Hua-Ping shares proposed and signed China Life Video terminal purchase and sale contract

NetEase Finance September 28, the shares of the Tuesday, said the announcement, the company and China Life on the "Integrated high-definition video terminal equipment purchase and sale of the contract" to reach agreement on all the provisions of the two sides entered into the contracts signed process, is expected to be in early October 2010 to obtain the formal signing of the contract. Warburg Pincus said the company had reached agreement with China Life Insurance Co., Ltd. on September 7, 2010, on the entire terms of the contract for the purchase and sale of integrated HD video terminals, and the two parties entered into the signing process, and the company has signed the contract and sent it to China Life Insurance Company Limited, so far　　China Life Insurance Co., Ltd. has not yet submitted the original contract signed to the company. The announcement shows that the integration of HD video terminal equipment purchase and sale contract amount of 13.19 million yuan, China Life is the maximum of three times to the company to pay the total amount of the contract.　　The first payment is 20% of the contract, the second one is 70% and the third is 10% of the contract.　　The company is currently preparing to carry out the contract and is expected to obtain the formal signature of the contract in early October 2010, according to the business engagement with China Life Insurance Company Limited and the progress in tendering for the equipment of other companies related to the contract, said Warburg.　　According to the project schedule, the contract is expected to achieve full revenue by 2010, which will have a positive impact on the company's 2010 annual performance.　　In the first half of 2010, the company achieved sales revenue of 21.9999 million yuan, a decline of 50.61% in the same period last year, a profit of 3.6381 million yuan, down 76.6% from the same period last year. The securities analysis believes that the company's IPO when the majority of funds have not been used, for the follow-up through the expansion of the acquisition to provide a strong guarantee.　　To give the company 2011 45 times Times PE, the target price of 94.5 yuan, for the first time to "overweight a" investment rating. Related reading: Recent market rumors Shanghai Hua Ping Information Technology Co., Ltd. will sign a contract with the relevant major customers, the contract amount of more than 60 million yuan.