Science & Technology
Science and Technology
Science and Technology
Tue, January 20, 2009 Pansoft Company Limited : Pansoft Company Limited Announces Its Three-Year Growth Strategy
JINAN, CHINA--(Marketwire - January 20, 2009) - Pansoft Company Limited (
Mr. Hugh Wang, Chairman of the board, stated, "While the financial crisis has spread globally, and the world economy is in recession, our company is experiencing continued growth. The recent board meeting held on December 13, 2008 approved a three-year budget and multi-year plan for business expansion. Executing the growth strategy, Pansoft should quickly scale up in the coming years and emerge as the predominant software solutions and services provider in China' management software market."
Pansoft will achieve its expansion through organic growth as well as mergers and acquisitions. As the largest domestic ERP solutions and services provider to the energy industry in China, Pansoft will focus on expanding its project scope and service offerings to various subsidiaries of its large clients. In addition, leveraging its successful business model, the company will launch similar solutions and services outside of the energy industry for additional organic growth. With a strong balance sheet and adequate cash on hand, Pansoft is actively seeking attractive acquisition targets in the current favorable price environment. Mergers and acquisitions should help Pansoft enter another high growth industry.
Hugh commented on the strategy, "With the business expansion strategy being implemented, I expect Pansoft to grow at approximately 40% annually excluding acquisitions for the next three years. We will continue to prudently manage our expenses in order to sustain our excellent operating margins. As we ring the opening bell at NASDAQ on January 23, Pansoft will start a new chapter and exciting journey. I am optimistic about our growth prospects in 2009 and beyond."
The company's management has scheduled several conferences with investors and analysts in the U.S from January 23 to January 30, 2009 to present its business strategies, including a presentation to Long Island Investment Banking Group on January 27, 2009.
Forward-Looking Statements
This press release may contain forward-looking statements concerning Pansoft Company Limited. The actual results may differ materially depending on a number of risk factors including, but not limited to, the following: general economic and business conditions, development, shipment, market acceptance, additional competition from existing and new competitors, changes in technology or product techniques, and various other factors beyond its control. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risk factors detailed in the Company's reports filed with the Securities and Exchange Commission. Pansoft Company Limited undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
About Pansoft Company Limited
Pansoft is a leading enterprise resource planning ("ERP") software solutions and on-demand customized services provider for the oil and gas industry in China. Its ERP software solutions are utilized in various business operations including accounting, order processing, logistics, invoicing, and inventory control and customer relationship management.
