TechFlow news, according to Zhitongcaijing APP, recently China Telecom announced the list of winning bidders for its 2020 government and enterprise gateway centralized procurement project, with major companies including Huawei and Ebang International (EBON.US) making the list. Among them, Zhejiang Ebang Communication Technology Co., Ltd., a wholly-owned subsidiary of Ebang International, won a bid amounting to 369 million yuan (excluding VAT).
According to disclosures by China Telecom, the evaluation of bids for the aforementioned project began on June 22 this year. After assessment, Ebang Communication ranked fifth overall and met the qualification requirements specified in the tender documents.
Public information shows that since its inception, Ebang International has been committed to research in data communications, optical communications, 4G/5G wireless communications, and blockchain technology. This time it secured the China Telecom government and enterprise gateway procurement project.
Driven by this positive news, Ebang International's stock surged 63%, currently trading at $7.4.
