Mmtec Inc: Rises On Strong Half: year revenue

MMTec

16/10/2020 11:34

** Shares of asset management co  MTC.O  up 27.43% at $1.44
premarket
    ** Co, on Thursday, said its revenue for six months ended
June 30 rose by 85.35% to $329,070  urn:newsml:reuters.com:*:nPn3c5mvsa
    ** Co attributes jump in revenue to increased sales force in
broker-dealer business
    ** MTC said it plans to increase its investment in U.S.
securities and diversified asset allocations amid trade tension
between China and the United States
    ** It also plans to set up new U.S. team to service small
and medium-sized overseas investment institutions to invest in
Chinese securities market
    ** Net loss narrowed to $1.01 mln, or $0.05 per share, for
compared with loss of $1.33 mln, or $0.07 per share, a year
earlier
    ** Stock down 42.05% YTD

 (Reporting by Madhvi Pokhriyal in Bengaluru)
 ((Madhvi.pokhriyal@thomsonreuters.com))