Benzinga | Aug 18, 2020 09:05AM EDT

China Ceramics Secures Software Systems Contract via Wholly-Owned Subsidiary For Total Fee Of $1.4M

JINJIANG,China, August 18, 2020 /PRNewswire/ -- China Ceramics Co., Ltd. (NASDAQ Capital Market: CCCL) ("China Ceramics" or the "Company"), a leading Chinese manufacturer of ceramic tilesJINJIANG,China, August 18, 2020 /PRNewswire/ -- China Ceramics Co., Ltd. (NASDAQ Capital Market: CCCL) ("China Ceramics" or the "Company"), a leading Chinese manufacturer of ceramic tiles used for exterior siding and for interior flooring and design in residential and commercial buildings, today announced that its newly-formed wholly-owned subsidiary which focuses on software development, Antelope Holdings (Chengdu), Co., Ltd., has entered into a one-year licensing contract with Chengdu Jinke Yulu Technology Co. Ltd., a software distributor which provides digital technology systems to banks, large financial institutions and courts. The total fee to be paid to the Company under this contract is RMB 10 million (approximately $1.4 million), of which RMB 2.6 million (approximately $375,000) is to paid three months after the contract's execution and the remaining balance prior to the end of the one-year contract term. The software that the Company's subsidiary developed is a blockchain digital storage and depository system designed to ensure the legal compliance of financial transactions.