Upgraded from hold to buy.

growth

Market Perform - Price 14.10 on Nov. 6
by Avondale Partners
Our 20.40 price target is based on 30 times our 2008 EPS estimate of 68 cents. We believe YTEC can support this multiple, given its growth prospects, projected earnings-growth rate of 40% and increasing visibility...We expect YTEC's margins to expand as its business mix transitions to higher-margin solutions like Web banking and outsourcing.

Banking, China, 100,000 new accounts opened daily. Someone has to help them kep up with the growth

New to Nasdaq as of March 14, 2007
Yucheng Technologies Ltd. (Nasdaq: YTEC; YTECW) is an IT solution and services provider to the Chinese banking industry. Headquartered in Beijing, China, Yucheng has established an extensive footprint to serve its banking clients nationwide with five subsidiaries and representative offices located in Shanghai, Guangzhou, Xi'an, Xiamen, and Chengdu. Yucheng currently has more than 660 employees across China. Yucheng provides a comprehensive suite of IT solutions and services to Chinese banks ranging from system integration and IT consulting, to IT solutions, software platform, and outsourced operations. Yucheng counts 12 out of the 15 top local commercial banks in China as its customers, and is especially strong in banking channel management IT solution and services, such as web banking and call centers. It has the largest market share in the web banking application market in China by user base according to a third party research report. Most recently, Yucheng made a strategic investment to provide risk management services to meet its clients' growing demand in this area driven by its profit conscientiousness and Basil Accord II compliance. Yucheng is ranked one of the top five IT solution providers, along with IBM and Digital China by IDC's "China Banking Industry IT Solution 2006-2010 Forecast and Analysis" report released in September 2006. Yucheng management team consists of industry veterans with extensive experience in serving the Chinese banking industry.