Beijing Gintel Technology Co., Ltd. recently announced the company has received a total RMB50M venture capital from Sino H&B Private Equity Fund Co., Ltd. (hereinafter referred to as Sino H&B). The company revealed that both parties had signed Cooperation Agreement in March 2008, but both parties declined to disclose more information about this cooperation.

Gintel Technology is a typical technology-based start-up company. Reportedly, most of its R&D team members come from Xi'an University of Electronic Science and Technology and they use the University's Communications Laboratory as technology support. Currently, Gintel Technology has successfully developed EPASS & EWEBS series products. It is the first time a domestic company developed these serial products; therefore the company attained several state-level technological patents. These serial products help the company win two national special funds' support, 14 awards in China's software industry as well as six unique software qualifications.

Mr. Dongya Shao, Sino H&B President, said they have seldom invested in IT industries before investing in Gintel Technology. Sino H&B looks well of the booming prospects of virtual application market demand in China. And this is also a major factor that contributed to the deal closing.