Tenet Fintech Group Inc. (CSE: PKK, OTC Pink: PKKFF)
Commercial Lending in China Ready to Tenet!
The share price of Kexin Communication Technologies has jumped after the Chinese company announced that it will acquire Finland’s Fi-Systems, a parent of four electronic equipment suppliers to firms such as Ericsson and Nokia, for EUR3.5 million (USD3.9 million) to seize more global opportunities in terms of fifth-generation wireless networks. Kexin’s [SZ:300565] stock price rose 6.3 percent this morning to CNY15.67 (USD2.30) after hitting the daily limit of a 10 percent climb yesterday. Kexin has offered to purchase the entire equity of Fi-Systems from Efore, while gaining the target firm’s brand, technologies, and patents, the Shenzhen-based company said in a statement yesterday. Fi-Systems, which draws all of its income from its subsidiaries, posted EUR10.5 million in revenues from January to May, down 44 percent from the previous year. Last year, the Espoo-headquartered firm narrowed its loss from 2017 to EUR790,000 (USD872,516) in earnings before interest and tax. Founded in 2001, Kexin sells communication equipment across China. Source: yicaiglobal.com
