In the premarket trading session, at last check, Code Chain New Continent Limited (CCNC) stock had surged by 6.05% to $2.28. CCNC stock previously closed the session at a loss of -20.66% to $2.15. The CCNC stock volume traded 0.95 million shares. In the past week, CCNC shares have shed -27.85%. In the past three and six months, the CCNC stock has shed -56.57%, while and added 31.90%. Furthermore, Code Chain New Continent Limited is currently valued in the market at $79.18 million and has 32.57 million outstanding shares.
Here’s what you need to know about Code Chain New Continent Limited
Code Chain New Continent Limited is a Coking Coal business company that trades and operates in The People’s Republic of China. However, may Chinese firms have this characteristic to have diverse and contrasting portfolios in different industries which does not necessarily make it a conglomerate. CCNC stock also works in the mobile gaming industry through its subsidiaries where it specifically focuses on the development of a game called Wuge Manor, an online multiplayer game that has built-in purchases- therefore making it e-commerce based game that has a code chain platform. This code chain platform access is given to players through vendors and business owners and exists in 100 cities within the Republic.
The coal business and operations involves the mainstream operations of a full-cycle coal business (from processing and storing of stream coal and iron ore to sales and transportation). Along with the coal business, Code Chain New Continent Limited also runs complimentary business of selling coke, steel and construction materials, steel remains as well as machinery parts.
The CCNC stock also has a business of purchase and selling of electric tokens that are specifically used for the purchase of virtual properties and assets in real estate. Code Chain New Continent Limited was previously known as TMSR Holding Company Limited until May 2020. The headquarter of CCNC is based in Chengdu in China.
Code Chain’s joint-venture to create a zero carbon crypto-mining platform
The company has in the start of the month of June announced collaboration with Zhongyou Technology as a joint venture. As the era is in the inception phase of digital currency and cryptocurrency revolution, there is a massive spike in the crypto mining. However, with the mining comes considerable cause of alarm for the environment and climate due to the carbon footprint emission by the mining of cryptocurrency. This joint venture was agreed upon as a goal to establish and develop a carbon neutral and zero-carbon crypto-mining platform. The joint venture company will be known as “Carbon Zero Renewables (Shenzhen) Co. Ltd. The JV company’s current registered capital is $1 million and has contributed 100% in cash by Code Chain and will own 51% of the company while Zhongyou will own 49%. Furthermore, pursuant to the degree, Zhongyou will provide the teams of technical experts and support staff. It will also be responsible for the ownership of the intellectual property rights and know-how.