Wednesday, February 29, 2012
ZHONG QING BAO TO PILOT 3RD-PARTY E-PAYMENT
AsiaInfo Services
03-25-2011
Zhong Qing Bao to Pilot 3rd-party E-payment
SHENZHEN, Mar 25, 2011 (SinoCast Daily Business Beat via COMTEX) -- Shenzhen Zhong Qing Bao Network Technology Co., Ltd. (SZSE: 300052) issued an announcement on March 25, 2011, saying that it will set up a wholly-owned subsidiary in Shenzhen to pilot the third-party e-payment.
The newborn is temporarily called Shenzhen Zhong Fu Tong Electronic Commerce Co., Ltd., with registered capital of CNY 100 million that is supplied by raised capital and related operating capital of the parent company in cash. CNY 40 million of the registered capital is used as working capital, and the rest CNY 60 million will be used as caution money for bank loans needed by the third-party payment platform.
The listed company also announced specific investments in the subsidiary in the following two years: in 2011, CNY 19 million in the third-party payment system construction; CNY 10 million in purchase of related storage equipment and rent of machine rooms, CNY 4 million in labor cost, and CNY 5 million in operation and marketing and as working capital; in 2012, CNY 21 million in purchase of software and hardware storage equipment and rent of machine rooms, CNY 7 million in system maintenance, CNY 9 million in labor cost, and CNY 5 million operation and marketing and as working capital.
Source: www.chinaventure.com.cn (March 25, 2011)
KEYWORD: SHENZHEN INDUSTRY KEYWORD: Internet & Online Services & Media SUBJECT CODE: Internet & Online Services
Online/Direct Banking
SinoCast China Business Daily news
third-party e-payment
storage equipment
machine room
labor cost
working capital
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