NEW YORK (TheStreet) -- Shares of
SGOC O Group Ltd. (SGOC_) are climbing higher by 82.72% to $2.96 in mid-morning trading on Thursday, after the company announced it launched a new online sales platform on JD.com (JD_) , to help accelerate its delivery of high quality products and services.
The China-based company, which is focused on product design, distribution and brand development in the country‘s flat-panel display market, said it has taken a "significant step" towards developing e-commerce through the deal and driving new growth opportunities, while expanding its customer base.
"By signing the new distribution agreement, SGOCO agrees to provide the best-priced, exclusive and competitive products to JD.com for online direct sales," the company said.