Yucheng Announces Auditor Change Within BDO Network
BEIJING, Dec. 30, 2011 /PRNewswire-Asia-FirstCall/ – Yucheng Technologies Limited (NASDAQ: YTEC) today announced that on December 30, 2011 the Company engaged BDO China Shu Lun Pan CPAs LLP ("BDO China"), the China-based member of BDO International Ltd., as its independent registered public accounting firm, replacing BDO Limited, the Hong Kong member of BDO International Ltd. ("BDO HK"), which resigned on December 30, 2011. The Company believes the transition from BDO HK to BDO China will be smooth and will not adversely affect the Company's upcoming audit.
The decision to change auditors was not the result of any disagreements between the Company and BDO Hong Kong on any matters of accounting principles or practices, financial statement disclosure or auditing scope or procedures. The Company understands BDO Hong Kong's resignation is not related in any way to the affairs of the Company but purely a business decision of BDO Hong Kong.
About Yucheng Technologies Limited
Yucheng Technologies Limited (NASDAQ:YTEC) is a leading IT service provider to the Chinese financial service providers. Headquartered in Beijing, China, Yucheng services clients from its nationwide network with approximately 2,600 employees. Yucheng provides a comprehensive suite of IT solutions to Chinese Banks including: (i) Channel Solutions, such as e-banking and call centers; (ii) Business Solutions, such as core banking systems and loan management; and (iii) Management Solutions, such as risk analytics and business intelligence. Yucheng has been ranked in the Global FinTech 100 survey of top technology partners to the financial services industry for in 2007, 2008, and 2009. The independent research firm IDC also has named Yucheng the No. 1 market share leader in China's Banking IT solution market in 2010. For more information about Yucheng Technologies Limited, please visit www.yuchengtech.com.For investor and media inquiries, please contact: In China: Mr. Steve DaiYucheng Technologies LimitedTel: +86-10-5913-7889Email: firstname.lastname@example.org SOURCE Yucheng Technologies Limited
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