Ann: New Billing Streams, page-25

I read the ann again.....Here is how I understand it.
China Mobile has chosen SMA as its technology provider for direct carrier billing for businesses dealing directly with CM......SMA doesn't need to chase customers or spend capital to market its platform.
This is "a game changer"
Recurrent & countless minute royalties , but with no (or very little) marketing effort or expenditure.
The system is already up & running in Guangdong with early uptake in the 1st week....A tangible effort.
We begin to understand the reason behind the premium the market is paying for SMA relative to its peers.