(Yicai Global) Jan. 5 -- The share price of ChinaNet Online Holdings Inc. [NASDAQ:CNET], whose subsidiary operates an advertising and precision marking platform, surged after the company announced a partnership with blockchain ecosystem builder Wuxi Jingtum Network Technology Co.

The Beijing-based group's stock rose nearly sevenfold to a closing price of USD9.34 yesterday from a closing price of USD1.17 on Jan. 3.

"This strategic partnership between ChinaNet and Jingtum is focused on blockchain technology to build a credible, fair and transparent platform for business opportunities and transactions," the company said in a press release.

"With the introduction of blockchain technology, the platform-centric services in the past will gradually shift towards decentralization, solving trust issues in business cooperation and services and enhancing user vitality and stickiness," ChinaNet Chief Executive Handong Cheng.