UCloudlink Group (UCL) said Friday that it has received approval for pilot operations of value-added telecommunications services by China's Ministry of Industry and Information Technology.
The mobile technology company said the approval will allow it to conduct value-added telecommunications services in China, such as internet access and information services.
Shares of the company were up 5% in recent premarket activity.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.