Guo Wei, president of Digital China, has told local media that Digital China has split its IT services from its listed company and hopes to have it re-listed on the A-share market within five years.
Guo says that Digital China took the move to have the IT service listed independently. However, since only companies that have operated independently for over three years are eligible to be listed, their IT service is scheduled to be listed in five years.
In 2007, Digital China completed a major capital adjustment which made the company's share structure more balanced and reasonable. On May 20, 2008, Digital China reached a letter of intent with Suzhou Ventures Group and set up a JV with the company to specially develop IT services. Guo says that the company's IT service group will have about two rounds of private financing in the future to introduce strategic investors, who are ideally international private equities with research and development capacities and capable of providing solutions.
Digital China's 2007-2008 report shows that the company's IT service group's income reached HKD4.623 billion in the period, with a net profit of HKD47 million.