Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Geong International Limited (GNG)

  Print      Mail a friend

Wednesday 22 February, 2012

Geong International Limited

Trading Statement

                                                               22 February 2012

                          GEONG International Limited                          

                          ("GEONG" or the "Company")                           

                               Trading statement                               

GEONG International Limited (AIM: GNG), a leading Internet software solutions
provider and operator for large enterprises in China, is pleased to present the
following trading statement for the nine months ended 31 December 2011.

Total revenues for the period were marginally lower than in the same period
last year at approximately £7.6m, of which £2.8m was generated in the three
months ended 31 December 2011 a pro-rata increase of 17% over the £4.8m in the
previous six months. SaaS business accounted for 21% of total revenue or £1.6m
in the nine months, of which £0.5m, approximately the same level as in each of
the previous 3 month periods, was in the three months to 31 December 2011. SaaS
revenue comprises two elements, being the monthly fixed charges to our
customers and the performance related fees which are dependent on the increased
level of the customers' business performance, with the majority of the latter
arising in the fourth trading quarter, ie after the calendar year end.
Accordingly, we anticipate that the current quarter will therefore see SaaS
revenue being significantly higher than in the previous three quarters.

As at 31 December 2011, amounts due from customers were £17.3m, comprising £
4.4m invoiced trade receivables and £12.9m of accrued income, down from £5.3m
and £13.2m respectively, as at 30 September 2011.

In the period from 30 September 2011 to 31 December 2011, accrued income
increased by £2.4m as a result of services provided which have not yet been
invoiced and reduced by £2.7m as a result of previously accrued income which
has now been invoiced. Furthermore, £0.5m of new business has been invoiced to
customers and £1.9m, 59% of the invoiced amounts' has already been collected in
the period to 31 December 2011 in accordance with its payment terms. Total
collections, including previously invoiced amounts, totalled £4.1m in the
quarter to 31 December 2011 and the cash balance at that date was £6.1m.

Investors should expect accrued income to continue to represent a relatively
large proportion of amounts due from customers as this arises from our efforts
to manage our cash flows most effectively. Many of our major customers, as is
common in the PRC, settle invoices from suppliers only on an annual or,
sometimes, semi-annual basis. However, business enterprises are required to
account for and pay both business tax and VAT in the month following the issue
of invoice. We therefore seek to manage the timing of our invoices so that they
are rendered as closely as possible to coincide with the payment cycle of our
customers in order to reduce to a minimum the levels of unrecovered business
tax and VAT that we have paid. Moreover, in China, unlike the UK, business tax
and VAT on bad debts is not recoverable and, although GEONG has experienced a
very low incidence of bad debts, by delaying invoicing until near the payment
date collectability is better assured.

Your board is pleased with the continued steady progress and, with a current
order book of approximately £14m (slightly reduced as the business activities
move more towards the short-term SaaS business and away from the longer-term
Iaas business), is confident of a satisfactory outcome for the full year
despite the onset of a less certain economic environment in China.

The Company expects to give a full year trading update in mid June 2012 with
the results scheduled to be announced during the second half of July 2012.

For further information, please contact:

GEONG International Limited      Tel: +86 10 5222 0999
Henry Tse, Chairman
Weidong Wang, CEO
Amit Thakar, CFO

Evolution Securities Limited                   Tel: +44 20 7071 4300           
(Nominated Adviser and Joint Broker)                                           
Tim Worlledge                                                                  
Esther Lee                                                                     

About GEONG International Limited

GEONG is recognised as a leading independent Internet software solutions
provider and operator for large enterprises in China.

Registered in Jersey, the Company's operations are headquartered in Beijing,
China. GEONG International Ltd. (GEONG or the Company) has been quoted on the
London Stock Exchange (LSE AIM: GNG.L) since June 2006. The Company has since
transformed from an ECM (Enterprise Content Management) software and service
centric business to an internet business centric company and both revenues and
profits have almost trebled over the last six years.

GEONG is an internet solutions and service software company managed by a world
class management and professional team who collectively own 26% of the
business. The Company's mission is to help its clients to improve their
business efficiency and customer satisfaction through smarter internet

For more information, please visit

a d v e r t i s e m e n t