CE plans listing as IT service provider

Dongli Technology Co plans to become listed in the domestic market next year amid rising demands for informationalization from small- and medium-sized enterprises (SMEs).

The subsidiary of Hong Kong-listed Sino-i Technology Limited has expanded its sales network to more than 50 mainland cities and set up a 7,000-person sales group over the past five years since its establishment.

"Our sales revenue rose from less than 1 million yuan (US$120,773) for the first operating year to more than 300 million yuan (US$36.2 million) last year. The growth was at an encouraging more than 60 per cent on average over the past three years," Danielle Chen, general manager of company told a press conference in Guangzhou yesterday.

Although Chen did not make a forecast for this year's revenue, she said the company, which has established an uniform platform to build websites and mailbox systems for SMEs, provides total solutions for them to do e-business and one-to-one tailor-made services, sees booming business and will have "considerably big growth".

To further improve branding, the company will go public on the main board of the domestic stock market "at the proper time" next year since it has finished the one-year coaching required by the Chinese securities authority before an IPO, said Chen.

It may raise less than 600 million yuan (US$72.5 million), or double its current assets, from the capital market as the law stipulates.

The proceedings will partly go to improving infrastructure and upgrading its sales group and research and development centres, said Chen. In five years, it will have a total of 1,000 IT professionals in its three R&D centres in Beijing of North China, Guangzhou of South China and Xi'an of West China from the present 200.

Meanwhile, the company plans to build the country's largest IT application software and multi-media centre in Beijing Economic-Technological Development Zone with a floor area of 50,000 square metres, she said.

Currently, CE Dongli services more than 70,000 SMEs nationwide, most of them in South China and East China.

Source: China Daily