This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

NetSol Technologies Completes Leasing Software Implementation With Chongqing Auto Finance

Stocks in this article: NTWK

CALABASAS, Calif., Sept. 18, 2012 (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. (Nasdaq:NTWK), a provider of global IT and enterprise application solutions, today announced that Chongqing Auto Finance Co., Ltd. (CQAFC)—West China's first non-captive China Banking Regulatory Commission-approved auto finance company to conduct leasing of various auto brands and models—has gone live with the entire NetSol Finance Suite (NFS™).

The agreement includes the license, full implementation and maintenance of NFS™, including the Credit Application Processing System, Contract Management System and Wholesale Finance System. NetSol completed the implementation on schedule in four months.

At the opening ceremony, attended by the Mayor of Chongqing, the legal representative and others, Chairman of Chongqing Auto Finance Co., Ltd (CQAFC), Mr. Li Bo, said, "We are confident that we have made the right choice in selecting NetSol as our long term partner to achieve our future business goals."

"We congratulate and wish all our best to CQAFC for becoming a pioneer state-owned company in west China," said Naeem Ghauri, NetSol's president and head of global sales. "Going live is among the initial steps of our long-term partnership.  NetSol will support CQ for all future endeavors in becoming a leading auto financing company in China."

With extensive investment in research and development and more than fourteen years of finance industry knowledge and business domain experience in the Asia Pacific region, NFS™ presently is the preferred solution for asset leasing and financing.

To date, NetSol has more than ten successful implementations with companies licensed by the China Banking Regulatory Commission.

About Chongqi ng Auto Finance

Initiated by Chongqing's most powerful and representative institutions, Qingling Motor (Group) Co., Ltd., Chongqing Yufu Assets Management Group Co., Ltd. and Chongqing Rural Commercial Bank (CRCB), CQAFC will be a state-owned nonbank financial institution registered in Chongqing. The company's initial registered capital is 500 million RMB. CQAFC, the first auto finance company in western China, is also the first innovative auto finance company that can provide financial services for all auto manufacturers, auto distributors and auto consumers in terms of the sales link and consumptive link in the auto industry's supply chain.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs