forthright

VanceInfoTechnologies,Inc.文思信息技术有限公司isdedicatedtoconducting

an

obligationtoouremployees,shareholders,customers,suppliers,community

reprentativesandotherbusinesscontactstobehonest,fairandforthrightinallofour

delinestoutinthisCodearetobefollowedatalllevelsof

thisorganizationbyourdirectors,onthemtoupholdour

corevaluesandconductourbusinesshonestly,fairlyandwithintegrity.

CodeofBusinessConductandEthics

e

ThisCodeofBusinessConductandEthicscontainsgeneralguidelinesfor

conductingthebusinessoftheCompanyconsistentwiththehigheststandardsofbusiness

xtentthisCoderequiresahigherstandardthanrequiredbycommercial

practiceorapplicablelaws,rulesorregulations,weadheretothehigherstandards.

ThisCodeappliestoallofourdirectors,rtoall

personscoveredbythisCodeas“Companyemployees”orsimply“employees.”Wealso

refertoourprincipalfinancialofficerandourcontrollerasour“principalfinancial

officers.”

gHelpandInformation

ThisCodeisnotintendedtobeacomprehensiverulebookandcannotaddress

eeluncomfortableaboutasituationorhaveany

doubtsaboutwhetheritisconsistentwiththeCompany’thicalstandards,ekhelp.

supervisorcannot

answeryourquestionorifyoudonotfeelcomfortablecontactingyoursupervisor,

contactVivianZouattheLegalDepartmentviavzou@+86(10)8282

5266*8872.

ingViolationsoftheCode

Allemployeeshaveadutytoreportanyknownorsuspectedviolationofthis

Code,includinganyviolationofthelaws,rules,regulationsorpoliciesthatapplytothe

nowoforsuspectaviolationofthisCode,immediatelyreportthe

pervisorwillcontacttheLegalDepartment,which

onotfeel

comfortablereportingtheconducttoyoursupervisororyoudonotgetasatisfactory

respon,youmaycontactVivianZouattheLegalDepartmentviavzou@

or+86(10)82825266*ortsofknownorsuspectedviolationsofthe

pervisor,the

LegalDepartmentandtheCompanywillprotectyourconfidentialitytotheextent

possible,consistentwithlawandtheCompany’sneedtoinvestigateyourconcern.

ItisCompanypolicythatanyemployeewhoviolatesthisCodewillbesubjectto

appropriatediscipline,

determinationwillbebaduponthefactsandcircumstancesofeachparticularsituation.

AnemployeeaccudofviolatingthisCodewillbegivenanopportunitytoprenthisor

herversionoftheeventsatissuepriortoanydeterminationofappropriatediscipline.

EmployeeswhoviolatethelaworthisCodemayexpothemlvestosubstantialcivil

damages,panymayalsofacesubstantialfines

andpenaltiesandmanyincurdamagetoitsreputationandstandinginthecommunity.

YourconductasareprentativeoftheCompany,ifitdoesnotcomplywiththelawor

withthisCode,canresultinriousconquencesforbothyouandtheCompany.

AgainstRetaliation

TheCompanyprohibitsretaliationagainstanemployeewho,ingoodfaith,eks

risalorretaliationagainstan

employeebecautheemployee,ingoodfaith,soughthelporfiledareportwillbe

subjecttodisciplinaryaction,includingpotentialterminationofemployment.

softheCode

WaiversofthisCodeforemployeesmaybemadeonlybyanexecutiveofficerof

verofthisCodeforourdirectors,executiveofficersorother

principalfinancialofficersmaybemadeonlybyourBoardofDirectorsorthe

appropriatecommitteeofourBoardofDirectorsandwillbedisclodtothepublicas

requiredbylawortherulesoftheNewYorkStockExchange.

ConflictsofInterest

fyingPotentialConflictsofInterest

Aconflictofinterestcanoccurwhenanemployee’sprivateinterestinterferes,or

appearstointerfere,uldavoidany

privateinterestthatinfluencesyourabilitytoactintheinterestsoftheCompanyorthat

makesitdifficulttoperformyourworkobjectivelyandeffectively.

followingsituationsareexamplesofconflictsofinterest:

•oyeeshouldbeemployedby,rveasadirector

of,orprovideanyrvicesnotinhis/hercapacityasaCompanyemployee

toacompanythatisamaterialcustomer,supplierorcompetitorofthe

Company.

•oyeeshouldobtainanymaterial(asto

himorher)personalbenefitsorfavorsbecauofhisorherpositionwith

e“GiftsandEntertainment”belowforadditional

guidelinesinthisarea.

SH11997.22

•oyeeshouldhaveasignificantfinancialinterest

(ownershiporotherwi)inanycompanythatisamaterialcustomer,

supplierorcompetitoroftheCompany.A“significantfinancialinterest”

means(i)ownershipofgreaterthan1%oftheequityofamaterial

customer,supplierorcompetitoror(ii)aninvestmentinamaterial

customer,supplierorcompetitorthatreprentsmorethan5%ofthetotal

astsoftheemployee.

