SHANGHAI :
Montnets Rongxin Shares Hit 44 Month High on Huawei Tie-Up
Tang Shihua
DATE:  Oct 17 2019
/ SOURCE:  yicai
Montnets Rongxin Shares Hit 44 Month High on Huawei Tie-Up Montnets Rongxin Shares Hit 44 Month High on Huawei Tie-Up

(Yicai Global) Oct. 17 -- Shares in software developer Montnets Rongxin Technology Group hit a 44 month high today after it revealed that it was helping Huawei improve its homegrown Hongmeng mobile operating system.

Its stock [SHE:002123] was trading at CNY20.24 (USD2.85) a share as of 10.50 a.m., up 5.4 percent from yesterday's close after opening at CNY21.12, a new high since February 2016.

The Shenzhen-based firm said yesterday it has penned a deal with a Huawei subsidiary to work on the operating system at Huawei's open platforms to create new interfaces and products for corporate clients.

Huawei phones have long used Google's Android operating system, but trade sanctions put in place by US President Donald Trump's administration have forced the company to consider alternatives, including creating its own OS that was initially designed for industrial use.

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Keywords:   Share Price,Business Partnership,R&D,Operating System,System Ecology,Hongmeng,Huawei,Montnets Rongxin