(Yicai Global) Dec. 6 -- China National Software & Service's share price jumped after the software developer announced a plan to combine its two operating system subsidiaries, which have a more than 90 percent market share in China, to better meet demand.
The stock [SHA:600536] closed almost 3.6 percent higher today at CNY76.17 (USD10.80), while the benchmark Shanghai Composite Index gained 0.4 percent. The Beijing-based company's shares have more than tripled in value so far this year.
China Standard Software and Tianjin Kylin Information Technology, the two units, have set up working groups to ease their integration, which is progressing smoothly with audit and evaluation agencies joining in, Chief Financial Officer He Wenzhe said at a press conference today.
The move will accelerate the newly merged company's development and strengthen its dominant market position, He said. The combined entity will develop a new flagship OS to meet market demand based on existing technologies, he added.
China National Software is a large high-tech company controlled by central enterprise China Electronics. Its main business includes computer software and internet technology and applications. The company's Kylin OS is compatible with more than six domestic central processing units.