•oyeeshouldobtainloansor

guaranteesofpersonalobligationsfrom,orenterintoanyotherpersonal

financialtransactionwith,anycompanythatisamaterialcustomer,

idelinedoesnotprohibit

arms-lengthtransactionswithbanks,brokeragefirmsorotherfinancial

institutions.

•oyeeshouldrveonaboardof

directorsortrusteesoronacommitteeofanyentity(whetherprofitor

not-for-profit)whointerestsreasonablywouldbeexpectedtoconflict

withthooftheCompany.

•ionsoffamilymembersoutsidethe

workplacemayalsogiveritotheconflictsofinterestdescribedabove

becautheymayinfluenceanemployee’sobjectivityinmakingdecisions

posofthisCode,“familymembers”

includeyourspouorlife-partner,brothers,sistersandparents,in-laws

andchildrenwhethersuchrelationshipsarebybloodoradoption.

Ifyouareuncertainwhetheraparticularcompanyisamaterialcustomer,

supplierorcompetitor,pleacontacttheLegalDepartmentforassistance.

sureofConflictsofInterest

TheCompanyrequiresthatemployeesdiscloanysituationsthatreasonably

uspectthatyouhavea

conflictofinterest,orsomethingthatotherscouldreasonablyperceiveasaconflictof

interest,pervisor

andtheLegalDepartmentwillworkwithyoutodeterminewhetheryouhaveaconflict

ofinterestand,ifso,ghconflictsofinterestarenot

automaticallyprohibited,theyarenotdesirableandmayonlybewaivedasdescribedin

“WaiversoftheCode”above.

CorporateOpportunities

AsanemployeeoftheCompany,youhaveanobligationtoadvancethe

Company’iscoverorare

prentedwithabusinessopportunitythroughtheuofcorporateproperty,information

orbecauofyourpositionwiththeCompany,youshouldfirstprentthebusiness

opportunitytotheCompanybeforepursuingtheopportunityinyourindividualcapacity.

Noemployeemayucorporateproperty,informationorhisorherpositionwiththe

CompanyforpersonalgainorshouldcompetewiththeCompany.

Youshoulddisclotoyoursupervisorthetermsandconditionsofeachbusiness

pervisorwillcontact

theLegalDepartmentandtheappropriatemanagementpersonneltodeterminewhether

ompanywaivesitsright

topursuethebusinessopportunity,youmaypursuethebusinessopportunityonthesame

termsandconditionsasoriginallypropodandconsistentwiththeotherethical

guidelinestforthinthisCode.

ConfidentialInformation

Employeeshaveaccesstoavarietyofconfidentialinformationwhileemployedat

entialinformationincludesallnon-publicinformationthatmightbe

ofutocompetitors,or,ifdisclod,harmfultotheCompanyoritscustomers.

EmployeeshaveadutytosafeguardallconfidentialinformationoftheCompanyorthird

partieswithwhichtheCompanyconductsbusiness,exceptwhendisclosureisauthorized

oyee’sobligationtoprotectconfidentialinformation

orizeddisclosureofconfidential

informationcouldcaucompetitiveharmtotheCompanyoritscustomersandcould

resultinlegalliabilitytoyouandtheCompany.

AnyquestionsorconcernsregardingwhetherdisclosureofCompanyinformation

islegallymandatedshouldbepromptlyreferredtotheLegalDepartment.

CompetitionandFairDealing

Allemployeesshouldendeavortodealfairlywithfellowemployeesandwiththe

Company’scustomers,eesshouldnottakeunfair

advantageofanyonethroughmanipulation,concealment,abuofprivilegedinformation,

misreprentationofmaterialfactsoranyotherunfair-dealingpractice.

ProtectionandUofCompanyAsts

EmployeesshouldprotecttheCompany’sastsandensuretheirefficientufor

,carelessnessandwastehaveadirectimpacton

theCompany’ofCompanyfundsorasts,whetherornotfor

personalgain,foranyunlawfulorimproperpurpoisprohibited.

ToensuretheprotectionandproperuoftheCompany’sasts,eachemployee

should:

•Exercireasonablecaretopreventtheft,damageormisuofCompany

property.

•Reporttheactualorsuspectedtheft,damageormisuofCompanypropertyto

asupervisor.

•UtheCompany’stelephonesystem,otherelectroniccommunicationrvices,

writtenmaterialsandotherpropertyprimarilyforbusiness-related

purpos.

•Safeguardallelectronicprograms,data,communicationsandwrittenmaterials

frominadvertentaccessbyothers.

•UCompanypropertyonlyforlegitimatebusinesspurpos,asauthorizedin

connectionwithyourjobresponsibilities.

