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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of April 2009
Commission File Number 001-33134
| YUCHENG TECHNOLOGIES LIMITED |
| (Translation of registrant’s name into English) |
| |
F9 Tower D, Beijing Global Trade Center, 36 North Third Ring Road East, Dongcheng District Beijing, PRC 100013 |
| (Address of principal executive office) |
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ý Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ¨ No ý
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):
82-__________.
This Form 6-K consists of the following exhibits attached hereto:
1. Press release dated April 2, 2009, relating to Yucheng Deploying a New Credit Management Information System for Fujian Rural Credit Union
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| | YUCHENG TECHNOLOGIES LIMITED | |
| | | | |
| Date: April 2, 2009 | By: | /s/ Remington Hu | |
| | Name: | Remington Hu | |
| | Title: | Chief Financial Officer | |
| | | | |
* Print the name and title under the signature of the signing officer.
EXHIBIT
Exhibit Number Description
1. Press release dated April 2, 2009, relating to Yucheng Deploying a New Credit Management Information System for Fujian Rural Credit Union
Yucheng Deploys a New Credit Management Information System for Fujian Rural Credit Union
BEIJING, April 2, 2009 /PRNewswire-Asia-FirstCall/ -- Yucheng Technologies Limited (NASDAQ: YTEC), a leading provider of IT solutions and services to China's banking industry, today announced the deployment of a Credit Management Information System for Fujian Rural Credit Union(FRCU), a new SMB relationship.
Yucheng will build upon the existing in-house systems to deliver a unified Credit Management Information System (CMIS), which will integrate intrabank data to identify and manage overall credit risk. The brand new CMIS will streamline the credit check process by classifying FRCU's customers into risk classes and transforming raw credit data into intelligent, reliable and consistent credit limit ranges. The CMIS translates the FRCU's credit rules into a strict credit analysis software that will enhance the reliability of loan decision making. By systematizing credit decisions and by limiting a manager's ability to arbitrarily justify loans, the CMIS is expected to dramatically reduce the risk of bad debt, and enhance FRCU's overall profitability .
Mr. Weidong Hong, CEO of Yucheng Technologies stated, "CMIS is a critical, backbone system for FRCU's overall risk management efforts. Via our CMIS, FRCU will gain greater control over asset quality and be able to monitor bank-wide credit risk. We are pleased that FRCU sought our expertise to develop their credit capabilities, and we look forward to expanding their IT capabilities in more business verticals."
Management solutions enable management teams to better understand and evaluate their business on a timely basis. Yucheng has deployed more than 30 CMISs to date. IDC estimates the CMIS demand by financial industry will grow annually at 17.2% from 2008 to 2012.
About Yucheng Technologies Limited
Yucheng Technologies Limited (NASDAQ: YTEC) is a leading IT service provider to the Chinese banking industry. Headquartered in Beijing, China, Yucheng has approximately 2,000 employees and has established an extensive network for serving its banking clients nationwide, with subsidiaries and representative offices in 23 cities. Yucheng provides a comprehensive suite of IT solutions and services to Chinese banks including: (i) Channel Solutions, such as web banking and call centers; (ii) Business Solutions, such as core banking systems, foreign exchange and treasury management; and (iii) Management Solutions, such as risk analytics and business intelligence. Yucheng is also a leading third-party provider of POS merchant acquiring services in partnership with banks in China.
About Fujian Rural Credit Union
Fujian Rural Credit Union (FRCU) was founded in 1999 through the consolidation of more than 80 rural credit unions operating within the province. It is headquartered in Fuzhou, the capital of Fujian province, and has more than 2,000 outlets across Fujian province. FRCU provides a full range of commercial and retail banking services, including RMB deposits, loans, payment services, investment and financing services, debt products and intermediary businesses.
For Further Information
Rebecca Alexander
+1 914 613 3648
+86 10 5913 7998
ralexander@yuchengtech.com
Safe Harbor Statement
This press release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Forward-looking statements generally can be identified by the use of forward-looking terminology, such as ''may,'' ''will,'' ''expect,'' ''intend,'' ''estimate,'' ''anticipate,'' ''believe,'' ''project'' or ''continue'' or the negative thereof or other similar words. Such forward-looking statements, based upon the current beliefs and expectations of Yucheng's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: current dependence on the PRC banking industry demand for the products and services of Yucheng; competition from other service providers in the PRC and international consulting firms; the ability to update and expand product and service offerings; retention and hiring of qualified employees; protection of intellectual property; creating and maintaining quality product offerings; operating a business in the PRC with its changing economic and regulatory environment; and the other relevant risks detailed in Yucheng filings with the Securities and Exchange Commission. The information set forth herein should be read in light of such risks. Yucheng assumes no obligation to update the information contained in this press release.
