Peak Positioning Technologies Inc. announced the establishment of its Hong Kong based subsidiary, Asia Synergy Limited (ASL). ASL is a wholly-owned Peak holding company through which Peak will establish and own an upcoming Wuxi-based operating subsidiary. ASL has undertaken the process to establish the Wuxi-based operating company which will develop and operate a Fintech platform to provide logistics, warehousing, loans and other financial services to china's plastics industry.

In addition to operating the Plastic Bank platform, the Wuxi-based subsidiary will engage in the distribution of plastic related raw materials to China's plastic manufacturers.