By Robb M. Stewart
Aurora Mobile Ltd. shares jumped Friday after the telecommunications company landed cooperation agreements to partner with China United Network Communications Ltd. Beijing Branch on fifth-generation mobile services.
In morning trading, its stock was 48% higher at $4.70, extending gains in 2020 to 59%.
Aurora said the agreements for the 5G strategic cooperation and 5G messaging connection test with Beijing Unicom mark the start of a new chapter for the company as it works with telecom carriers to promote 5G messaging applications in China.
5G messaging, also known as rich communication services, will replace traditional short message services (SMS) and support diversified multimedia formats beyond text to include audio and video and location information.
The company said its next steps will involve keeping pace with the rapid deployment of 5G infrastructure in China, providing additional support to Beijing Unicom's 5G RCS messaging ecosystem and expanding 5G service offerings.
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(END) Dow Jones Newswires