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Global software application and technology services provider Powerbridge Technologies began trading on New York's Nasdaq Stock Market under the symbol PBTS as of 9 pm on April 2.
The Zhuhai-headquartered company sustained strong profitability with year-on-year net profit of 17 percent in 2016 and 19 percent in 2017. Sales revenue exceeded $21.17 million and $21.63 million in those two years. In the first half of 2018 it recorded sales of $7.89 million.
With expansion to new areas based on newly introduced “cloud” platforms, the company forecasts a performance increase greater than 50 percent this year.
Powerbridge listed on Nasdaq [Photo provided by Powerbridge]
Powerbridge was founded in 1997 in Southern Software Park in the Zhuhai National Hi-Tech Industrial Development Zone (Tangjiawan) and has a software R&D center in Beijing. It serves corporations, government agencies, customs offices, port organizations, specially supervised parks, and service providers. Its business ranges from customs clearance to processing trade transactions, including cross-border e-commerce and imports and exports.
Equipped with the field's largest technical team of more than 200 members, Powerbridge has 76 proprietary software copyright technology achievements and 28 patents. It is also accredited as a High & New-Technology Enterprise with CMM3 and ISO series international certifications.
The company was recognized as a Zhuhai key corporate technology center earlier this year. The huge brand effect brought about by the listing will greatly enhance development strength and market influence, said a company manager.