This article only represents the author's own views.
As China's economy slows with no signs of a quick recovery, enterprises have reduced their IT spending, creating challenges for providers of related products and services.
That chill was sending shivers in the form of contracting revenue and profits in the latest financial report from Chinasoft International Ltd. (0354.HK), one of China's largest and oldest IT outsourcing companies with a history dating back to the early 2000s. The company made headlines earlier this year when it revealed in its latest annual report that it slashed its headcount by over 12,000 in 2023.
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