China’s Neusoft Gained 18.2% Net Profit Growth and 29.6% Overseas Outsourcing Revenue Increase in 2008

SHENGYANG, China, March 30 -- Neusoft Corporation (600718.SH), a leading IT solutions & services provider as well as the largest offshore software & service outsourcing provider in China, published its 2008 Annual Report recently. The report indicates a continuously high-speed growth in its two core businesses, industry solutions and product engineering solutions, based upon its overall business strategy in both domestic and international markets. According to the report, Neusoft achieved a net profit of RMB 491 million Yuan in 2008, an 18.2% increase over 2007, and revenue increased 10.3% to RMB 3.711 billion Yuan. In terms of its global operations, despite the worldwide economic and financial crisis, Neusoft acquired a steady growth in Japan, Europe, and the U.S. markets and earned a total outsourcing revenue of US$ 182 million, a year-on-year increase of 29.6%, and rose to contribute 33.9% of the company's total revenue.

In the year 2008, Neusoft successfully completed its consolidated listing and redefined its mission  “To become a globally leading IT solutions & services provider”. Neusoft effectively expanded its sales systems, and enhanced its overall capacities in open innovation, global delivery and corporate management, which improved its operational quality and ensured steady business growth.

In 2008, Neusoft passed the Capability Maturity Model Integration (V1.2) Level 5 and People Capability Maturity Model ML3 certifications, authorized by Software Engineering Institute (SEI), and became the first software company to pass these appraisals in China. In addition, Neusoft was listed for the fifth time among the 2009 Global Services 100 by the U.S.-based Global Services and neoIT, and continued ranking No. 1 in the category of "Leaders: Emerging Asian Markets" for three successive years since 2007. Moreover, Neusoft also made a breakthrough in the two other categories of "Best Performers: IT Services" and "Leaders: Human Capital Development". 

In addressing this year's development, Mr. Wang Yongfeng, President of Neusoft Corporation, said, "In 2009, the domestic and international markets will be full of uncertainties and challenges. Under such a complex business context, Neusoft has made active business strategies to accelerate the progress of globalization and international markets expansion, consolidate and enhance our predominant position in Japanese market, and further optimize resource allocation in Europe and U.S. markets. Meanwhile, for the domestic market, responding to opportunities brought by China's 4 trillion Yuan stimulus to boost domestic demand, we will pay close attention and follow-up the IT demands from major industries, actively raise market shares, optimize our business model, and input more in product development and service quality based on the premise of continuing increase of our core competitiveness in industry solutions, to maintain steady growth of businesses in the domestic and international markets."

About Neusoft Corporation

Neusoft is a leading IT solutions & services company and the largest offshore software and service outsourcing provider in China. Neusoft has set up a large sales and services network in China, as well as subsidiaries in Japan, USA and Europe, maintaining a total of more than 15,000 employees. For more information about Neusoft, please visit: https://www.neusoft.com/en .

For more information, please contact:

Evelyn Tang
Senior PR Manager
Neusoft Corporation
Tel:   +86-24-8366-5663
Email: tangyi@neusoft.com