Tag Archives: FIN

iSoftStone Announces Closing of Merger

BEIJING, August 30, 2014 /PRNewswire/ — iSoftStone Holdings Limited (“iSoftStone” or “the Company,” NYSE: ISS), a leading China-based IT services provider in the People’s Republic of China, announced today the completion of the merger (the “merger”) with New iSoftStone Acquisition Limited (“Merger Sub”), a wholly-owned subsidiary of New iSoftStone Holdings Limited (“Parent”), pursuant to the agreement and plan of merger (the “merger agreement”) dated April 18, 2014 by and among Parent, Merger Sub and the Company. As a result of the merger, the Company ceased to be a publicly traded company and became a wholly-owned subsidiary of Parent.

Under the terms of the merger agreement, each of the Company’s ordinary shares, par value US$0.0001 per share (the “Shares”) issued and outstanding immediately prior to the effective time of the merger has been canceled in exchange for the right to receive US$0.57 in cash without interest, and each of the Company’s American depositary shares, each representing ten Shares (the “ADSs”) issued and outstanding immediately prior to the effective time of the merger has been canceled in exchange for the right to receive US$5.70 in cash without interest (less US$0.05 per ADS cancellation fee), other than (a) Shares (including Shares represented by ADSs) owned by New Tekventure Limited (“Holdco”), Parent, Merger Sub or the Company (as treasury shares, if any), or by any direct or indirect wholly-owned Subsidiary of Holdco, Parent, Merger Sub or the Company, in each case immediately prior to the effective time of the merger, (b) Shares (including Shares represented by ADSs) reserved (but not yet allocated) by the Company for settlement upon exercise and/or vesting of the options, restricted shares and restricted share unit awards of the Company issued under its share incentive plans (the “Share Awards”), (c) Shares (including Shares issuable under Share Awards and Shares represented by ADSs) beneficially owned by certain rollover shareholders and (d) Shares owned by shareholders who have validly exercised and have not effectively withdrawn or lost their dissenters’ rights under the Cayman Companies Law (the Shares described under (a) through (d) above are collectively referred to herein as the “Excluded Shares”).

Shareholders of record as of the effective time of the merger who are entitled to the merger consideration will receive a letter of transmittal and instructions on how to surrender their share certificates in exchange for the merger consideration. Shareholders should wait to receive the letter of transmittal before surrendering their share certificates. As soon as practicable after the date of this announcement, J.P. Morgan Chase Bank, N.A., in its capacity as ADS depositary (the “ADS Depositary”) will call for the surrender of all ADSs (other than any ADS that represents Excluded Shares) for delivery of the merger consideration. Upon the surrender of ADSs, the ADS Depositary will pay to the surrendering holders US$5.70 per ADS surrendered in cash without interest (less US$0.05 per ADS cancellation fee).

The Company also announced today that it has requested that trading of its ADSs on the New York Stock Exchange (“NYSE”) be suspended. The Company requested NYSE to file a notification on Form 25 with the Securities and Exchange Commission (the “SEC”) to remove its ADSs from listing on NYSE and withdraw the registration of its registered securities under section 12(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The deregistration under section 12(b) will become effective in 90 days after the filing of Form 25 or such shorter period as may be determined by the SEC. The Company will also terminate the registration of its registered securities under section 12(g) of the Exchange Act and suspend its reporting obligations thereunder by filing a certificate and notice on Form 15. The Company’s obligations to file with the SEC certain reports and forms, including Form 20-F and Form 6-K, will be suspended immediately as of the filing date of the Form 15 and will terminate once the deregistration under section 12(g) becomes effective in 90 days after the filing of Form 15 or such shorter period as may be determined by the SEC.

In connection with the merger, Goldman Sachs (Asia) L.L.C. is serving as financial advisor to the independent committee of the board of directors of the Company (the “Independent Committee”). Kirkland & Ellis is serving as U.S. legal advisor to the Independent Committee and Hankun Law Offices and Maples and Calder are serving as PRC and Cayman Islands legal advisors to the Company, respectively. O’Melveny & Myers is the Company’s U.S. legal advisor.

