NETSOL signs strategic agreement with Chinese entities at SCO Summit

TIANJIN, China - NETSOL Technologies, Inc. (NASDAQ:NTWK), a technology company with a market capitalization of $42.62 million and robust financial health according to InvestingPro analysis, signed a strategic cooperation agreement with Tianjin Binhai Smart Group Co., Ltd. and the Dongjiang Free Trade Port Zone Government at the Shanghai Cooperation Organization (SCO) Summit in Tianjin on Friday.

The partnership will focus on integrated financial services for the automotive industry and cross-border data services, according to a company press release.

Amanda Li Linjie, President of NETSOL Technologies China, represented the company at the signing ceremony during the forum’s main session. Chinese Vice Premier and Politburo Standing Committee Member Ding Xuexiang attended the summit and delivered a keynote address on digital economy, artificial intelligence and emerging technologies.

The SCO Summit and Digital Economy Forum brought together political and business leaders alongside technology experts to discuss digital innovation, infrastructure and governance. The SCO is a political, economic and security alliance founded in 2001 to promote mutual cooperation and economic integration across Eurasia.

NETSOL Technologies provides AI-powered solutions enabling OEMs, dealerships and financial institutions to sell, finance and lease assets. The company operates in over 30 countries, primarily serving the automotive and equipment finance sectors. With a healthy current ratio of 2.26 and revenue growth of 9.18% over the last twelve months, NETSOL maintains a strong financial position. InvestingPro subscribers can access 11 additional key insights about NETSOL’s financial performance and growth potential.

Najeeb Ghauri, Founder and CEO of NETSOL Technologies, claimed the collaboration demonstrates the company’s aim to "bridge markets, cultures and economies through technology."

The agreement represents a formal business relationship between the U.S.-based technology company and Chinese government-affiliated entities amid ongoing development of cross-border digital financial services in the region.

In other recent news, NetSol Technologies reported a 13% increase in total net revenues for the third quarter of fiscal year 2025, reaching $17.5 million. This growth was driven by a 24% rise in services revenue and a 10% increase in subscription revenues. Additionally, shareholders approved several key proposals at the company’s annual meeting, including the re-election of board members and the adoption of the 2025 Equity Incentive Plan. NetSol also announced the appointment of Ian Smith, former CEO of BMW Financial Services, to its Board of Directors, bringing extensive leadership experience in financial services. In a strategic move to enhance its market presence, NetSol appointed Richard Howard, a former Daimler executive, to its Advisory Board to guide its growth in North America. The company’s focus on innovation and expansion is further reflected in its recent signing of multimillion-dollar contracts in Oman and Indonesia. These developments highlight NetSol’s commitment to strategic growth and innovation in the digital finance sector.

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