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Haochen Technology Backed Up by 2 Million RMB Government Investment

Suzhou Haochen Technology Development Co., Ltd., a leading CAD software enterprise in SIP International Technology Park, announced on Dec. 22 that the company obtained investment from Suzhou Technology Venture Investment Co. at the signing ceremony held in the Park with in the presence of the leaders of Suzhou Municipal Bureau of Science and Technology and SIP Bureau of Technology.

The investment amounts of 2 million RMB represents an important act in the province following the announcement of the national "11th 5-year plan". Mr. Hu Lixin, Chairman of Suzhou Haochen Technology Development Co., Ltd., said, "The short-term goal of our company is to leave our competitors behind, while our medium-term aim is to overtake AutoCAD and to provide a world-leading CAD platform for Chinese designers." In predicting for the future development, General Manager Lu Xiang of the company said: "Huge investment will be put into research and development in 2006, and plans are already made to expand the office area by 1,000 sq.m. in SIP Technology Park and recruiting another 100 system analysts and senior programmers, for the task to tackle with the key technology in CAD platform. The R&D and industrialization of ICAD platform by Haochen, which is in line with the national industrial policies of encouraging self-relied innovations and intellectual property rights protection, will have wide prospect for market development."

Suzhou Haochen Technology Development Co., Ltd. is a well-known software enterprise in the field of CAD in China, with widespread sales of software products across the country. It is an enterprise favored and supported by SIP, Suzhou Municipal Bureau of Science and Technology, and Jiangsu Provincial Bureau of Science and Technology.

Dec. 23, 2005

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