Lazard is serving as financial advisor to Mr. Tianwen Liu, the Chairman and Chief Executive Officer of the Company, funds managed by China Everbright Investment Management Limited and certain other management members and shareholders of the Company and their respective affiliates (collectively, the “Buyer Group”). Cleary Gottlieb Steen & Hamilton LLP is serving as U.S. legal advisor and with respect to the debt financing, Hong Kong and English law legal advisor to the Buyer Group and Zhong Lun Law Firm and Conyers Dill & Pearman are serving as PRC and Cayman Islands legal advisors to the Buyer Group, respectively. Clifford Chance is serving as Hong Kong and English law legal advisor to the mandated lead arranger of the debt financing and Fangda Partners and Walkers are serving as PRC and Cayman Islands legal advisors, respectively, to the mandated lead arranger of the debt financing.

About iSoftStone Holdings Limited

Founded in 2001, iSoftStone is a leading China-based IT services provider serving both greater China and global clients. iSoftStone provides an integrated suite of IT services and solutions, including consulting & solutions, IT services, and business process outsourcing services. The company focuses on industry verticals that include technology, communications, banking, financial services, insurance, energy, transportation, and public sectors.

Cautionary Statement concerning Forward Looking Statements

This document may include certain statements that are not descriptions of historical facts, but are forward-looking statements. Forward-looking statements can generally be identified by the use of forward-looking terminology such as “will,” “should,” “may,” “believes,” “expects” or similar expressions. All of such assumptions are inherently subject to uncertainties and contingencies beyond the Company’s control and based upon premises with respect to future business decisions, which are subject to change. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For more information, please contact:

iSoftStone Holdings Limited
Mr. Charles Zhang
Acting Chief Financial Officer
ir@isoftstone.com

Christensen
Mr. Tom Myers
+86 10 5900 1548
tmyers@christensenir.com

ChinaSoft International Releases Favorable Interim Results: 41.8% and 42.6% YOY Growth in Service Revenue and Profit Respectively

JointForce Platform Sees Results and Profit Stabilizes

BEIJING and HONG KONG, August 29, 2014 /PRNewswire/ — ChinaSoft International (“ChinaSoft” or “the Company“) (SEHK: 354) announced today the unaudited interim results for the six months ended 30 June 2014.

In the first half of 2014, ChinaSoft’s service revenue and profit was RMB 1.91 billion and RMB 115 million, achieving YOY growths of 41.8% and 42.6% respectively. The Company’s size grew to 23,989 employees.

In the first half of 2014, the different segments of the Company all experienced stable and healthy growths. The highlights include the development and the close beta launch of JointForce platform, Huawei, mobile and cloud businesses.

During the reporting period, the JointForce platform, an Internet crowd source platform developed by the Company itself, has successfully launched the closed beta version and the Company is already seeing an increase in work efficiency and utilization rate. The JointForce platform has successfully controlled the growth of employee number and helped the Company increased its margins compared to the last corresponding reporting period. The internal testing results are evident and successfully met the Company’s expectation of JointForce in the first half of 2014.

Currently, there are over 7,000 registered users, of which around 3,000 users have either posted or bid on jobs for a number of 500 projects. Of which, the entire PSG government business line is now live on JF and has finished online delivery. The central themes of JF are: payment upon completion of project as a true mark of project completion, sub-divide projects into “micro projects” as measurement (divide, grab, deliver, and evaluate projects), business unit managers, project managers, and developers’ “micro management system” that is based on projects (from project management standpoint, it is from bottom up to ensure margins through a transparent support system). From a SaaS standpoint, the Company also associated every JointForce related features with the word “jie,” and put them on Ali-cloud. For example, the corporate instant messaging platform JetChat has the “jie” network, employs the “jie” mission for online delivery, and uses the “jie” resume and “jie” code to create a “jie” community to form an ITS platform (“jie” in English means outstanding and to liberate).

During the reporting period, the strategic cooperation with Huawei stabilized, and the profit increased. For the first half of 2014, the Huawei business achieved a YOY growth of 90% with increased profitability. The success of the JV has earned approval from Huawei. Huawei’s managing board believes that the JV between Huawei and ChinaSoft aligns with Huawei’s strategy and complement one another, and fully endorses the JV’s delivery and quality control capabilities. As a result, they have decided to continue with the JV model and increase business volume with the JV. This serves as a positive motivation to our team, and is also a signal that the Company has accomplished phase one of our strategy layout with Huawei (earn the trust of Huawei through stable growth of outsourcing business). The Company now enters phase two, using Huawei to rapidly increase businesses in different verticals and overseas. Under the “secure, reliable, and self-controlled” national information strategy, the full-on cooperation with Huawei will be a key driver to help the Company achieve its RMB 10 billion revenue goal. This is a huge profit potential for the Company.

