The Group is an IT solutions and software applications developer based in China through its subsidiary, Guangzhou Yitian Huatong Technology Corpn Ltd (Huatong). Established in 1993, Huatong's core businesses are in customised software development and enterprise resource planning (ERP) implementation, e-Commerce services, distribution and sale of computer software, maintenance and upgrading services and distribution and sale of computer hardware/systems integration. The Company is incorporated in Bermuda in 2000. It is an investment holding compsany.
As at mid 2000, more than 95 percent of its turnover are derived from sales in Guangdong province. The Group plans to increase its market coverage in Chona by establishing offices in Beijing, Shanghai and Hong Kong.
FY00 Turnover ERP and other customised software 71%,e-commerce services 10.7%, sales
of standardised software applications 6.3%, other 12%.
Despite sales increase by 22%, 1HFY01 profit rose only 8% due to lower selling prices for its ERP
and customised software segment. Cytech software limited expects a lower 2H01, hence lower FY01 earning.
(wef : 28/09/01) |
