Remark Holdings Inc. (NASDAQ:MARK) to report a quarterly loss at $0.07 per share on revenue of $1.31 million after the closing bell.
The Las Vegas-based Remark, a diversified global technology company with leading artificial intelligence solutions and digital media properties, was in the news last month on starting up a partnership with Hanvon Technology, a publicly listed Chinese systems integrator.
It was also then that Remark won the Phase 2 implementation of China Mobile's contract for the transformation of its 17,800 corporate stores into smart retail stores.
With its advanced AI solutions for the field of smart retail, Remark's China-based subsidiary, KanKan AI, partnered with Hanvon Technology to successfully win the second phase of China Mobile's Smart Telecom Operator Store Project.
"KanKan AI is excited to continue our deep cooperation with Hanvon Technology. By combining their hardware expertise and sales channel with our advanced AI technology research and development, we expect the partnership will not only allow to us to win more contacts together with China Mobile, but also to expand our business in the smart telecom retail store market," added CEO Kai-Shing Tao.
"China Mobile's successful results from early Phase 1 implementations has resulted in an expanded commitment to our additional offerings. Our award winning AI solutions offer corporations a suite of applications that can be implemented in conjunction with existing security hardware."
MARK began trading Monday morning up 17.5 cents, or 7.4%, to $2.535.
