Jingwei International Ltd., a Chinese data mining and software services firm, generated $27.9 million in sales during 2008, up from $24.4 million in 2007. The company’s net income rose from $7.7 million to more than $9 million. The company’s fiscal year ended Dec. 31.
Data mining services took off during 2008, jumping 143% over 2007’s level and accounting for nearly two-thirds of Jingwei’s total revenue. A good chunk of the company’s demand was driven by Chinese telecom firms.
The company anticipates a slowdown in its fortunes, mirroring that of the global economic situation. That said, as 3G infrastructure continues to be rolled out in China, the company expects increased demand for its data mining services. 3G is the third generation of telecommunication hardware standards and general technology for mobile networking.
The Internationalist’s Take: Leave Jingwei aside. Carat, a media communications agency, issued global advertising expenditure forecasts for 2009 and 2010. I’ll spoil the surprise: Every major advertising market was foreseen as having a decline…with the exception of China, which will grow by 4.6% during 2009. The biggest losers? The U.S (down 9.8%) and Spain (plummeting 16.5%). The UK, France and Italy are forecast as having single digit declines in 2009, moving back into positive territory for the following year. Japan is forecast for a -5.5% reduction in spend for 2009. Carat’s forecast did not distinguish between direct marketing and non-direct marketing advertising.
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