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TTravelSky Technology Limited (the "Company" or, including its subsidiaries, the "Group") as a member enterprise of China TravelSky Holding Company (the "Holding Company") is the leading provider of information technology solutions for China's air travel and tourism industries. The Company has been devoted to developing leading edge applications and services that address the needs of a wide range of industry participants - ranging from airlines, airports and air travel suppliers to travel agencies, corporate travel consumers, air travel consumers and cargo shippers - to conduct electronic transactions and manage travel-related information.
The Company's aviation information technology ("AIT") services, which consist of series of products and solutions, are provided to Chinese commercial airlines and more than 300 foreign and regional commercial airlines. The AIT services comprise electronic travel distribution ("ETD") service (including Inventory Control System ("ICS") service, Computer Reservation System ("CRS") service) and Airport Passenger Processing ("APP") service, as well as other extended information technology solutions related to the above core businesses, including but not limited to, data service to support decisions of commercial airlines, product service to support aviation alliance, solutions for developing commercial airlines' e-ticket and e-commerce as well as information management system to improve ground operational efficiency of commercial airlines and airports.
As the dominant supplier of information technology solutions in the PRC aviation and travel industry, the Company's ETD system processed approximately 200.0 million bookings on domestic and overseas commercial airlines in 2007.amoug that ,lectronic tickets sold amounted to approximately 152.1 million segments. the Company's self-developed new generation APP (NewAPP) front system was further installed in several domestic airports including Beijing Capital Airport and Pudong Airport in Shanghai. As a result, 50 domestic airports are now using the Company's NewAPP front system, which helped establish its leading position at domestic large and medium airports. In 2007, overseas and regional commercial airlines using the Company's APP systems increased to 37. With the technology support by the Company in 2007, China Southern Airlines Company Limited respectively joined Star Alliance , Air China Limited and Shanghai Airlines Company Limited joined SkyTeam smoothly.The Group's travel distribution network comprises approximately 52.4 thousand sales terminals owned by more than 6,500 travel agencies or travel service distributors, with high-level networking and direct links to all GDS around the world and 57 foreign and regional commercial airlines through SITA networks, covering over 400 domestic and overseas cities. The Group rendered technology support and localised services to travel agencies and travel service distributors through more than 30 local distribution centers across China and four overseas distribution centers in Hong Kong, Singapore, Japan and South Korea.
In 2007, the Group kept perfecting the hotel distribution system to actively cooperate with the upstream travel product providers and the downstream travel service distributors. Throughout the year, the Company successfully distributed 429 thousand hotels' roomnights, capturing opportunities airing from the increasing demands for China's aviation information safety, the Group proactively expanded its information technology integration service to promote its business in the field.
On the January 1, 2001, InfoSky - the joint venture between the Company and SITA commenced operation. In the past several years, InfoSky introduced and developed a series of creative technical products for air logistics enterprise such as airlines, airport cargo terminals, freight forwarders and logistics service providers etc.
The H shares of the Company were listed on the Stock Exchange of Hong Kong Limited (the "Stock Exchange") on February 7, 2001, trade code 0696, and the net proceeds from the issuance of H shares amounted to approximately HK$ 1.2 billion. After the company was listed, we received much recognition from investors and were ranked 'Best Run' by Hong Kong Exchange.
In 2001, a total of 8 listed company include TravelSky were awarded as the 200 best small-scale enterprises in the world by Forbs. 2002, TravelSky was nominated as one of the Deloitte Touche Tohmastsu Technology Fast 500, with the net income increase rate of 38%, TravelSky was ranked 218th in the list. By the end of 2002, The Sponsored Level 1 American depositary receipt programme of the Company was approved by the United States Securities and Exchange Commission.
Through five to ten years unsparing efforts and continuous endeavors, we are confident that Travelsky will became the leading information technology and service provider for air travel and tourism industries, and thereon develop into one of the first rate world-class players based on the current leading position in Asia.
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