in the July 29 listing of the SST

musicdqug · Wysłany: Pią 2:05, 04 Mar 2011 Temat postu: in the July 29 listing of the SST

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a hundred Chinese software companies in 2002 ranked 59 IC design companies, Hangzhou Silan back in October 2000 on the whole converted into a Corporation, enter the listing of counseling period. The following year, 238 applications in Queensland companies listed on GEM list.

but was indefinitely shelved GEM Shenzhen, Hangzhou Silan has repeatedly postponed the listing schedule. The end of counseling, domestic GEM still not clear, and I feel anxious Silan it had to find another way.

2001, the sales of 271 million board Hangzhou Silan have the opportunity to choose. Two weeks ago, Commission of Swaziland through the hair, is expected in September this year, an official in the A-share listed. Listing

jump the queue in Hangzhou Hi-Tech Industrial Park, from September 2001 has less than a year, in addition to Queensland, there are three software companies landing Hong Kong GEM.

2002 年 7 29, was an unknown medium Xingda Zhejiang Science and Technology Co., Ltd.,Provide comprehensive [link widoczny dla zalogowanych], by way of the Cayman Islands with medium technology group, and thus on the Hong Kong GEM listed companies, fund-raising 1.1 billion Hong Kong dollars, a Zhejiang Province, the largest fund-raising companies within GEM.

this way, the original Hangzhou National Hi-Tech Industrial Park echelon Batch software company listed on the plan has been significantly messy.

the person concerned, according to high-tech zone is expected in late 2002, the district will be divided into two sets of software companies listed on: counseling after the end of the Hang Seng Hangzhou, Hangzhou Sunyard, Hangzhou Silan three national board will be directly .

and less strength, but the growth rate of more than 50% of all venture in Hangzhou, Hangzhou Newgrand, Hangzhou, AGCO, Hangzhou Heng century, Hangzhou Honghua other medium-sized software companies, will give up the domestic second board , diverted GEM.

2002 年 7 月 10, Hangzhou Sunyard SFC A shares Faxingjihua adoption of early August, the 信息 also confirmed, Hangzhou Handsome Electronics listing Qianjing is also uncertain. Hong Kong stocks listed companies have to prepare the application documents submitted to the Commission Office.

However, the \With a foreign background, in the July 29 listing of the SST (08177.hk) and listed in September last year, Hangzhou Lee (08076.hk), and May 3 ways to H shares listed on the Rand Science and Technology Zhejiang University ( 08106.hk), no one appeared before the three companies expect the domestic second board in the list.

jump the queue was not much sign of Hangzhou, China Securities Regulatory Commission Commissioner of the Office of the securities regulators who said the new benefits, medium-range science and technology joint ventures, China Securities Regulatory Commission in the country just a piece of paper \objection \

Therefore, the new benefits, than other mid-range line up the listing process pending the number of listed companies fast.

domestic legal person shares can not trade the risk of widespread investment in software companies can not effectively exit. Therefore,Provide comprehensive [link widoczny dla zalogowanych], venture capital participation, Rand has strengthened the Zhejiang University and other overseas listing decision.

\But afterwards, the industry department say that, so the \

the software companies listed on the line more and more clear, but becoming shorter and shorter time-consuming, raising more and more, the competent departments, software companies controlling their own capital markets docking techniques are skilled.

intermediaries concerned that the successful docking of Hong Kong equities, in the peer has become an example, the recent listing of the new software company in Hangzhou, the radicals will continue to emerge.

advantage in hand?

March this year, software companies eligible to obtain medium-range technology,Provide comprehensive [link widoczny dla zalogowanych], is taking a \

10 years ago to integrate security monitoring started in 1997, the price war because of unbearable fled the battlefield, but at the time, SST has become an industry first, and drink the first water.

interim Chairman of the Group Zhouzhe said the company was integrated into the security surveillance industry, \more than 20 medium-range which is the direct creation of the old unit.

1997, the medium security monitoring will be integrated as part of its new core business --- building intelligent control of a subsystem, the control software component in a proportion of its business gradually increased its business to high-end nature of change. Zhou Zhe says that in 1989,[link widoczny dla zalogowanych], was born in 1998, only the development of new industries, expansion of business in this space should be very well-off.

medium groups, according to the prospectus data show that in 2001 the Group for the Chinese medium-range Top 5 set of Building Solutions, one-way last year,Provide comprehensive [link widoczny dla zalogowanych], accounted for building intelligent control systems within the same business volume of Zhejiang Province 80%, and Zhejiang accounted for about 60% domestic share.

high-tech area has an absolute advantage in the professional field is definitely not a small number of software companies. Hi-tech Zone

data provided by the end of 2001, turnover of 159 million, profit 28 million yuan of Sunyard, electronic document imaging in the domestic market share of over 46% market share, customer service center 23%; Hang Seng's 45% share of the securities software, application software, open-end funds is 43%, closed-end fund is 100% software; business software in the healthcare software market share of 43% of clothing AGCO CAD 30% share of the industry's first ... ... who abound.

Hangzhou professional software company in the industry will owe the success of an early start. In 1990, to president of Bank of America Guohua Jiang will visit the Sunyard the development of electronic image processing ideas back to China, this electronic document imaging technology to save human memory banks, saving film usage, the technology was easy to quickly open the query market; Hangzhou self-interest of the securities commission trading system, earlier than their peers and nearly 10 years. Market opportunities with the huge profits for software companies to establish an advantage in Hangzhou.

