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Pansoft Company Limited : Pansoft and Microsoft Held Joint Press Conference "ERP Innovation for Chinese Group Corporations

^{Published on 2009-09-18 05:41:00 - Market Wire}
 

WESTPORT, CT--(Marketwire - September 18, 2009) - Pansoft Company Limited (NASDAQ: [ PSOF ]) today announced that on September 17, 2009 in Beijing Pansoft held a successful joint press conference with Microsoft. Mr. Francis Sun, General Manager of the Greater China Region of Microsoft Business Solutions (MBS) and Mr. Guoqiang Lin, CEO of Pansoft, hosted the "ERP Innovation for Chinese Group Corporations" conference. There were more than 30 major media firms that attended the meeting.

Pansoft signed a Solution Provider Agreement (SPA) with Microsoft China, Co., Ltd. on May 11, 2009 to develop a centralized financial and accounting solution for Microsoft's Dynamics AX, a comprehensive ERP (Enterprise Resource Planning) system targeting large enterprises as well as growth Chinese corporations. After a short four months of diligent work, Pansoft's technical team successfully completed the project, which is now ready for the market debut. Pansoft is the only Chinese firm involved in the development of financial system for Dynamics AX. It was chosen to be the alliance partner with Microsoft given Pansoft's enormous success in developing a Centralized Financial and Accounting System for PetroChina. That solution was highly praised by Mr. Jun Wang, China's Vice Minister of Finance and he called the system an "impressive and exciting innovation for China."

Pansoft leveraged the concept from PetroChina's solution and developed the program for Dynamics AX to enhance the centralized financial and accounting function. Mr. Sun, General Manager of MBS said, "Microsoft strives to bring the best global managerial experiences to Chinese corporations. We are pleased to be the partner with Pansoft, a company with extensive experience in corporate financial management. We can complement each other's strengths to provide the best solutions for our clients."

Microsoft has superior brand recognition as well as broad sales and distribution channels globally. Pansoft's partnership with Microsoft adds additional sales venue to the company's products and solutions. In addition, it should increase Pansoft's own brand awareness. More importantly, as Dynamics AX is marketing to Chinese group corporations in various industries, it should help Pansoft enter other markets beyond oil and gas. This fits in with Pansoft's business development strategy.

Mr. Lin, CEO of Pansoft, commented, "Chinese enterprises' background histories, cultural and management habits and regional characteristics all add difficulties to ERP system implementations in China. However, Pansoft has long and strong business relationships with large oil and gas companies such as Sinopec and PetroChina and we understand our customers' needs. We are able to provide onsite services and solutions based on their unique requests. The solutions we developed emphasized practicality and efficiencies, which are the same concepts drawn upon when we created the centralized financial solution for Microsoft Dynamics AX ERP system. I am confident that the Dynamics AX will be well received by Chinese corporations. We are establishing a new department for its sales, implementation and maintenance to cooperate with Microsoft's marketing efforts. We will provide training for Microsoft's partners and channel members next month to help the new solution get to customers as soon as possible. I am excited about Pansoft's growth prospects."

About Pansoft Company Limited

Pansoft is a leading enterprise resource planning ("ERP") software and professional services provider for the oil and gas industry in China. Its ERP software offers comprehensive solutions in various business operations including accounting, order processing, delivery, invoicing, inventory control and customer relationship management.

Mr. Hugh Wang, Chairman of Pansoft's Board of Directors and Mr. Allen Zhang, Pansoft's CFO, were interviewed by CEOCFO magazine. Please see the detailed interview at: [ http://ceocfointerviews.com/interviews/PSOF-Pansoft.htm ]

Forward-Looking Statements

This press release contains forward-looking statements concerning Pansoft Company Limited, which include but are not limited to, statements regarding Pansoft's development strategies and business growth. 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, and 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.