Two more questions for Longtop

1) Why it quit the outsourcing biz? We know outsourcing is a typically low margin business. Interested readers can look at the VanceInfo (formerly WorkSoft), the first Chinese IT outsourcing company listed in Nasdaq. It did IPO recently. Longtop should not get into the oursourcing business to begin with. I suspect the VCs suggested the […]

Home Inns and Longtop

Home Inns (HMIN) is raising fund through convertible bond (up to) $149 m (reuters news). It seems they still need the cash to expand. Longtop got more analyst converge: Deutsche bank and Jefferies initiated with Buy with target price of $30 and $29, respectively. Quoted here: Deutsche Bank initiates coverage on Longtop Financial Technologies (NYSE: […]