In 1998, Jiangsu Nandasoft was established as a joint venture between Nanjing University and an investment company and has since actively developed a systems integration and software-development business.
A year ago, in a market not yet as sophisticated as elsewhere, Nandasoft was instrumental in meeting the online security needs of a rapidly growing mainland Internet community.
The previous year, the company had recorded sales of 160 million yuan (about HK$149 million), mainly from its system-integration business. Net income was 7.41 million yuan.
According to a Core Pacific-Yamaichi report from just under a year ago, 'the business of high value-added software [would] increase in 2001', leading to a considerable growth in Nandasoft's net profit.
The HK$73.2 million raised from the firm's initial public offering would help Nandasoft develop its business, Core Pacific said, placing a 'buy on weakness' recommendation on the stock.
Graphic: THEN18gwz