2017-02-27

(Hong Kong, 27 February 2017) Sinosoft Technology Group Limited (“Sinosoft Technology” or the “Company” together with its subsidiaries, the “Group”, HKEx: 1297) is pleased to announce that the Group has entered into a cooperative framework agreement (the “Cooperative Agreement”) with Ant Financial Services Group (the “Ant Financial”) on 24 February 2017. Pursuant to the Cooperative Agreement, the Group will contribute its competencies in government services and low carbon information technology, combining Ant Financial’s core strength in “internet services + open”, to jointly propel new smart city establishment across China, and pioneer green new smart city development.

 

Pursuant to the Cooperative Agreement, in the new smart cities that are jointly established by both parties across China, the Group will be responsible for the implementation of new smart city, service interface and data query etc., while Ant Financial will provide technologies such as real-name authentication, real-person authentication, payment and credit. Ant Financial will also provide services facilitating citizens through its Alipay, as well as offer products such as Zhima

Credit Score and Zhima Authentication to relevant government clients. On the other hand, the Group will leverage on its competences in low carbon informatization, to integrate Ant Financial’s products including Ant Forest, and develop innovative internet-based ecological applications, so as to pioneer green new smart city development.

 

The management of Sinosoft Technology believes this Cooperative Agreement will enlarge the area of cooperation in new smart city, leveraging on the foundation of the quartet strategic cooperative framework agreement which the Group entered with Ant Financial, Alibaba Cloud and Zhenjiang People’s Government in November 2016. As China plans to launch 100 new smart city pilots during its 13th Five Year Plan (2016 to 2020), the Group will intensify its collaboration with Ant Financial, to make Zhenjiang a sample city, and then jointly promote to other new smart city pilots in Jiangsu and across China, so as to establish convenient and efficient government service platform, and bring about prosperous business opportunities for both parties. In the meantime, both parties will develop internet-based ecological applications on top of the foundation of new smart city and pioneer the green new smart city development. This will not only help different local governments to achieve energy saving and emission reduction, but also expand relevant products and revenue streams for the Group and Ant Financial.