January 12, 2012—Huawei and ChinaSoft International Limited (hereinafter referred to as “ChinaSoft International”), signed a contract to establish a joint venture company specializing in the software outsourcing business. The contract stipulates that ChinaSoft International will hold 60% of the joint venture and that Huawei will hold 40%.
ChinaSoft International’s success as an IT outsourcing provider can be attributed to its experience, its efficient human resource supply system, and its outstanding management, development, and services teams. Huawei is an important client of ChinaSoft International’s outsourcing business, and it has experienced firsthand the high quality and cost-effectiveness of ChinaSoft International’s delivery and outsourcing services. Likewise, ChinaSoft International is wholly familiar with Huawei’s high quality management practices. By combining the qualities of both companies into this new joint venture, the vast experience of both companies can contribute to the creation of this new, top-ranking software outsourcing company.
Dr. Chen Yuhong, Chairman and CEO of ChinaSoft International, said that the Group is now in its crucial development stage. “We are expecting to reach our strategic goal of 10 billion RMB in 2015 through restructuring. The joint venture with Huawei is another strategic partnership with a world leading company following our partnerships with Hony Capital (Legend Group) and Microsoft. These partnerships will enable us to boost our competitiveness.” Dr. Chen Yuhong will be the Chairman of the Board of the new company.
“For Huawei, it is not simply a financial investment. We will contribute management and key technology staff to the joint venture so that we can provide it with optimal support by sharing our best practices regarding the management of quality, R&D as well as human resources,” said Mr. Ding Yun, a Senior Vice President of Huawei, who will become a board member of the joint venture company.
Given the rapid development of the IT industry as well as the overall economy in China, the emergence of a China-based IT service provider that is globally competitive has been seen by many within the industry as inevitable. This strategic partnership between ChinaSoft International and Huawei lays the foundation for this to occur.
About ChinaSoft International Limited, “CSI” (354.HK)
Founded in 2000, ChinaSoft International Limited is a listed company in Hong Kong Exchange with its code of 354.HK. It is a large Chinese comprehensive software and information services provider, ranging from end to end services of consulting, solution, outsourcing and talent training. It serves clients including government, manufacturing, finance, telecommunication, high-tech, transportation as well as energy. It provides global services to over 100 multinational companies with 15,000 employees located worldwide based in 25 cities including mainland China, Hong Kong, Princeton, Seattle, London, Tokyo and etc. For more information, please visit www.chinasofti.com