QuantumCTek (SHA:688027) signed 55.2 million yuan worth of contracts with China Telecom (HKG:0728, SHA:601728) and its subsidiaries during the preceding 12 months, according to a Friday disclosure on the Shanghai bourse.
The contracts include two sales contracts with China Telecom Quantum Information Technology Group amounting to 37.7 million yuan and 11.7 million yuan, respectively.
The company also plans to sign a 2.7 million yuan sales contract with China Telecom Quantum Technology.
The Chinese communications equipment maker's shares fell 3% during the afternoon trade.
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