JM Wowo Announces Partnership with Shanghai Chunmin Internet Financial Information Service Co., Ltd. to Establish Supply Chai...
September 06 2016 - 8:45AM
Wowo Limited (the “Company”) (NASDAQ:JMU), a leading B2B online
e-commerce platform that provides integrated services to suppliers
and customers in the foodservice industry in China, today announced
that the Company entered into a strategic cooperation agreement
with Shanghai Chunmin Internet Financial Information Service Co.,
Ltd. (“Chunmin”) on September 3rd, 2016.
With China’s large catering and foodservice B2B
market and JM Wowo’s fast-growing B2B business, JM Wowo and Chunmin
reached a strategic cooperation agreement to jointly build a supply
chain finance company to provide JM Wowo’s B2B customers related
services, including order factoring, credit granting service on the
platform, financing and leasing as well as other aspects of supply
chain finance services.
Additionally, JM Wowo and Chunmin will further
discuss the cooperation in detail and begin planning the framework
of the supply chain finance company’s construction. In
particularly, they will blueprint the business model of the supply
chain finance company to efficiently support transactions on JM
Wowo’s online marketplace.
Chunmin has deep resources and professionally
experienced in the supply chain finance arena and is optimistic
about JM Wowo’s favorable trend in B2B restaurant and hotel
business development. Chunmin shares the same outlook with JM
Wowo’s management team about China’s supply chain finance market
and has strong confidence in setting up and operating the supply
chain finance company together with JM Wowo in the future.
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
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