RE: more to come2 Sep 2016 18:13
DJI’s Xinhuatong partnership “ahead of schedule”
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08:43 22 Aug 2016
The NewNet and Xinhuatong partnership, which DJI provides the mobile payments technology for, has now signed up ten of the targeted 12 provinces in China
a man stamping a contract
The Xinhuatong partnership has inked more deals than it would this year
DJI Holdings PLC (LON:DJI) has told investors that the NewNet and Xinhuatong partnership, which it provides the technology for, is ahead of schedule as it looks to win more contracts.
London-listed DJI is supplying the platform to the partnership which will allow people to pay utility bills, phone top-ups and fines through a mobile app.
The partnership has now signed up ten of the 12 provinces in China it had targeted, and expects to complete the remaining two before the year is out.
DJI originally expected the mobile app to be launched in nine provinces by the end of 2016, but now expects to launch ten before the end of September.
The Xinhuatong venture has also opened up some new doors for DJI, with several new channel partners showing an interest in using the company’s technology.
“The Xinhuatong partnership is running ahead of schedule in the largest provinces targeted, while important channel partners are showing great interest in collaborating with our versatile technology platform,” said chief executive Darren Mercer.
As a result of the venture’s steady progress over the summer, DJI expects the partnership to make a “substantial contribution” to revenues in the fourth quarter of this year.
The company added that it expects to make a number of announcements in the coming weeks
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