During the reporting period in respect to mobile development, the Company and China Mobile’s Fetion business has deepened its partnership. The Company successfully took over Fetion’s core product development and operation for last year’s contract, and was able to sign a new contract with China Mobile for the 2014-2015 year. Within the last year (contract period), the Company launched over 30 different online versions, including changes to UI, Fetion calling, small phone conference, and payment capabilities and received high praise from China Mobile and clients to become a stable service provider of Fetion. Meanwhile, the Company is actively working with China Mobile in its new “three new” integration messaging strategy project (new calling, new notification, and new communication) to help with the planning, design, and development. The Company has a high chance of becoming the core application developer of this “three new” project and other 4G based project because of the successful partnership the Company has with China Mobile now.

In terms of cloud services, the Company has completed over 6,000 Ali-cloud cloud migration cases, including the CITIC 21CN drug monitoring system, and the customer satisfaction rate is over 99%. With Ali promoting the “digital Internet city” project, cloud migration and operation has become a standard of cloud services. The first execution of it will be at Guizhou and Ningxia. Meanwhile, Catapult, a Microsoft Azure service integrator, is developing new solutions as a service to deal with business issues based on intellectual property rights and consulting services that helps businesses realize profits from cloud services. These services will be pushed out in the fourth quarter (or mid-year for Microsoft).

2014 is the year when we will witness history together. The Company has prepared for a long time for this transformation, and now is the time to start and take off.

For more information related to interim result, please click: http://www.hkexnews.hk/listedco/listconews/advancedsearch/search_active_main.asp

Or visit the official website of ChinaSoft International
http://www.chinasofti.com/superWebCMS/pages/sites/MainSite/html/en/investor/announcement.shtml

About ChinaSoft International Limited, “CSI” (354.HK)

Founded in 2000, ChinaSoft International Limited is a listed company in the Hong Kong Stock Exchange with its code of 354.HK. It is a large Chinese comprehensive software and information services provider, ranging from end to end services of consulting, solution, outsourcing and talent training. It serves clients including government, manufacturing, finance, telecommunication, high-tech, transportation as well as energy. It provides global services to over 100 multinational companies with 23,989 employees located worldwide based in 38 cities including mainland China, Hong Kong, Princeton, Seattle, London, Tokyo and etc. For more information, please visit www.chinasofti.com.

Asia IR-PR, Agency Devoted to China Public Companies, to Attend Upcoming MarcumBP Conference in Beijing

NEW YORK, August 29, 2014 /PRNewswire/ — Asia IR-PR, a full-service PR/IR agency promoting Chinese public companies to the U.S. financial community, said today that its director of Chinese social media, Ms. Yuki Yu, will be in attendance at the MarcumBP 2nd China Best Ideas Investment Conference at the St. Regis Hotel in Beijing on Sept. 16.

Ms. Yu will be located at Asia IRPR’s desk at the front of the hotel exhibit hall, and will be available to answer all questions regarding the agency’s services in Investor Relations, Media Relations, Corporate Communications, Capital Formation, Business Development, and Social Media.

Asia IRPR’s Media Relations department has made placements for clients in The Wall Street Journal, Bloomberg Businessweek, Fortune, Forbes, Reuters, USA Today and other top business/financial sites. The agency’s Investor Relations staff has helped to improve the price, volume and liquidity of its clients’ shares.

The Social Media team, under the direction of Ms. Yu, has placed clients into leading U.S. social media as well as top China-based social media sites including Sina Weibo, Xueqiu and Sohu, each of which are increasingly utilized by Chinese public companies seeking to influence investors.

Ms. Yu will also answer questions on the agency’s new Mandarin/English blog, Asia IRPR Voice, which allows clients to inform worldwide investors of important news and provide opinion on key industry trends.

Asia IRPR works as a full-time agency or as a supplemental resource for companies with existing IR/PR firms. Over the past 10 years, its executives have executed IR/PR campaigns for over 50 U.S.-listed Chinese public companies.

