(Yicai) March 11 -- Shares of Montnets Cloud Technology jumped after the major Chinese provider of cloud communication services said that it has joined hands with PT Telekomunikasi Selular, the largest wireless carrier in Indonesia, on a multimedia messaging product.

Montnets [SHE: 002123] advanced by 3.6 percent to close at CNY9.93 (USD1.40) after surging as much as 6.5 percent earlier.

Montnets International, a Hong Kong-based subsidiary of Montnets, penned an agreement with PT Telekomunikasi Selular, also known as Telkomsel, and its affiliate PT Multitech Infomedia to launch Montnets' MMS product Net Message in the Southeast Asian country, the Shenzhen-headquartered company announced before the market opened today.

Telkomsel and PT Multitech Infomedia are linked to the SE Asian nation's largest telecommunications conglomerate Telkom Indonesia. Telkomsel has a 55 percent market share in the local mobile telecommunications sector.

The tie-up means that Montnets International will invest in building and operating a service platform in Indonesia whereas the local partner will connect the product to Telkomsel’s cellular networks and sell it to clients as an agent. Revenue will be shared based on a ratio that will be decided by the parties after considering market demand.

The cooperation will reshape Montnets’ Net Message into an MMS product that caters to local trends to offer better services to leading firms in the financial, manufacturing, and services sectors.

Before this, Montnets has teamed up with China’s three big state-owned wireless carriers, including China Mobile, to provide their clients with instant short messaging services, including MMS, featuring fifth-generation wireless technologies.

Montnets counts major domestic financial institutions such as the Shenzhen bourse, Bank of China, and China Merchants Securities, as well as tech giants such as Alibaba Group Holding, Tencent Holdings, Xiaomi, and JD.Com as some of its clients. In 2022, Montnets still earned almost 95 percent of its revenue domestically, according to the annual report.

Editor: Emmi Laine