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Yucheng Technologies Ltd. Announces its Listing on the NASDAQ Capital Market
Wednesday March 14, 10:04 am ET
http://biz.yahoo.com/prnews/070314/cnw010.html?.v=27
BEIJING, March 14 /Xinhua-PRNewswire/ -- Yucheng Technologies Ltd. today announced that its common stock and warrants have commenced trading on NASDAQ Capital Market under the symbols YTEC and YTECW respectively, effective today -- Wednesday, March 14, 2007.
Yucheng Technologies Ltd., a leading IT solution and services provider to the local Chinese banking industry, is the combination of Beijing Sihitech Technology Co., Ltd., Beijing e-Channels Technology Co., Ltd., and China Unistone Acquisition Corporation. It was previously traded on the OTCBB under the symbols YCHTF.OB and YCHWF.OB upon the consummation of its merger on November 24, 2006.
Yucheng Technologies Ltd. is the first local Chinese IT solution and services provider to the Chinese banking industry to be listed on NASDAQ. Weidong Hong, CEO of Yucheng Technologies Ltd., stated: "We are thrilled to be listed on the NASDAQ Capital Market, which brings international public company prestige to our existing market leadership position, our strong local management team, and proven track record in the banking IT segment in China. Being a NASDAQ listed company, Yucheng will be in an even better position to be the preferred and trusted local choice to provide the IT solutions and services that local Chinese banks increasingly need to expand their capabilities and enhance their competitiveness in an increasingly open financial services industry."
About Yucheng Technologies Ltd.
Yucheng Technologies Ltd. (Nasdaq: YTEC; YTECW) is an IT solution and services provider to the Chinese banking industry. Headquartered in Beijing, China, Yucheng has established an extensive footprint to serve its banking clients nationwide with five subsidiaries and representative offices located in Shanghai, Guangzhou, Xi'an, Xiamen, and Chengdu. Yucheng currently has more than 660 employees across China. Yucheng provides a comprehensive suite of IT solutions and services to Chinese banks ranging from system integration and IT consulting, to IT solutions, software platform, and outsourced operations. Yucheng counts 12 out of the 15 top local commercial banks in China as its customers, and is especially strong in banking channel management IT solution and services, such as web banking and call centers. It has the largest market share in the web banking application market in China by user base according to a third party research report. Most recently, Yucheng made a strategic investment to provide risk management services to meet its clients' growing demand in this area driven by its profit conscientiousness and Basil Accord II compliance. Yucheng is ranked one of the top five IT solution providers, along with IBM and Digital China by IDC's "China Banking Industry IT Solution 2006-2010 Forecast and Analysis" report released in September 2006. Yucheng management team consists of industry veterans with extensive experience in serving the Chinese banking industry.
http://biz.yahoo.com/prnews/070314/cnw010.html?.v=27
Wednesday, March 14, 2007
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