Shares in Gridsum Soar on Partnership With New H3C to Promote Digitization

The stock in the Chinese provider of big data and AI solutions was trading up 17 percent early Wednesday.

CapitalWatch Staff
    Feb 13, 2019 8:22 AM  PT
Shares in Gridsum Soar on Partnership With New H3C to Promote Digitization
author: CapitalWatch Staff   

The stock of Gridsum Holding Inc. (NASDAQ: GSUM) soared 17 percent Wednesday morning to $3.25 per American depositary share after the company announced its partnership with New H3C Group to promote integrated intelligent solutions in China.

Under the agreement, the Beijing-based provider of big data analytics and artificial intelligence solutions and H3C, which provides digital solutions in China, will build a platform to promote digitization and the industrial transformation.

The two companies said their collaboration aims to "systematically reduce costs, improve efficiencies, and enhance management of the manufacturing process" for their corporate clients and will propel China's digital economic development.

The chief executive officer of Gridsum, Guosheng Qi, said in a statement today that the two companies share a similar vision for the future – to transform industries with digitalization.

"New H3C is helping to drive the innovation of digital solutions across China's many industries," Qi said. "We are excited to have the opportunity to work with them to apply our cutting-edge technologies to the manufacturing process."


MOST VIEWED
YOU MAY LIKE