2nd Dec 2008 07:01
2 December 2008 GEONG International Limited ("GEONG" or "the Company") Contract wins and contract extensions worth ‚£3.3m
GEONG International Limited (AIM: GNG), the AIM listed, China based provider of enterprise content management (ECM) software and solutions, today is pleased to announce that it has signed a number of contracts within the Chinese financial services, telecommunications and automotive sectors worth a total of approximately ‚£3.3 million.
The largest of the financial services contracts is with China Construction Bank (CCB) and is for a new Generation Portal. This Portal will help CCB build on-line marketing, research, trading platforms and service functions for their financial products to significantly improve their on-line business. The contract, which covers the period of six months, is worth approximately ‚£0.38 million (RMB 4.2 million).
GEONG has also signed two contracts with the Bank of Communications worth ‚£0.4 million (RMB 4.4 million). One contract, worth approximately ‚£0.3 million (RMB 3.2 million) is for the annual maintenance of Bank of Communications current Enterprise Information Portal whilst the other contract is to build an E-Learning system based on the PortalAgeTM platform. The new E-Learning system will be used by the bank to train its 50,000 employees. This is the first E-Learning system GEONG has developed and will now be offered to existing customers.
In addition, GEONG has signed contracts with three new clients in the banking sector: Everbright Bank of China, Industry Bank of China and the Bank of Shandong. The contracts, worth a combined total of approximately ‚£0.54 million (RMB 5.9 million) include providing new solutions based on the PortalAge platform. These include a financial trading and services portal, and a combined Enterprise Customer Information system and Business Intelligence system.
Approximately ‚£2.3 million of the contract wins and extensions will occur in the current financial year. Non-disclosure agreements prevent GEONG from disclosing detail with regards to the telecommunications and automotive sector contract wins.
Commenting on the contract wins, WeidongWang, Chief Executive of GEONG, said:"Even in these difficult times,GEONG is continuing to sign new customers,extend contracts with existing customers and develop innovative new products andservices in new and existing sectors. The nature of our PortalAge customer base,which is constantly expanding, demonstrates the quality of the products andservice GEONG hasto offer." - ENDS- Enquiries:Henry Tse, Chairman www.geong.com Weidong Wang, CEO GEONG International Limited Tel: +86 10 5222 0999 Paul Dulieu / Mike Ward Redleaf Communications Ltd Tel: +44 (0)20 7566 6700 John Depasquale Seymour Pierce Tel: +44 (0)20 7107 8000 Notes to Editors
About GEONG International Limited
* GEONG is registered in Jersey and headquartered in Beijing. Its shares were admitted to AIM in June 2006 and trade under the ticker GNG.L * The Company has provided content management software and solutions since its establishment in September 2000 and has earned a reputation as a local technology leader in the Chinese Enterprise Content Management (ECM) market, especially in the financial services industry. * ECM software is an internet based suite of products that enables companies to capture, manage, store, preserve and deliver content, documents and data across thousands of users, processes and locations. * The Company has developed two proprietary product ranges: the PortalAgeTM suite designed for large enterprise customers and SmartBoxTM designed to capture the SME market's requirement for collaboration software. * PortalAgeTM clients include: Lenovo, Bank of Communications, China Construction Bank, FAW Volkswagen, Shanghai Automotive Industry Corporation, Shanghai General Motors and Air China. * In March 2007, the Company established a Canadian representative office in order to commence the international promotion of SmartBoxTM. * In 2006, GEONG was recognised for the second successive year in the Deloitte "Technology Fast 50 China 2006" and the "Technology Fast 500 Asia Pacific 2006", which recognises the fastest growing technology companies in China and in Asia Pacific respectively. * GEONG was short listed for the "Best Technology" category at the 2007 AIM Awards. * In October 2007, the company established a Guangzhou branch office in order to commerce the expansion of both PortalAgeTM and SmartBoxTM in Southern China.
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