Contacts:

Ms. Yu
+01-914-426-1333
yuki.yu@asia-irpr.com;

Ronald S. Altbach
President of Asia IR-PR
+01-212-616-8082
ron@asia-irpr.com

Asia IR-PR
A Division of Perceptive Programs LLC
156 W 56th Street, Suite 702
New York, NY 10019
http://www.asia-irpr.com/

UTSTARCOM HOLDINGS CORP. to be Featured at 2014 MarcumBP China Best Ideas Investment Conference

Will hold investor presentation and meetings at St. Regis Beijing, September 16th

HONG KONG, August 29, 2014 /PRNewswire/ — UTSTARCOM HOLDINGS CORP. (NASDAQ: UTSI) announced today that it has been selected as a featured company at the second annual MarcumBP China Best Ideas Investment Conference on Tuesday, September 16th, 2014 at the St. Regis hotel in Beijing.

The China Best Ideas Conference is designed to introduce investors to Chinese companies that are well positioned for growth, have solid and transparent business models, and adhere to high corporate governance standards. The conference, which is hosted by Marcum, Bernstein & Pinchuk LLP (“MarcumBP”) also provides a forum for investors, senior management, and professionals who desire to enhance the practices and market quality for Chinese companies listed overseas.

Senior executives from UTSTARCOM HOLDINGS CORP. including Mr. William Wong, Chief Executive Officer, and Mr. Min Xu, Chief Financial Officer, will be making a presentation to investors at 9:00am and will also be available for selected one-on-one meetings with investors. The power point presentation is available for downloading at http://www.utstar.com/investor-relations or by request to Jane.zuo@utstar.com

About MarcumBP 2014 China Best Ideas Investment Conference

The conference, hosted by Marcum Bernstein & Pinchuk LLP, is designed to highlight those Chinese companies that have demonstrated strong financial performance, robust business models, and excellent corporate governance. The conference will showcase companies ranging from large-cap to small-cap in growth sectors including internet, IT, consumer, media, healthcare, and education. With input from investors and analysts, your company has been selected as one of the “best-of-the-best” names.

Last year, the conference attracted several hundred institutional investors, private equity investors, and investment bankers, and the companies that were selected have shown share price increases of over 50% on average. Given the increased number of Chinese IPOs in recent months and the structural changes to China’s economy, we expect an even stronger level of attendance at our 2014 event.

The conference provides the opportunity for group presentations, which last year averaged well over 50 participants, and a full day of one-on-one meetings. The conference is free to attend for all institutional investors, who can register at

http://www.marcumbp.com/CBIIC/registration.htm. For information about sponsoring or attending the event please contact Summer Chen at summer.chen@marcumbp.com or +1(646) 472 1876

About UTStarcom Holdings Corp.

UTStarcom (NASDAQ: UTSI) is a global telecom infrastructure provider dedicated to developing technology that will serve the rapidly growing demand for bandwidth from cloud-based services, mobile, streaming and other applications. We work with carriers globally, from Asia to the Americas, to meet this demand through a range of innovative broadband packet optical transport and wireless/fixed-line access products and solutions. The Company’s end-to-end broadband product portfolio, enhanced through in-house Software Defined Networking (SDN)-based orchestration, enables mobile and fixed-line network operators and enterprises worldwide to build highly efficient and resilient future-proof networks for a range of applications, including mobile backhaul, metro aggregation, broadband access and Wi-Fi data offload. Our strategic investments in media operational support service providers expand UTStarcom’s capabilities in the field of next generation video platforms. UTStarcom was founded in 1991, started trading on NASDAQ in 2000, and has operating entities in Tokyo, Japan; San Jose, USA; Delhi and Bangalore, India; Hangzhou, China. For more information about UTStarcom, please visit http://www.utstar.com.

