Savmobi Technology Inc. strengthen its position into app-writing sector
On April 14, 2022, SavMobi Technology, Inc. (OTC: SVMB) entered into a Memorandum of Understanding with Dalian Yuanmeng Media Co., Ltd. to explore opportunities in the China E-commerce market.
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Rhea-AI Summary
On April 14, 2022, SavMobi Technology, Inc. (OTC: SVMB) entered into a Memorandum of Understanding with Dalian Yuanmeng Media Co., Ltd. to explore opportunities in the China E-commerce market. The agreement stipulates a 50:50 income sharing ratio, potentially enhancing SVMB's competitiveness in Dalian amidst recovering from COVID lockdowns. Currently, SVMB provides commercial mobile technical support services in China, aiming to leverage this collaboration for growth in the evolving market landscape.
Positive
- Entered MOU with Dalian Yuanmeng Media, expanding market collaboration.
- 50:50 income sharing ratio enhances potential profitability.
- Expectations of increased competitiveness post-COVID recovery.
Negative
- None.
Details
News Market Reaction – SVMB
The recorded move for SVMB in the trading session of this news was -50.00%.
Data tracked by StockTitan Argus. Session date unavailable.
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Dalian, China, April 14, 2022 (GLOBE NEWSWIRE) -- SavMobi Technology, Inc., (OTC : SVMB) a Nevada corporation (“SVMB” or the “Company”) entered into a Memorandum of Understanding (the “MOU”) with Dalian Yuanmeng Media Co., Ltd, a company registered under the laws of People’s Republic of China (“Yuanmeng”), respectively. Pursuant to the MOU, Yuanmeng agreed to provide their client base in order to collaborate with SVMB to explore the China E-commerce market. The income sharing ratio will be 50:50 between SVMB and Yuanmeng.
The Company is currently operating in provision of commercial mobile technical support services in China. The Company expects the collaboration will increase the competitiveness in the community of Dalian, China after the relief of current COVID lock-down situation.
Contact: mahongyu1979@gmail.com
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