EmployeesshouldbeawarethatCompanypropertyincludesalldataand

communicationstransmittedorreceivedtoorby,orcontainedin,theCompany’s

ypropertyalsoincludesallwritten

eesandotherursofthispropertyshouldhavenoexpectation

xtentpermittedbylaw,

theCompanyhastheability,andrervestheright,tomonitorallelectronicand

ommunicationsmayalsobesubjecttodisclosureto

lawenforcementorgovernmentofficials.

GiftsandEntertainment

riate

businessgiftsandentertainmentarewelcomecourtesiesdesignedtobuildrelationships

r,giftsandentertainmentshould

nevercompromi,orappeartocompromi,yourabilitytomakeobjectiveandfair

businessdecisions.

generalrule,employeesmaygiveorreceivegiftsorentertainmenttoorfromcustomers

orsuppliersonlyifthegiftorentertainmentcouldnotbeviewedasaninducementtoany

tsandentertainmentexpensmadeonbehalfofthe

Companymustbeproperlyaccountedforonexpenreports.

urageemployeestosubmit

tisnotmandatorytosubmitsmallgifts,giftsof

overUS$25(RMB190)mustbesubmittedimmediatelytotheadministrationdepartment

oftheCompany.

Ourbusinessconductisfoundedontheprincipleof“fairtransaction.”Therefore,

noemployeemayreceivekickbacks,bribeothers,orcretlyreceivecommissionsorany

otherpersonalbenefits.

CompanyRecords

ordsarethebasis

ofourearningsstatements,financialreportsandotherdisclosurestothepublicandguide

yrecordsincludebooking

information,payroll,timecards,travelandexpenreports,e-mails,accountingand

financialdata,measurementandperformancerecords,electronicdatafilesandallother

recordsmaintainedintheordinarycourofourbusiness.

AllCompanyrecordsmustbecomplete,accurateandreliableinallmaterial

lodorunrecordedfunds,paymentsorreceiptsareinconsistentwithour

responsibleforunderstandingand

rsupervisorifyouhaveany

questions.

AccuracyofFinancialReportsandOtherPublicCommunications

Asapubliccompanywearesubjecttovariouscuritieslaws,regulationsand

derallawandourpoliciesrequirethedisclosureofaccurate

andcompleteinformationregardingtheCompany’sbusiness,financialconditionand

rate,incompleteoruntimelyreportingwillnotbetolerated

andcanverelydamagetheCompanyandresultinlegalliability.

TheCompany’sprincipalfinancialofficersandotheremployeesworkinginthe

AccountingDepartmenthaveaspecialresponsibilitytoensurethatallofourfinancial

disclosuresarefull,fair,accurate,mployeesmust

understandandstrictlycomplywithgenerallyacceptedaccountingprinciplesandall

standards,lawsandregulationsforaccountingandfinancialreportingoftransactions,

estimatesandforecasts.

CompliancewithLawsandRegulations

Eachemployeehasanobligationtocomplywithalllaws,rulesandregulations

nclude,withoutlimitation,lawscovering

briberyandkickbacks,copyrights,trademarksandtradecrets,informationprivacy,

insidertrading,illegalpoliticalcontributions,antitrustprohibitions,foreigncorrupt

practices,offeringorreceivinggratuities,environmentalhazards,employment

discriminationorharassment,occupationalhealthandsafety,falormisleading

expectedtounderstandand

complywithalllaws,oubt

existsaboutwhetheracourofactionislawful,youshouldekadvicefromyour

supervisorortheLegalDepartment.

rTrading

Companyemployeesareprohibitedfromtradinginthestockorothercuritiesof

theCompanywhileinposssionofmaterial,nonpublicinformationabouttheCompany.

Inaddition,Companyemployeesareprohibitedfromrecommending,“tipping”or

suggestingthatanyoneelbuyorllstockorothercuritiesoftheCompanyonthe

basisofmaterial,yemployeeswhoobtainmaterial

nonpublicinformationaboutanothercompanyinthecouroftheiremploymentare

prohibitedfromtradinginthestockorcuritiesoftheothercompanywhilein

posssionofsuchinformationor“tipping”otherstotradeonthebasisofsuch

ionofinsidertradinglawscanresultinverefinesandcriminal

penalties,aswellasdisciplinaryactionbytheCompany,uptoandincludingtermination

uldetheCompany’sInsiderTradingPolicyfordetailed

guidelinesoninsidertrading.

Conclusion

ThisCodeofBusinessConductandEthicscontainsgeneralguidelinesfor

conductingthebusinessoftheCompanyconsistentwiththehigheststandardsofbusiness

aveanyquestionsabouttheguidelines,pleacontactyoursupervisoror

ctallCompanyemployees,toadheretothestandards.

Foranyknownorsuspectedviolationsoflaws,rules,regulations,policies,misconduct,

orcomplaints,youmayreportdirectlytotheAuditCommitteeat

dwu77@am@,orVivianZouofVanceinfo’s

LegalDepartmentatvzou@86(10)82825266*8872