New kid on the block...

Aside from RNS

Anyone got info they can share?

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