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!