Marbridge Daily

<- November 14, 2011 ->

Hengbao Wins China Telecom Contactless Payment Contract

Shenzhen Stock Exchange, 11/12/11

On November 11, Chinese smart card vendor Hengbao (002104.SZ) signed a RMB 106.04 mln supply agreement to provide China Telecom (NYSE: CHA; 0728.HK) with four shipments of contactless payment cards. With a deadline set for June 2012, the contract calls for a RMB 24.80 mln shipment of 13.56MHz NFC UIM cards, RMB 36.72 mln worth of 2.4GHz RFID UIM cards, a RMB 31.23 mln order of 13.56MHz public transit cards, and RMB 13.28 mln worth of bank cards.

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