Sinosoft Technology Announces Annual Results 2015

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Sunday, 20 March 2016, 19:24 HKT/SGT

Revenue surged 25.5% to RMB 436.5 million;
Net profit after tax increased by 18.6% to RMB 159.5 million

HONG KONG, Mar 20, 2016 - (ACN Newswire) - Sinosoft Technology Group Limited ("Sinosoft Technology" or the "Group", HKEx: 1297 ) is pleased to announce the annual results of the Group for the year ended 31 December 2015.

- Revenue reached RMB 436.5 million, representing an increase of 25.5% year-on-year
- Net profit after tax was RMB 159.5 million, representing an increase of 18.6% year-on-year
- Net profit margin recorded 36.5%
- Basic earnings per share was RMB 15.45 cents (2014: RMB 13.03 cents)
- The Board has recommended the payment of a final dividend of RMB 2.33 cents per share (2014: RMB 1.95 cents)

Benefited from the Chinese government's continuous promotion in "Internet+" and strong encouragement in applying big data analysis in different areas, which has brought great prospects to the information technology industry, Sinosoft Technology managed to maintain solid financial performance while intensifying its R&D during the year end 31 December 2015. Revenue reached RMB 436.5 million, representing an increase of 25.5% when compared to the same period in 2014, with all core business segments of the Group achieved continuous revenue growth. Net profit after tax increased by 18.6% year-on-year to RMB 159.5 million, with net profit margin recorded 36.5%. Basic earnings per share was RMB 15.45 cents. The Board has recommended the payment of a final dividend of RMB 2.33 cents per share for the year ended 31 December 2015.

Export Tax Software and Related Services
Benefited from the robust sales of new products, revenue generated from export tax software and related services achieved RMB 121.5 million for the year ended 31 December 2015, representing a 33.4% year-on-year growth. Leveraging on years of experience and professional knowledge in the export tax industry, the Group was able to swiftly react on the policy change (which disallowed export documents to be printed on paper) by launching products which helped export enterprises to submit their tax filings efficiently during the reporting period. The relevant products were greatly welcomed by the market.

In addition, the Group launched the overseas visitors sales tax refund platform for Shanghai in July 2015. By the end of 2015, there were 182 tax refund counters in Shanghai that issued over 3,000 refund invoices, representing over RMB 20 million of refundable sales value. Leveraging on the implementation experience in Shanghai, the Group will strive to expand the overseas visitors tax refund platform to other provinces and cities. Overseas visitors tax refund platforms for Guangdong Province, Anhui Province, Liaoning Province, Qingdao and Jiangsu Province provided by the Group are expected to be launched in 2016.

Carbon Management Solutions
In order to prepare the national carbon trading which will be launched in 2017, and to achieve the goal of meeting carbon emission peak in 2030, governments of different administrative levels and enterprises are escalating their efforts in energy saving and reducing carbon emission. This has helped to drive up the Group's revenue from carbon management solutions by 30.2% year-on-year to RMB 86.6 million for the year ended 31 December 2015.

During the year under review, the Group has been developing a national key enterprises carbon reporting platform for National Center for Climate Change Strategy and International Cooperation. Over ten thousand key energy consumption enterprises will report their carbon emission figures through this platform, so as to prepare data support for the upcoming national carbon trading. Meanwhile, the Group continued to enrich its product lines. Apart from developing the ecology cloud platform extended from carbon management platform, the Group also implemented the first carbon management platform for industrial park and sold energy management system to state owned enterprises.

e-Government Solutions
With the backdrop of Chinese central government intensely encouraging spending of information technology, as well as continuous expansion of the application of e-Government, revenue generated from e-Government solutions for the year ended 31 December 2015 increased by 23.0% year-on-year to RMB 183.3 million.

During the year under review, the Group continued to deepen its implementation of technologies such as big data analysis, Internet of Things and mobile technology, so as to develop innovative solutions for various areas of e-Government. These solutions include the first management platform for courier industry, WeChat police platform which is mobile users friendly, and data sharing platform between different departments. Developing e-Government solutions for different industries, not only increased the Group's revenue, it also enhanced the Group to broaden development opportunities through analyzing different industries' data.

Outlook
China marches into its first year of 13th Five Year Plan in 2016. The 13th Five Year Plan proposed innovation, coordination, green, open and sharing as essential development concepts. Information technology is indeed the key means to accomplish these concepts. The Group will continue to seize opportunities from macro policies, enhance its R&D capability and competitiveness, to develop its core business segments.

Under the concepts of opening to the world economy and coordinating the balance between internal and external demands, policies of export tax rebate and overseas visitors sales tax refund remain in focus. The Group will continue to keep abreast of market development to provide software products, training courses and consultation services for export enterprises. Apart from selling the overseas visitors tax refund system to different provinces and cities, the Group will continue to explore for other opportunities and further room for expansion and development, such as mobile application and product sales analysis, with an objective to generate greater revenue. For carbon management solutions, the Group will intensify the promotion of carbon reporting platform for regions as well as carbon asset management software for enterprises, to prepare for the national carbon trading. For e-Government solutions, the Group will tap into more new areas of e-Government and to exert additional resources for R&D on e-Government solutions for cell phone applications, which are convenient for citizens, efficient for communication, and at the same time able to gather more data for analysis, so as to enhance governments' decision making.

About Sinosoft Technology Group Limited
Sinosoft Technology Group Limited is an advanced provider of application software products and solutions in the PRC. The Group principally develops and markets export tax software and related services, carbon management solutions and e-Government solutions. The Group is the only supplier of export tax software in Jiangsu Province with over 15 years of experience in developing tax related software. Also, the Group is the first mover in carbon management solutions, and a renowned player in the provision of e-Government solutions in the PRC. The Group's R&D standard is widely recognized with the accreditation of "Key Software Enterprise under the National Plan" and CMMI Level 5, which possessed the highest maturity level under the CMMI accreditation system regarding the standard of product planning, software development, business consultation, managing and maintenance procedure.

Topic: Press release summary Sectors: Daily Finance, IT Individual, Daily News
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