April 12, 2012. Beijing Ultrapower Software Co. Ltd. (Ultrapower; SZSE: 300002), an information technology (IT) service provider and software developer announced that it won the contract for Fetion (an instant communication tool) service from China Mobile Communication Corporation (CMCC).
Once achieving performance target, Ultrapower would be able to reap a maximum of CNY 600 million service charges. According to the contract, D-media Communication Tech, a Beijing-based wholly-owned subsidiary of Ultrapower, will continue to provide system development, technical implementation and supporting service concerned with Fetion. Meanwhile, such working contents as Feiliao (a chat software developed by CMCC), technical implementation and supporting service are added in the contract signed this time.
The service payments are composed of CNY 435.504 million quarterly basic payments, CNY 108.876 million quarterly assessment payments and CNY 55.62 million annual assessment payments, according to preliminary estimation.