Contact:

Jane Zuo
UTStarcom Holdings Corp.
Tel: +852-3750-7632
Email: jane.zuo@utstar.com

About Marcum Bernstein & Pinchuk LLP
Marcum Bernstein & Pinchuk LLP is a recognized leader in providing SEC accounting and advisory services to companies with significant operations and financial interests in Asia. Ranked #4 in the top 20 SEC Practices in China Audit Firms by Audit Analytics, MarcumBP offers a full range of audit and assurance, tax and transaction advisory services for clients in a variety of industries throughout the world with the full resources of its parent company, Marcum LLP, a top-ranked accounting and advisory firm with 23 offices in the U.S., China and Grand Cayman. For more information, please visit: www.marcumbp.com

CONTACTS:

Marcum Bernstein & Pinchuk LLP
Andrea Cheng
Marketing Director
Marcum Bernstein & Pinchuk LLP,
+1-347-952-5977
Andrea.Cheng@marcumbp.com

SKY-MOBI LIMITED to be Featured at 2014 MarcumBP China Best Ideas Investment Conference

– Will hold investor presentation and meetings at St. Regis Beijing, September 16th

HANGZHOU, China, August 29, 2014 /PRNewswire/ — SKY-MOBI LIMITED (NASDAQ: MOBI)announced today that it has been selected as a featured company at the second annual MarcumBP China Best Ideas Investment Conference on Tuesday, September 16th, 2014 at the St. Regis hotel in Beijing.

The China Best Ideas Conference is designed to introduce investors to Chinese companies that are well positioned for growth, have solid and transparent business models, and adhere to high corporate governance standards. The conference, which is hosted by Marcum, Bernstein & Pinchuk LLP (“MarcumBP”) also provides a forum for investors, senior management, and professionals who desire to enhance the practices and market quality for Chinese companies listed overseas.

Senior executives from SKY-MOBI LIMITED including John Bi, CFO will be making a presentation to investors at 10:30am and will also be available for selected one-on-one meetings with investors.

About MarcumBP 2014 China Best Ideas Investment Conference

The conference, hosted by Marcum Bernstein & Pinchuk LLP, is designed to highlight those Chinese companies that have demonstrated strong financial performance, robust business models, and excellent corporate governance. The conference will showcase companies ranging from large-cap to small-cap in growth sectors including internet, IT, consumer, media, healthcare, and education. With input from investors and analysts, your company has been selected as one of the “best-of-the-best” names.

Last year, the conference attracted several hundred institutional investors, private equity investors, and investment bankers, and the companies that were selected have shown share price increases of over 50% on average. Given the increased number of Chinese IPOs in recent months and the structural changes to China’s economy, we expect an even stronger level of attendance at our 2014 event.

The conference provides the opportunity for group presentations, which last year averaged well over 50 participants, and a full day of one-on-one meetings. The conference is free to attend for all institutional investors, who can register at

http://www.marcumbp.com/CBIIC/registration.htm. For information about sponsoring or attending the event please contact Summer Chen at summer.chen@marcumbp.com or +1(646) 472 1876

About SKY-MOBI LIMITED

Sky-mobi Limited is a leading mobile application platform in China. The Company works with handset companies to pre-install its Maopao mobile application store on handsets and with content providers to provide users with applications and content titles. Users of its Maopao store can browse, download and enjoy a range of applications and content, such as single-player games, mobile music and books on various mobile handsets with different hardware and operating system configurations. The Company’s mobile social network community in China, the Maopao Community, offers mobile social games, as well as applications and content with social network functions to its registered users. The Company is based in Hangzhou, China. For more information, please visit: www.sky-mobi.com.

Contact:

Sky-mobi Limited
Mr. John Bi, Chief Financial Officer
Phone: + (86) 571-8777 0978 (Hangzhou, China)
Email: investor.relations@sky-mobi.com

About Marcum Bernstein & Pinchuk LLP
Marcum Bernstein & Pinchuk LLP is a recognized leader in providing SEC accounting and advisory services to companies with significant operations and financial interests in Asia. Ranked #4 in the top 20 SEC Practices in China Audit Firms by Audit Analytics, MarcumBP offers a full range of audit and assurance, tax and transaction advisory services for clients in a variety of industries throughout the world with the full resources of its parent company, Marcum LLP, a top-ranked accounting and advisory firm with 23 offices in the U.S., China and Grand Cayman. For more information, please visit: www.marcumbp.com

CONTACTS:

Marcum Bernstein & Pinchuk LLP
Andrea Cheng
Marketing Director
Marcum Bernstein & Pinchuk LLP
+1-347-952-5977
Andrea.Cheng@marcumbp.com