Shares digital

China-based Geong International (GNG:AIM) has clinched four annual maintenance contracts in China’s financial services sector worth $1.2 million, sending shares in the company up 2% to 66.5p.

The first and largest contract has been secured with the Bank of Shanghai and is valued at $520,000. Through the contract, Geong will provide annual maintenance of the bank’s enterprise information portal (EIP) and e-business website.

Valued at $280,000, the second contract involves maintaining the Bank of Communication’s EIP until September, while the third deal concerns maintaining China Construction Bank’s EIP and internet banking system until October, and is worth $200,000. Finally, the group has won a contract with Haitong Securities, worth $200,000, to maintain its e-trading website until next January.

‘The Financial Services Industry in China is experiencing rapid and continued growth, and is another sector where we have a very strong presence,’ says chief executive, WeidongWang. ‘These contracts demonstrate the continued confidence the leading companies within the industry have in the products and services Geong provides.’

Shares says: Growth potential remains strong.