JINJIANG, FUJIAN PROVINCE, China, Aug. 24, 2020 /PRNewswire/ — China Ceramics Co., Ltd. (NASDAQ Capital Market: CCCL) (“China Ceramics” or the “Company”), a arch Chinese architect of bowl tiles acclimated for exoteric balustrade and for autogenous attic and architecture in residential and bartering buildings, today appear that its newly-formed wholly-owned accessory which focuses on software development, Antelope Holdings (Chengdu) Co., Ltd., has entered into a licensing arrangement with Chengdu Baishengtong Business Consulting Co., Inc. (“Baishengtong Consulting”), a close that provides consulting casework associated with non-performing assets for asset administration firms. The absolute fee to be paid to the Company beneath this arrangement is RMB 6.0 actor (approximately $0.9 million), of which 40% or RMB 2.4 actor (approximately $347,000) is to be paid aural six months of the contract’s beheading and the absolute antithesis amid six months and twelve months of the one-year arrangement term. Most of the non-performing assets abide of acclaim and customer loans that were connected by banking institutions via the Internet and accept been defaulted on by borrowers, and these baby loans are about aggregated and awash to asset administration companies back they are too baby for banking institutions to action alone for collection. China Ceramics’ subsidiary’s software arrangement will accredit Baishengtong Consulting to assignment with asset administration companies to analyze and digitally accumulation action these non-performing assets and accelerate them to arbitration centers of the cloister arrangement for resolution, and digitally appoint acknowledged administration if necessary. The software is advised to facilitate the advice aqueduct amid banking institutions, asset administration companies and the cloister arrangement through specialized accumulation processing.
“We are absolute admiring that our new software development accessory has connected its able drive in creating a software artefact for a fintech consultancy to advice to facilitate the resolution of non-performing loans,” said Ms. Meishuang Huang, Chief Executive Officer of China Ceramics. “With this latest contract, we accept now fabricated appropriate into important capacity of the fintech ecosystem including banking institutions, asset administration firms, law firms and fintech consultancies. We intend to abide to accomplish added appropriate as our new software aggregation develops added fintech products.”
About China Ceramics Co., Ltd.
China Ceramics Co., Ltd. is a arch architect of bowl tiles in China. The Company’s bowl tiles are acclimated for exoteric siding, autogenous flooring, and architecture in residential and bartering buildings. China Ceramics’ products, awash beneath the “Hengda” or “HD”, “Hengdeli” or “HDL”, the “TOERTO” and “WULIQIAO” brands, and the “Pottery Capital of Tang Dynasty” brands, are accessible in over 2,000 style, blush and admeasurement combinations and are broadcast through a arrangement of absolute distributors as able-bodied as anon to ample acreage developers. Through its wholly-owned subsidiary, Antelope Holdings (Chengdu), Co., Ltd., the Company provides fintech solutions which includes the development of blockchain software. For added information, amuse appointment http://www.cceramics.com.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this columnist absolution are advanced statements that absorb a cardinal of risks and uncertainties, including statements apropos to the Company’s adeptness to, amid added things, auspiciously design, arrange and accompany this amplification strategy, the Company’s adeptness to complete any agreements with new barter in the markets in catechism and
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