26 October 2009
GEONG International Limited
("GEONG" or "the Company")
Trading Update
GEONG International Limited (AIM: GNG), the AIM listed China based provider of
enterprise content management (ECM) software and solutions, is pleased to
provide an update on trading for the six months ended 30 September 2009.
GEONG has made good progress in the first half of the financial year with
trading proceeding in line with market expectations for the full year. As at
end of September 2009 the Group's confirmed order book was £13.8 million
compared to £9.6 million for the comparable period in 2008 and £10.6 million as
at 31 March 2009.
The Company's margins rose slightly in the first half. However, the Board
expects margins to stabilise going forward. All of GEONG's products and
services have shown good growth in the first half whilst third party revenue
has declined slightly.
GEONG has a strong balance sheet with no debt and there is a continuing focus
on working capital management. As at 30 September 2009 net cash balances
amounted to £2.4 million, compared to £0.5 million a year ago and £3.6 million
as at 31 March 2009. The current net cash balance is £4.5m following completion
of the recent successful fund-raising.
The Company will be announcing its interim results for the six months ended 30
September 2009 on 2 December 2009.
For further information, please contact:
GEONG International Limited www.geong.com Tel: +86 10 5222 0999
Henry Tse, Chairman
Weidong Wang, CEO
Amit Thakar, CFO
Seymour Pierce Tel: +44 (0)20 7107 8000
John Depasquale
ICIS Tel: +44 (0)20 7651 8688
Bob Huxford
Hilary Millar
About GEONG International Limited
Operational since 2000, GEONG specialises in collaboration and content
management software and services. Its products are specifically tailored for
the Chinese market, where the Company is recognised by Government agencies and
numerous blue chip clients as a leader in its field. GEONG was named The Most
Successful Enterprise in ECM Software in China 2007 to 2008 by China's Centre
for Information Industry Development and CCID Consulting; and one of the
fastest growing companies in Asia at the Deloitte Technology Fast 50 China and
Deloitte Technology Fast 500 Asia Pacific awards. The Company has recently
expanded into North America setting up operations in Canada.
Registered in Jersey, the Company's operations are headquartered in Beijing.
The Company's shares were admitted to AIM in June 2006 and trade under the
ticker GNG.L
For more information, please visit www.geong.com