notes to the financial statements - Sino

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CHAIRMAN’S STATEMENTOffice Software Products (BeijingRedflag Chinese 2000 Software TechnologyCompany Limited) (“Redflag 2000”), a subsidiaryof the Company, persisted the concept of basingopen source software and promulgated open sourcestandard as well as comprehensive self innovation.In 2008, Redflag 2000 further strengthened itsposition as a leading open source enterprise inChina, and explored ways and methods for Chineseenterprises participating to international opensource community, thus it was highly recognizedby the international community OpenOffice.org.It successfully held the 6th OpenOffice.orginternational annual conference, the scale andimpact of which out-performed the previousconferences. Currently, Redflag 2000 has becomethe second largest technological power in the worldcommunity (SUN Microsystems is the most powerfulone). In addition, Redflag 2000 has facilitatedthe progress of Chinese UOF standard, and madevaluable contribution to the promotion of theChinese standard.cooperation with (Beijing Loongson Technology Service Co.,Ltd.) (“Loongson”), and sped up the realizationof nationwide commercialization of solutions.RedOffice in Loongson version pre-installed inLoongson notebooks will be widely used for basic ITeducation in China.In 2009, on top of its success achieved in 2008,Redflag 2000 will launch a comprehensivepromotion campaign on internet for promotingthe use of RedOffice as a main tool for providing ITapplication services. In the meantime, to coordinatewith the national policy of self-development in ITindustry, Redflag 2000 will gradually increase theapplication in major business sectors and strengthenthe strategic cooperation with Loongson, and tofurther promote the comprehensive solution ofopen source software and Loongson CPU in basiceducation sector and e-Government service sector,for making contributions to enhance self innovativeabilities in IT industry in China.Financial Information ServicesIn 2008, Redflag 2000 achieved relatively significantprogress in technology innovation and product R&D,it successively launched RedOffice4.0 and productsin many other different versions. Meanwhile,Redflag 2000 further strengthened its strategicThe outbreak of the global financial crisis in 2008may make China to be the greatest force todrive up the world economy during the recessionperiod. Facing the global economic crisis andthe uncertainty of the financial market, Chinainvestors should emphasize on rational and prudentinvestments, broadening their view and usingprofessional financial information analysis and datato establish their investment strategies. Financialinstitutions have gradually placed much importanceon the advantages and differences betweendomestic and international real-time professionalmarket information analyses, and the demand forcomprehensive and integrative information analyseswill increase gradually. (Beijing Shihua International FinancialInformation Company Limited) (“Shihua”), asubsidiary of the Company, will take advantage ofthe above opportunity and focus on the demandfor international information by domestic financialinstitutions, through reinforcing its internationalfinancial information services and cooperating withSino-i Technology Limited Annual Report 200805
CHAIRMAN’S STATEMENTmajor stock exchanges around the world, to becomethe first financial information provider in China toprovide market trend data with official authorizationfrom international stock exchanges, and to leaddomestic financial information industry towards theprofessional and international standards. On theother hand, the impact of financial crisis on suchfinancial institutes as banks and securities firms isto reduce their overall expenses on IT outsourcingservices in the short run, which directly affect theoperation results of Shihua.In 2008, “(Shihua Caixun)”, a product andservice brand managed and operated by Shihua,entered into cooperation agreements with majorstock exchanges around the world, and became thefirst financial information provider in China withofficial authorization from various international stockexchanges. The international market data valueaddedservices provided by “Shihua Caixun” includesuch benchmark products as major energy, metal,agricultural products, FX and derivatives in Europeand the US provided by the aforesaid internationalexchanges. The international information valueaddedservices are distributed through i-cube dualmonitor wealth management terminals and a-cubefinancial terminal product series of “Shihua Caixun”.In addition, Shihua has extended its professionaladvantage from corporate market to general publicmarket. “Caixun.com” through its value-addedservices, such as financial information, investmentand wealth management knowledge, wealthmanagement community and analysis reports, andits nationwide marketing campaigns, has graduallygained recognition in the industry.In 2009, Shihua will continue its strategic cooperationwith well-known international financial informationand analysis institutions in the relevant field, with anaim to strengthen its advantage as an authoritativelocal institution. Besides, Shihua will keep improvingand enhancing its ability, and persist to lead thedevelopment of the financial sector in China withinformation analyzing standards that comply withinternational professional standards. The Groupbelieves that these efforts will be accepted by themarket and society.Distance Learning Education ServicesIn 2008, (Beijing Chinese Dadi Distance EducationCompany Limited) (“Chinese Dadi”), a subsidiaryof the Company, made aggressive and effectiveadjustments to its headcount and businessstructures. Chinese Dadi maintained its leadingposition in distance learning education industry andalso recorded continuous growth in the number ofstudents for first time and repeating subscription.Through its comprehensive product mix, wellestablishedlearning support service system,flexible online sales model, close cooperation withexamination centres of Ministry of Education,various local examination institutions and famoustertiary institutions, Chinese Dadi has strengthenedits brand image and facilitated continuous growthin its operating results.06Sino-i Technology Limited Annual Report 2008
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