Yucheng Technologies Ltd. rises, inks $8.9 million contracts
Shares of Yucheng Technologies Ltd. (Nasdaq: YTEC) are higher following news before the opening bell that the Chinese IT company signed three contracts worth a total of about $8.9 million.
All three contracts reportedly involve the provision of call center solution and implementation services to China Construction Bank. Beijing-based Yucheng will assist the commercial bank with call center integration and will upgrade and extend the capacity of its national credit card call center.
“We are excited to further develop and strengthen our working relationship with China Construction bank,” said CEO Weidong Hong in a statement. “Chinese banks have been making great efforts to develop non-branch customer channels, such as online banking and call centers.”
The projects are expected to be completed by the end of 2007.
At 12:48 p.m. ET, Yucheng (YTEC) shares had added $1.78, or 19%, to $11.38.
