiment on this site from some investors regarding Chinese shares (due to their sometims dubious accountancy practices). However, despite further falls today I am inclined to hang on to these shares until they announce their full year figures (should be around the end of March, I think). I will then decide whether to stick with them or sell them. What about you?

I'm hanging on pma68. If, and I know that's a big word, their full potential in such a huge market is realised, today's price will be microscopic by comparison to what it could achieve. A little blue sky in that respect but they do have a product and they do have a market.....

Lower profits and contract delays pushing the SP down....but first dividened to be announced in April which should help sentiment.

Large, positive sp movements so far this week. There doesn't appear to be any news to support this however....

Sharp movement upwards today after months in the doldrums. Anyone no why this may be?

Sinosoft has won four tenders for its e-government services, resulting in contracts worth approximately RMB 5 million. The contracts, which were awarded by government agencies in Jiangsu province, will see Sinosoft work on installing a system at the district levels of Taizhou and Nantong cities. This system will help standardise procedures in a multitude of local government departments and in areas such as housing and business licence applications and building permits. It will also enable the respective enforcement bureaus in each city to uniformly process any complaints against government agencies. Work will commence immediately and is expected to be completed by the end of this year.

This contract is a further important step forward for Sinosoft's e-government division as the Company moves deeper into local government at the district level. Once successfully implemented in these areas, there is potential to roll out the system to the districts in the remaining 11 cities of Jiangsu and other provinces in China.

Ms Xin, Chief Executive of Sinosoft, commented: 'Following the announcement of a stimulus package in early 2009, it is very pleasing to see that investment in e-government software is beginning to pick up. This contract win further validates the effectiveness of our technology and the Board look forward to capitalising on these opportunities over the coming months.'

Sinosoft has won a contract for its information integration division worth approximately USD 700,000. Under the contract, which was awarded by a government agency in Jiangsu province, Sinosoft will work on providing a new archiving, cataloguing and book borrowing system for China's third largest library, Nanjing Library. The project is due for completion by 10 December 2009.

Sinosoft will integrate Radio Frequency Identification (RFID) tracking technology developed by 3M (www.3M.com) with a new software system developed by Sinosoft, to provide Nanjing Library with the ability to keep track of its catalogue of over 7 million books. This pioneering system will also enable the book borrowing process to be more efficient both for the borrower and the library.

The contract is an important step forward for Sinosoft's information integration division. With this success, the company is in a better position to market itself with a competitive and technologically advanced total solution system to customers in areas such as freight forwarding, warehousing or other related business that need to have up to date information and instant access to the location of their inventory.

Ms Xin, Chief Executive of Sinosoft, commented: "This is a breakthrough deal for Sinosoft and a positive indication of increasing confidence in the Chinese IT sector. The Board will now look to maximise the opportunity that has arisen to combine the new technology developed for this project with our existing software and IT solutions."

For anyone interested in how they are doing after delisting from the AIM market on 2011.

http://www.chinatechnews.com/2011/02/16/13055-alibaba-acquires-25-stake-in-chinas-sinosoft

http://www.china.org.cn/business/2011-02/15/content_21924516.htm