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Yucheng appoints new officer to its Board of Directors

Thursday, August 19th, 2010

British Virgin Islands-registered company Yucheng Technologies Limited announced the new appointment to its Board of Directors. Zhenwei Ni was one of the founders of Haihua Company. Until being retired from the post of the president of the company in 2004, Mr. Ni turned Haihua into one of the most prominent IT services companies in China. Then, he has been acting as advisor to many pulicly listed companies in China including Yucheng Technologies. Mr. Ni is also an independent director of the HK-listed companies Sino Oil and Gas Holdings Ltd.  and VST Holdings Ltd.

Chairman and CEO of Yucheng Technologies Weidong Hong noted in his comments that the extensive experience of Zhenwei Ni and his knowledge in IT industry as well as his extensive presence in the industry will be of great value to the BVI company, in executing its plans to develop into a premier IT solutions provider to the banking industry of China.

In Yucheng, Mr. Ni will also serve on the Board’s Strategy Committee, Audit Committee, and Compensation Committee.

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A-Power’s subsidiary entered into strategic partnership with Baoding Huide

Wednesday, August 11th, 2010

BVI-registered A-Power Energy Generation Systems, Ltd. announced that its subsidiary, Shenyang (Ruixiang) Lucky Wind Power Equipments Co., Ltd., had entered into a strategic partnership with Baoding Huide Wind Power Engineering Co. Ltd. , an affiliate of China Aviation Industry Corporation. 

Baoding Huide is a renewable energy company headquartered in Baoding National High-tech Zone in Hebei province.

According to company’s press-release, the partnership of A-Power’s subsidiary and Baoding Huide will align A-Power’s brands, marketing initiatives and developing presence in the U.S. with the production and technology of Baoding Huide’s assets. Close co-operation is expected also in the sphere of research and development, joint ventures, resource sharing and new business opportunities.

Mr. Jinxiang Lu, Chairman and Chief Executive Officer of the BVI company, said in his comments that this partnership will enhance A-Power’s wind business with Baoding Huide’s assembling facility of wind turbine equipment. Mr. Bin Wang, Chairman of Baoding Huide, said that the partnership will bring good opportunities for both companies.

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Pansoft signed agreement with Jinan Housing Industrialization Development Center

Tuesday, August 3rd, 2010

Pansoft Company Limited,  BVI-registered ERP software service provider for the Chinese oil and gas industry, signed an agreement with Jinan City Housing Industrialization Development Center – a  state-controlled business under the Urban Construction Committee of the Jinan Municipal Government. According to the agreement for developing and operating a web based software platform – the China Skeleton Infilling (CSI) Products E-commerce Platform, – the BVI company will invest RMB 15 million over three years, for a 70 percent stake in the CSI Products E-commerce Platform.  Jinan Housing Industrialization Development will provide the relevant CSI technology and trading model, in exchange for a 30% stake in the platform.

The Director of the Jinan City Housing Industrialization Promotion Center Mr. Quanliang Wang said that CSI model apartments are expected to comprise 20 percent of all housing in China in the near future, and the potential market for CSI products will make approximately RMB 110 billion, 22 billion of which is expected to be transacted through the trading platform operated by the joint venture with Pansoft.

By words of Pansoft’s Chairman Hugh Wang, the cooperation with the Jinan Housing Industrialization Development Center is a “great opportunity for Pansoft to enter enter into the CSI product e-commerce market with solid government support and strong environmental awareness”.

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Origin Agritech Limited received National Agricultural Industrialisation – ‘Leading Enterprise’ title

Thursday, July 22nd, 2010

The joint committee of ministries of the Chinese Government named Origin Agritech Limited for National Agricultural Industrialization -’Leading Enterprise’. Being awarded with this title, which is valid for a year, until July 2012, the BVI company will benefit from corporation taxation exemption, preferential purchase rights and other preferential policies.

The qualification of the company was approved by the following institutions: the Ministry of Agriculture, National Development and Reform Commission, Ministry of Finance, Ministry of Commerce, People’s Bank of China, State Administration of Taxation, China Securities Regulatory Commission, and the China Federation of Supply and Marketing Cooperative.

Mr. Liang Yuan, CEO and President of Origin Agritech, said that this title woud have a great role in the long term development of the company. He also noted that some projects assigned by government ministries “expressly state that only ‘Leading Enterprises’ can qualify toward participation.”

 According to Mr. Irving H. Kau, Acting Chief Financial Officer of the company, ” the income tax exemptions may be the most most important policy to these ‘Leading Enterprises’. However, the company will also enjoy preferential policies in plant and building construction, purchase of raw materials, import and export of equipment, among other important benefits. This will certainly contribute to further enhance the company’s competitiveness.”

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