JM Wowo Clarifies Its Business Does Not Involve P2P Lending
August 25 2016 - 4:05PM
On August 24, 2016, China Banking Regulatory Commission, Ministry
of Industry and Information Technology of China, Ministry of Public
Security, National internet Information Office issued a series of
Measures to further strengthen the management of P2P financing and
P2P internet lending platforms.
Regarding this issue, JM Wowo announced that the
Company’s business scale does not include P2P financing and P2P
internet lending service. JM Wowo’s focus is on B2B global
procurement service in hotel restaurant and hotel industries. The
Company’s online e-commerce platform provides integrated services
and supply chain financing service to suppliers and customers in
the foodservice industry.
JM Wowo always abides by the principle of
protecting its online platform’s interests. The Company will
maintain an optimum, healthy and orderly transaction environment
and comply with Chinese government e-commerce regulation and
Nasdaq’s regulation of public companies. JM Wowo will proactively
provide service in fine quality to China’s restaurants and
hotels.
Safe Harbor StatementThis
announcement contains forward-looking statements. These statements
are made under the “safe harbor” provisions of the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking
statements can be identified by terminology such as “aim”,
“anticipate”, “believe”, “estimate”, “expect”, “going forward”,
“intend”, “ought to”, “plan”, “project”, “potential”, “seek”,
“may”, “might”, “can”, “could”, “will”, “would”, “shall”, “should”,
“is likely to” and the negative form of these words and other
similar expressions. Among other things, statements that are not
historical facts, including statements about JM Wowo’s beliefs and
expectations, the business outlook and quotations from management
in this announcement, as well as JM Wowo’s strategic and
operational plans, are or contain forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: The general
economic and business conditions in China may deteriorate. The
growth of Internet and mobile user population in China might not be
as strong as expected. JM Wowo’s plan to enhance customer
experience, upgrade infrastructure and increase service offerings
might not be well received. JM Wowo might not be able to implement
all of its strategic plans as expected. Competition in China may
intensify further. All information provided in this press release
is as of the date of this press release and are based on
assumptions that we believe to be reasonable as of this date, and
JM Wowo does not undertake any obligation to update any
forward-looking statement, except as required under applicable
law.
About JM Wowo Limited
Wowo Limited currently operates China’s leading
B2B online e-commerce platform that provides integrated services to
suppliers and customers in the foodservice industry. With the help
of Internet and cloud technologies, the Company has the vision to
reshape the procurement and distribution pattern and build a fair
business ecosystem in the catering industry in China. The Company
is further promoting the use of its platform for small- and
medium-sized restaurants and restaurant chains in China.
Through cooperation with national and local
industry associations and reputable restaurant groups across China,
the Company has formed a leading industrial alliance and has great
resource leverage in China’s catering industry. The Company works
closely with suppliers and customers in the catering industry,
providing one-stop procurement services, as well as other
value-added services.
Contact:
Zhao Lichao IR Director
Wowo Limited
zhaolichao@ccjmu.com
Tel: 86-183 2119 5582
Bill Zima
ICR Inc.
bill.zima@icrinc.com
Tel: 203-682-8200
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