JINJIANG, China, Aug. 20, 2020 /PRNewswire/ -- China Ceramics Co.,
Ltd. (NASDAQ Capital Market: CCCL) ("China Ceramics" or the
"Company"), a leading Chinese manufacturer of ceramic tiles used
for exterior siding and for interior flooring and design in
residential and commercial buildings, today announced that its
newly-formed wholly-owned subsidiary which focuses on software
development, Antelope Holdings (Chengdu), Co., Ltd., has entered into a
licensing contract with Sichuan Jin Dou Yun Law Firm, a law firm that represents banks and
financial systems in helping them to recover overdue client
accounts. The total fee to be paid to the Company under this
contract is RMB 5.0 million
(approximately $0.7 million), of
which 30% or RMB 1.5 million
(approximately $217,000) is to be paid within three months of
contract's execution and the remaining balance - prior to the end
of the one-year contract term. The software system will enable bank
customer financial information to be sent to the law firm for
computerized batch processing, automatically identify breaches of
electronic contracts and facilitate
digital routing to the court system of overdue collections cases
for quicker administration and adjudication than what is currently
in place.
"We are pleased that our new software development subsidiary has
developed a specialized product for the legal marketplace that
meets a need to contend with high volume bank case work and help
the legal system work more efficiently," said Ms. Meishuang Huang,
Chief Executive Officer of China Ceramics. "We believe that we can
scale our new software development business to address the fintech sector's opportunities. Today's announcement
represents our second software contract for our new subsidiary, and
we are intent upon growing this part of our business."
About China Ceramics Co., Ltd.
China Ceramics Co., Ltd. is a leading manufacturer of ceramic
tiles in China. The Company's
ceramic tiles are used for exterior siding, interior flooring, and
design in residential and commercial buildings. China Ceramics'
products, sold under the "Hengda" or "HD", "Hengdeli" or "HDL", the
"TOERTO" and "WULIQIAO" brands, and the "Pottery Capital of Tang
Dynasty" brands, are available in over 2,000 style, color and size
combinations and are distributed through a network of exclusive
distributors as well as directly to large property developers.
Through its wholly-owned subsidiary, Antelope Holdings
(Chengdu), Co., Ltd., the Company
provides fintech solutions which includes the development of
blockchain software. For more information, please visit
http://www.cceramics.com.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release are forward-looking
statements that involve a number of risks and uncertainties,
including statements relating to the Company's ability to, among
other things, successfully design, deploy and pursue this expansion
strategy, the Company's ability to complete any agreements with new
customers in the markets in question and add to its overall growth.
Actual events or results may differ materially from the Company's
expectations. Factors that could cause actual results to differ
materially from those stated or implied by the Company's
forward-looking statements are disclosed in its filings with the
Securities and Exchange Commission. These forward-looking
statements represent the Company's judgment as of the time of this
release. The Company disclaims any intent or obligation to update
these forward-looking statements, other than as may be required
under applicable law.
###
View original
content:http://www.prnewswire.com/news-releases/china-ceramics-software-subsidiary-secures-contract-for-legal-applications-301115346.html
SOURCE China Ceramics Co., Ltd.