Wave Sync's Comment on Sales, Marketing and Customers
Our inlays and relevant technology support are expected to be sold to bank card
manufacturers. Audio bank cards embedded with our inlays are then expected to
be sold to CCB Guangdong via its pilot program. In addition, we expect to develop
and maintain our relationships with other banks throughout China.
Shenzhen Exce-card has entered into cooperation agreements on July 23, 2014 and
July 7, 2014, respectively, to partner with two bank card manufacturers in China,
Hengbao and Tianyu, both of which are publicly traded on China’s Shenzhen
Stock Exchange and have established relationships with major commercial banks
in China as their bank card providers, including Bank of China, Bank of Communications,
CCB, Agricultural Bank of China, and Industrial and Commercial Bank of China.
Additionally, Shenzhen Exce-card and Tianyu signed a more detailed audio bank
card production preparation service agreement (the “Service Agreement”),
according to which, from May 1, 2015 to May 1, 2016, Shenzhen Exce-card is to
provide inlays for testing, technology and support to Tianyu for the manufacturing
of the audio bank card end product, and in return, Tianyu pays RMB150,000 (approximately
$23,630.61) for Shenzhen Exce-card’s services. Tianyu, headquartered at
Huazhong University of Science and Technology Science Park in Wuhan City, Hubei
Province, China, is a high-tech enterprise focusing on the research and development,
manufacturing, and sale of products and services related to data security, mobile
internet, and payment services. It has an annual production capacity of 500 million
IC cards, and an estimated annual production capacity of 10 million audio bank
cards. At present, Tianyu is testing and digesting the technics for the lamination
of audio bank cards, and thus, is manufacturing a portion of the 10,000 beta testing
audio bank cards for Guangzhou Yuzhi and its Subsidiaries.
Shenzhen Exce-card has also entered into a cooperation agreement with Hengbao
on September 28, 2015, according to which, for 10 years from the date of this
agreement, Shenzhen Exce-card is to provide inlays, technology and support to
Hengbao for the manufacturing of the audio card end product, and in return, Hengbao
pays RMB200,000 (approximately $31,507.48) for Shenzhen Exce-card’s services.
Shenzhen Exce-card and Hengbao also agree to cooperate and develop the market
application and to gradually increase the market shares of audio bank cards. Hengbao,
headquartered in Beijing, China, with a manufacturing facility in Danyang City,
Jiangsu Province, China, is one of the largest card manufacturers and providers
in China. Hengbao has recently started to test and adjust the technics for the
lamination of audio bank cards according to the cooperation agreement between
Shenzhen Exce-card and Hengbao.
Through the strategic partnership with Qilong, we are exploring the possibility
of selling our next generation audio bank cards to customers or members of Qilong,
which is a joint developer of such said cards.
Wave Sync’s Comment on Sales, Marketing and Customers
Our inlays and relevant technology support are expected to be sold to bank card
manufacturers. Audio bank cards embedded with our inlays are then expected to
be sold to CCB Guangdong via its pilot program. In addition, we expect to develop
and maintain our relationships with other banks throughout China.
Shenzhen Exce-card has entered into cooperation agreements on July 23, 2014 and
July 7, 2014, respectively, to partner with two bank card manufacturers in China,
Hengbao and Tianyu, both of which are publicly traded on China’s Shenzhen
Stock Exchange and have established relationships with major commercial banks
in China as their bank card providers, including Bank of China, Bank of Communications,
CCB, Agricultural Bank of China, and Industrial and Commercial Bank of China.
Additionally, Shenzhen Exce-card and Tianyu signed a more detailed audio bank
card production preparation service agreement (the “Service Agreement”),
according to which, from May 1, 2015 to May 1, 2016, Shenzhen Exce-card is to
provide inlays for testing, technology and support to Tianyu for the manufacturing
of the audio bank card end product, and in return, Tianyu pays RMB150,000 (approximately
$23,630.61) for Shenzhen Exce-card’s services. Tianyu, headquartered at
Huazhong University of Science and Technology Science Park in Wuhan City, Hubei
Province, China, is a high-tech enterprise focusing on the research and development,
manufacturing, and sale of products and services related to data security, mobile
internet, and payment services. It has an annual production capacity of 500 million
IC cards, and an estimated annual production capacity of 10 million audio bank
cards. At present, Tianyu is testing and digesting the technics for the lamination
of audio bank cards, and thus, is manufacturing a portion of the 10,000 beta testing
audio bank cards for Guangzhou Yuzhi and its Subsidiaries.
Shenzhen Exce-card has also entered into a cooperation agreement with Hengbao
on September 28, 2015, according to which, for 10 years from the date of this
agreement, Shenzhen Exce-card is to provide inlays, technology and support to
Hengbao for the manufacturing of the audio card end product, and in return, Hengbao
pays RMB200,000 (approximately $31,507.48) for Shenzhen Exce-card’s services.
Shenzhen Exce-card and Hengbao also agree to cooperate and develop the market
application and to gradually increase the market shares of audio bank cards. Hengbao,
headquartered in Beijing, China, with a manufacturing facility in Danyang City,
Jiangsu Province, China, is one of the largest card manufacturers and providers
in China. Hengbao has recently started to test and adjust the technics for the
lamination of audio bank cards according to the cooperation agreement between
Shenzhen Exce-card and Hengbao.
Through the strategic partnership with Qilong, we are exploring the possibility
of selling our next generation audio bank cards to customers or members of Qilong,
which is a joint developer of such said cards.
Sources:
Wave Sync Corp.’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
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