But now, competition is already fierce, fleeting advantage. In order to maintain continued growth, software companies must require the development of the industry landscape: specializing in intelligent building applications, SST is currently working to expand the hospital's intelligence system, the Hang Seng is the provincial highway network into the toll system tender.

other horizontal expansion is that many software companies in Hangzhou with the same high-tech zones at UT, Eastern Communications and other companies develop mobile terminal applications, embedded software. In 2001, several major communications companies area of embedded software output value reached 40 billion.

desire

According to the analysis of capital, Hangzhou, was olive-like software distribution company, located at the forefront of China's software over hundred software companies such as Hang Seng, Sunyard, Swaziland capital accumulation have been completed, mind is not entirely out of money market pressure. But Newgrand, business, medium-technology companies to obtain financing channels listed the mood is very urgent.

software industry profit margins are not low. Hangzhou Hi-tech Zone, according to the relevant parties, finance, securities, software for the pharmaceutical industry are in the 30% gross profit, but net income was lower than 15%, most of the costs are recycled into the market process.

rapid development of software enterprises, advances will inevitably bring to bear pressure on cash flow.

Hangzhou prior to listing the relevant benefit information, in March 2001, the new interest receivable has reached 24.8 million, relying on the formation of a new accumulation of Lee's own cash flow, have been insufficient to meet the ever-increasing receivables section.

Therefore, prior to listing the new interest depends to compensate for the domestic commercial bank lending to finance vacancies,Provide comprehensive [link widoczny dla zalogowanych], but the interest rate on corporate loans also form a great pressure.

new interest in the financial industry, is a purchasing policy, the payment mode is extremely strong cyclical industries: the software companies make up about 6 months later, the annual Lunar New Year (12 months after), China Commercial banks will be earmarked for funding a large number of end models will import software company accounts, Prior to this, software companies are required to advance all costs.

same situation also occurs in the Hang Seng Hangzhou. Annual sales of 420 million, profits of more than 5300 million of the Hang Seng in 2001, there are 200 million annual sales of financial software, 7-8 months before the list of the financial industry has done a lot, but the back section has few, and nearly half of the financial Software single business at a loss or profit status.

According to analysts,Provide comprehensive [link widoczny dla zalogowanych], in many industries, the securities industry is undoubtedly rich and powerful software company funds back to the most secure areas of rope,Provide comprehensive [link widoczny dla zalogowanych], but it still takes about 3 to 4 months of implementation, acceptance, Results section process. Second, secure project approval procedure is complicated, but the reputable banks and telecommunications.

ended December 31, 2001 ended three years, China Unicom, mobile, telecommunications and other large customers took up more than 83% of Zhejiang University business share of the Rand. In each business, Zhejiang University Rand charge for first 20% of the total contract as a deposit, another 40% charge after installing the hardware, the system has been tested and completed after the closing by 35%, and the remaining 5% of remaining deposit as a quality charged after one year.

general process cycle interval in March to 12 months.

However, according to the telecommunications industry practice, Zhejiang University, or Rand's advances have encountered serious problems.

general, Zhejiang Land must be given to customers with different financial strength to 20 days to 7 days credit period. After 2000, the telecom operators instead of the Rand data communications provider to be the main customers of Zhejiang University, while the telecom operators of the \million to December 2001 of 32,040,000, once occupied advances related to the balance sheet date Zhejiang Grand total liquidity of 49.4%. In addition, the backlog of sales within the channel section. Ended December 31, 2001,Provide comprehensive [link widoczny dla zalogowanych], Zhejiang Rand distributors on three-month accounts receivable at 238 million.

Even so, financial, telecommunications, or better than many other industries. According to a survey conducted by industry associations, financial software, ERP / CRM, e-commerce software, and software advances account for the daily flow of funds generally above 60% share of the receivables solution to the problem, software companies tend to rely on bank loans,Provide comprehensive [link widoczny dla zalogowanych], But this has generated interest and repayment pressure.

market, many software companies relief. Interest in the new market to raise funds, 830 million used to repay bank loans, the banks medium-range models of technology is 10.3 million Hong Kong dollars.

However, many problems of receivables in only one. It is understood that software enterprises in Hangzhou, the backbone of the salaries of programmers are in the 10 million / year or more, while those such as the Hang Seng leading the \This does not include housing allocation,Provide comprehensive [link widoczny dla zalogowanych], with cars and other related benefits.

software to analyze the business risks of listed companies are all included when the statement \products to face competition, which has become every software company has additional research and development, labor costs put financial pressure cycle. 40% of new benefit to raise funds to invest in research and development and related human more than cost.

2002 年 1 month, Sunyard MBO the end of the 12 chief executive level managers get allotment. According to Wang, Sunyard Board is envisaged by the ESOP Association, to achieve all the employee stock ownership. However, the new benefits, such as Hong Kong stocks listed companies to medium-range \.

however, have opened up capital markets software company, performance is not the same. July 2002, published by the Hong Kong GEM Stock Exchange market value of listed companies show that new home profit software companies in the GEM 146 32-bit, 36-bit SST, and Zhejiang University is located 114 Rand.