Wave Sync Corp (OTCMKTS:WAYS) share prices are up 30% after the company announced that it will be working with the Guangdong branch of China Construction Bank to issue new audio bank cards embedded with inlays.
China Construction Bank is one of the top four banks in China and will be working with Wave Sync Corp (OTCMKTS:WAYS) in this pilot program to use audio bank cards to be distributed to some of its 25 million customers. This bank, which was formerly known as the People’s Construction Bank of China, was ranked as the second largest in the world for 2015 based on market capitalization and is the sixth largest company in the world. In addition to its 13,629 domestic branches, it also has overseas branches in Barcelona, Frankfurt, Luxembourg, Hong Kong, Johannesburg, New York, Seoul, Singapore, Tokyo, Melbourne, Sydney and Auckland.
This is a significant milestone for the Company in that CCB may roll out the audio bank cards with our inlays to its nationwide customers if the pilot launch turns out to be satisfactory
said Zuyue Xiang, Chief Executive Officer of the Wave Sync said in its press release.
Wave Sync Corp (OTCMKTS:WAYS) shares have traded in a 52-week range of $0.40 to $20.00 on the OTC Markets. The company has a market capitalization of $129.49 million. Based on its latest financial statement, the company was able to make $191,000 in revenue for a net loss of $1.47 million for the reporting period.
Wave Sync is an emerging mobile payment solution provider principally engaged in the design and production of inlays composed of flexible circuit boards for active smart cards and other products in related technologies. Its core operating business center is located in China. The company supplies and sells electronic inlays embedded with audio chips and other modules to card manufacturers that have established relationships with major banks in China.
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