9 February 2010
GEONG International Limited
("GEONG" or "the Company")
Contract Wins
GEONG International Limited (AIM: GNG), the AIM listed China based provider of
enterprise content management (ECM) software and solutions, is pleased to
announce that it has recently extended or newly won a significant number of
contracts, worth a total of RMB 22.4m for delivery over the next 18 months.
The contract wins cover a variety of the principal sectors in which GEONG
operates including banking, telecommunications, automotive, and insurance.
These are complex, industry specific solutions and are available through both
GEONG's IaaS and SaaS delivery models. Contracts are either project-based or
contract extensions. The insurance contracts are newly won and the management
believes that the Insurance industry could provide significant growth as GEONG
makes inroads into that industry. All solutions are strongly supported by
GEONG's long-term partners, IBM and Oracle.
Banking: Total value of contracts signed RMB 15.5m
- ICBC (Beijing, Shaoxin and Wenzhou branches): Amount RMB 0.6m
- CCB: to provide the third phase function for CCB's portal including sales and
marketing, and mortgages: Value RMB 2.9m
- Everbright Bank: to provide GEONG's UxD consultancy and second phase portal:
Value RMB 2m
- Bank of Qi Lu: to provide GEONG SmartBanking Portal Solution to help the bank
build a new generation employee portal and integrate with more than 10 internal
applications: Value RMB 1.6m
- Guangdong development bank: GEONG has signed two contracts with GDB the total
value of which are RMB 4.9m:
1. Portal and Internet Banking: to provide GEONG SmartBanking Portal Solution:
Value RMB 0.9m
2. One year contract from Jan 2010 to service portal (GEONG also provides UxD
consultancy): Value RMB 4m per year
- China Unionpay: to provide GEONG SmartBanking Portal Solution to build a new
generation portal: Value RMB 3.5m
Telecom: Total value of contracts signed RMB 1.5m
- China Mobile: Widening relationship with China Mobile as it expands its
systems into more than 10 provinces. This involves two new contract signings
for the provision of GEONG SmartTelecom Portal Solution to the Shangdong
Province and Guangxi province
Auto: Total value of contracts signed RMB 3.0m
- FAW Volkswagen and Beijing Hundai: Signed contracts to provide GEONG
SmartAuto Portal Solution
Insurance Sector: Total value of contracts signed RMB 2.4m
- Taiping Insurance Group and Happy Insurance: Significant contract wins with
two insurance clients involving the provision of GEONG SmartInsurance Portal
Solution to help build new generation eInsurance Portals.
Weidong Wang, Chief Executive of GEONG, commented: "We are delighted with these
contract signings which reflect a growing demand for our offerings across the
markets in which we operate. In addition, the contract extensions that we have
signed in recent months demonstrate our ability to foster successful long-term
relationships with tier-1 clients."
For further information, please contact:
GEONG International Limited www.geong.com Tel: +86 10 5222 0999
Weidong Wang, CEO
Amit Thakar, CFO
Seymour Pierce Tel: +44 (0)20 7107 8338
Nandita Sahgal
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