- Peak Fintech (PKK) is showing promising results following its entry into the oil and gas industry in Q3
- It processed C$200 million in financing in the sector, generating over $6 million in revenue for the quarter
- Current clients include PetroChina, Sinopec and British Petroleum
- Peak Fintech Group offers a suite of services in China’s commercial lending industry
- Peak Fintech (PKK) is up by 4.84 per cent and is currently trading at $10.40 per share
Peak Fintech (PKK) is showing promising results following its entry into the oil and gas industry in Q3.
It introduced its oil and gas services in Guangzhou, a port megacity where many large cargo ships fuel up for their globe-spanning journeys.
It’s currently working with PetroChina, Sinopec and British Petroleum to facilitate product purchases through its Gold River platform, having processed C$200 million in financing and generated over $6 million in revenue for the quarter.
The company sees its entry into the oil and gas industry as an exceptional opportunity as China lowers carbon emissions by moving away from coal.
Peak believes it can leverage the supply-chain vertical to spread its Business Hub to almost every industrial sector in China.
With 14.2 million barrels of oil consumed per day, China is the world’s second-largest oil consumer behind only the United States.
Peak Fintech Group offers a suite of services in China’s commercial lending industry.
Peak Fintech (PKK) is up by 4.84 per cent and is currently trading at $10.40 per share as of 9:32 am ET.