Hanwei Electronics Unit Bags Blockchain Bid, Sends Its Shares to Early Limit Up
Tang Shihua
DATE:  Jan 15 2018
/ SOURCE:  Yicai
Hanwei Electronics Unit Bags Blockchain Bid, Sends Its Shares to Early Limit Up Hanwei Electronics Unit Bags Blockchain Bid, Sends Its Shares to Early Limit Up

(Yicai Global) Jan. 15 -- Blockchain is still a magnet for investors in China's A-share market. Shares in sensor and instrumentation specialist Hanwei Electronics rose to limit up in this morning's trade after it announced its subsidiary had won a digital ledger project.

China's A-share market rules suspend trading in shares which rise or fall 10 percent.

Hanwei Electronics Group Corp. [SHE:300007] announced today several projects and bids the firm and its subsidiaries had recently clinched. News that its subsidiary Henan CNSECloud Information Technology Co. had secured the bid for the electronic trading system security module of Guangdong South China Grain Trading Center drew the market's gaze.

Though the bid-winning amount was a paltry CNY436,500 (USD68,000), this product holds forth broad future market prospects, Hanwei Electronics said, while the project "is its first-ever use of its blockchain R&D achievements," added the firm, which will actively explore further applications.

"Blockchain products are not the company's main business and earnings expectations are uncertain," the firm advised, yet the market eagerly pushed its share price nonetheless.

The announcement offered no further details.

Hanwei Electronics became a shareholder in the subsidiary in Jan. 2016. The latter is an innovator focused on mobile Internet, Internet of Things ecology, and provision of data security and trusted ledger application services, public information shows.

Follow Yicai Global on
Keywords:   Block Chain Project,Hanwei Electronics,CNSECloud. Com