In the first two months of 2009, software industry achieved operating revenue of Rmb126.1bn (+20.8% yoy), with acceleration down by 7.9ppt yoy. Negative impact from sluggish macro-economy had been emerged since Q4 2008; from October 2008, year-on-year monthly accumulated income of software industry had maintained successive decline.
We hold optimistic view on the overall performance of software and hardware sector in April and concern about listed companies with potential sustained high growth in 2009 such as QiMing Information Technology (002232), Beijing Shiji Info Technology (002153) and China National Software & Service (600536) themed asset injection as well.