BEIJING,, Aug. 7, 2012 /PRNewswire-Asia/ -- Yucheng
Technology Limited (Yucheng) (NASDAQ: YTEC), a leading IT
service provider to the Chinese banking industry, today announced
that industry research firm IDC has named it No. 1 Banking IT
solution provider in China in
calendar year 2011 for the second year in a row, with market share
increasing to 5.4% from 5.2% in 2011.
Detailed Highlights:
- Yucheng was ranked No. 1 IT solution provider by revenues and
by market shares for the second year in a row.
- Yucheng maintained No.2 in Management Solutions with market
share of 6.9% and improved its position in Channel Solutions from
No. 2 to No. 1 with market share of 8.1%.
- Yucheng maintained No.1 ranking for E-Banking Solutions, Loan
Management Solutions, Call Center Solutions and Business
Intelligence Solutions with market share of 17.7%, 10.1%, 14.8%,
and 13.8% respectively; and improved Risk Management Solutions to
No. 1 position with market share of 6.6%.
- Yucheng also achieved No. 2 rankings in Customer Relationship
Management Solutions with market share of 9.2%.
"We are pleased with the latest rankings from IDC that indicate
our company continues to prosper in this highly competitive
industry through our constant focus on providing high quality
solutions and services. We maintained the top ranking in our
strongest solution in e-banking while gained in several fast
growing solutions such as loan management and business intelligence
and risk management," said Weidong
Hong, Chief Executive Officer of Yucheng. "According to the
IDC estimate, the industry will grow at the CAGR of 20.0% for the
next five years. Being the top player in a very competitive yet
more rational industry than in the past, we are confident we will
continue to gain market share and strive to maintain our top
position in the industry."
About Yucheng Technologies Limited
Yucheng Technologies Limited (NASDAQ:YTEC) is a leading IT
service provider to the Chinese financial service providers.
Headquartered in Beijing, China,
Yucheng services clients from its nationwide network with
approximately 2,800 employees. Yucheng provides a comprehensive
suite of IT solutions to Chinese Banks including: (i) Channel
Solutions, such as E-Banking, Teller Systems, and Call Centers;
(ii) Business Solutions, such as Core Banking Systems and Loan
Management; and (iii) Management Solutions, such as Risk Analytics
and Business Intelligence. The independent research firm IDC named
Yucheng the No. 1 market share leader in China's Banking IT solution market in 2010 and
2011. For more information about Yucheng Technologies Limited,
please visit www.yuchengtech.com.
Safe Harbor Statement
This press release includes forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 that involve risks and uncertainties.
Forward-looking statements are statements that are not historical
facts. Forward-looking statements generally can be
identified by the use of forward-looking terminology, such as '
may,'' ''will,'' ''expect,'' ''intend,'' ''estimate,''
''anticipate,'' ''believe,''''project'' or ''continue'' or the
negative thereof or other similar words. Such
forward-looking statements, based upon the current beliefs and
expectations of Yucheng's management, are subject to risks and
uncertainties, which could cause actual results to differ from the
forward looking statements. The following factors,
among others, could cause actual results to differ from those set
forth in the forward-looking statements: current dependence on the
PRC banking industry demand for the products and services of
Yucheng; competition from other service providers in the PRC and
international consulting firms; the ability to update and expand
product and service offerings; retention and hiring of qualified
employees; protection of intellectual property; creating and
maintaining quality product offerings; operating a business in the
PRC with its changing economic and regulatory environment; and the
other relevant risks detailed in Yucheng filings with the
Securities and Exchange Commission. The information set
forth herein should be read in light of such risks. Yucheng assumes
no obligation to update the information contained in this press
release.
For Further Information
Steve Dai
+86 10 5913 7889
+86 10 5913 7700
investors@yuchengtech.com
SOURCE Yucheng Technologies Limited
