Hong Kong, China, Aug 29, 2014 - (ABN Newswire) - Acting as a market leader in the Chinese business to business to consumer (B2B2C) m-commerce segment, 99 Wuxian (ASX:NNW) (OTCMKTS:NNWXF) is well positioned to capitalise on the strong industry trends:
- China's mobile internet population reached 500 million in 2013 with penetration of 81%;
- 318 million smartphone units were shipped in 2013, jumping 64.1% year-on-year;
- the m-commerce market reached 45 billion RMB (A$7.87 billion*) in the second quarter of 2014, rising 104.1% year-on-year; and
- mobile shopping represents over 50% of the mobile internet market and this is expected to increase steadily with compound yearly growth rates of 46% from 2015-2017 (source:iResearch).
Given the momentum in China mobile commerce market, the Company has produced good results across all key performance indicators (KPI) of its operating performance since listing in October 2013. This was again demonstrated in the performance during the June 2014 quarter through growth in all KPI's compared to the corresponding quarter last year. Registered users grew to more than 31 million, which continues to be driven by a combination of new business partners joining the platform, and current business partners' promotional activities. Gross Transaction Value for the June 2014 quarter was triple the June 2013 quarter.
The company is dedicated to expanding its service offering to the more than 50 banks and financial institutions who have joined the platform, including nine (previously eight) of the top 10 Chinese banks; activating the more than 155 leading Chinese merchants on its platform; and developing and launching new services for its B2B partner base, throughout its ICS (Incentive Cloud Service) platform and data mining/behavioural analytics.
Given the operational achievements in the business, and growth outlook for the Chinese m-commerce segment, the company has initiated a strategic review to assess its listing structure and location, in order to accomodate the significant growth opportunities across the Chinese m-commerce market.
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About 99 Wuxian Ltd:
99 Wuxian Ltd (ASX:NNW) provides online financial and operational services for more than 50 domestic banks, securities and operators with cooperation covering value-added applications, data mining, precision marketing and other areas of expertise: Provide data acquisition and mining, setting up of intermediate business platform.
99 Wuxian Limited
Mr Ross Benson
Mr Simon Hinsley