Shares in Cleantech Solutions International Inc (NASDAQ: CLNT) rocketed on Nasdaq as it announced a potential acquisition of at least 51% of Inspirit Studio.
Inspirit Studio runs a mobile platform called Anyway, which allows people to provide courier delivery services when they are commuting. It allows freelance couriers to earn income by sharing their journeys.
"Anyway resolves problems that the current courier services have," said Kurt Tam, chief executive of Inspirit Studio.
"With Anyway, senders can get speedy responses to contact with our freelance couriers who are in close proximity to the senders. There is no limitation on service area and business hours. With a five-month pilot program in Hong Kong, we have signed up over 2,000 freelance couriers, with over successful 6,000 transactions."
Parkson Yip, chief operating officer of Cleantech Solutions, added: "We are excited to work with Anyway to further fine tune their solution and integrate with other sharing economy platforms."
According to research, the number of users participating in the peer-to-peer delivery sharing market in China has grown from to 231mln in 2016 from 124mln in 2014, and experts expect it to grow to 353mln by 2018. Around 1.4bn transactions were recorded in the first quarter of 2017.
Shares in Clentech rocketed over 96% to US$6.52 on Nasdaq on the news.