Chinese management software solutions provider UFIDA Software has published its annual financial report for 2008, which states that it made revenue of CNY1.726 billion, a year-on-year increase of 27.18%.

At the same time, its profit reached CNY468 million in the period, increasing 20.7% compared with the same period of 2007. The company attributed the profit growth to the sales boost in its mid-range business.

The report shows that in 2008, UFIDA Software's basic earnings per share was CNY0.85; the gross margin of its software sector decreased by 1.24% to 87.46%; and the gross margin of its software ancillary supplies increased by 12.84% to 21.04%.

UFIDA Software said in the financial report that it will seek suitable merger and acquisition targets in 2009 and these targets will mainly be its competitors and companies whose businesses are complementary to those of UFIDA Software.