IT services firm ChinaSoft International Ltd. (00354.HK) is bringing the outside in to reverse a slide in gross profit margin and to inspire new growth, the Hong Kong Economic Journal reported Monday, citing chairman and chief executive Chen Yuhong.
Chen said ChinaSoft’s “Joint Force” platform — which it launched last year to manage outsourcing of social, mobile, analytics and cloud services for clients — is expected to make a profit by the end of the year.
The Hong Kong-listed firm breaks down big IT service jobs into smaller tasks which it then outsources to other firms through the Joint Force marketplace-style platform.
Chen said the new strategy has stopped falls in the company’s gross profit margin by raising productivity and ChinaSoft aims to grow both its market value and revenue to more than HK$10 billion (US$1.29 billion) in three to five years.
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