ChinaNet Online Holdings Announces Partnership Agreement With Korean BBQ Chicken Restaurant Chain
September 21 2015 - 8:46PM
ChinaNet Online Holdings, Inc. (Nasdaq:CNET) ("ChinaNet" or the
"Company"), a leading B2B (business to business) Internet
technology company providing online-to-offline (O2O) sales channel
expansion services for small and medium-sized enterprises (SMEs)
and entrepreneurial management and networking services for
entrepreneurs in the People's Republic of China, announced today
that it has signed a strategic partnership agreement with Korean
based Genesis BBQ Global Co., Ltd. to help expand its "BBQ Chicken"
restaurant chain in China.
BBQ Chicken, founded in 1995, is a well-known franchise
restaurant chain in Korea for fried chicken, and "Best of the Best
Quality (BBQ)". Today, the company has locations in 59 countries
with more than 7,000 outlets in the regions of Asia Pacific, the
Middle East, Africa, North America, South America and Europe. BBQ
Chicken plans to open over 500 of its restaurants in China in
2015.
Genesis BBQ Chicken and ChinaNet have signed a partnership
agreement to expand the Chinese market, create a one-stop
purchasing service platform and plan an active online to offline
marketing program that includes traditional and online digital
advertising, trade shows and referrals. In the next six years,
ChinaNet plans to help Genesis BBQ Chicken open 10,000 franchisees
in a mix of restaurants and stall shops in 3rd to 5th tier cities
across China. Upon the success of opening 10,000 franchisees,
franchise fees and revenues will be shared. These franchisees will
all be equipped with Business Direct 3.0 solutions for further big
data analysis and operation optimization.
The fried chicken market in China has evolved significantly,
with an increasing sophistication of Chinese diners looking for
new, popular brands, and the need for new healthier options for
patrons. BBQ Chicken uses 100% olive oil for frying, giving the
brand an extra edge over other competing names by providing
customers a tasty yet healthy variety of food. As well, Korean pop
culture is a top export to China, accounting for 23.9% of total
exports, or about 123 billion RMB. Last year a Korean movie drama,
"My Love from the Star", showcased fried chicken and beer culture
with its unique glamour, winning a large audience in China.
"This is the second major Korean brand which ChinaNet will now
be introducing to China," said George Chu, Chief Operating Officer
of ChinaNet Online Holdings. "We are rapidly expanding on our plan
to bring unique overseas businesses into China in the form of
franchises or chains. We will also help guide and nurture these new
businesses to profitability using our brand management and Business
Direct 3.0 solutions. Through the future success of these brands,
we will demonstrate our capability as a major big data player in
China and around the world."
About Genesis BBQ Global Co., Ltd.
Genesis BBQ Global Co., Ltd owns BBQ Chicken, the Korea's No. 1
Chicken Restaurant. It's not barbeque, but it's BBQ (Best of the
Best Quality). Founded in 1995, BBQ Chicken has grown to become the
No. 1 franchise brand in Korea. Within four years after its
existence, it opened its 1,000th outlet in Korea, followed by the
world's first and only Chicken University in 2000. BBQ Chicken is
also the 1st F&B Franchise Brand to be selected as the Korea's
TOP 100 Brands. In 2003, BBQ Chicken began to expand its business
globally. Today, it is present in 59 countries with more than 7,000
outlets in the region of Asia Pacific, Middle East, Africa, North
America, South America and Europe. BBQ Chicken is the first brand
that uses 100% Olive Oil for frying, thus giving the brand an extra
edge over other competing names by providing customers a tasty yet
healthy variety of food. Its Chicken University in Korea is a
professional education institution that trains its business
associates the business know-how from the understanding of
franchise business to the business mind and cooking. The R&D
Centre in the Chicken University, which houses more than 30
professional food researchers, is at the cutting edge of BBQ
Chicken's continuous product improvement, while developing an
appropriate localized menu to maximize customers' satisfaction
worldwide. For more information, visit www.bbqchicken.com.my.
About ChinaNet Online Holdings, Inc.
The Company, a parent company of ChinaNet Online Media Group
Ltd., incorporated in the BVI ("ChinaNet"), is a leading digital
B2B (business to business) Internet technology company focusing on
providing O2O sales channel expansion service for small and
medium-sized enterprises (SMEs) and entrepreneurial management and
networking service for entrepreneurs in China. The Company, through
certain contractual arrangements with operating companies in the
PRC, provides Internet advertising and other services for Chinese
SMEs via its portal websites, 28.com, Liansuo.com and Chuangye.com,
TV commercials and program production via China-Net TV, and
in-house LCD advertising on banking kiosks targeting Chinese
banking patrons. Website: http://www.chinanet-online.com.
Safe Harbor
This release contains certain "forward-looking statements"
relating to the business of ChinaNet Online Holdings, Inc., which
can be identified by the use of forward-looking terminology such as
"believes," "expects," "anticipates," "estimates" or similar
expressions. Such forward-looking statements involve known and
unknown risks and uncertainties, including business uncertainties
relating to government regulation of our industry, market demand,
reliance on key personnel, future capital requirements, competition
in general and other factors that may cause actual results to be
materially different from those described herein as anticipated,
believed, estimated or expected. Certain of these risks and
uncertainties are or will be described in greater detail in our
filings with the Securities and Exchange Commission. These
forward-looking statements are based on ChinaNet's current
expectations and beliefs concerning future developments and their
potential effects on the Company. There can be no assurance that
future developments affecting ChinaNet will be those anticipated by
ChinaNet. These forward-looking statements involve a number of
risks, uncertainties (some of which are beyond the control of the
Company) or other assumptions that may cause actual results or
performance to be materially different from those expressed or
implied by such forward-looking statements. ChinaNet undertakes no
obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required under applicable securities
laws.
CONTACT: MZ North America
Ted Haberfield, President
Direct: +1-760-755-2716
Email: thaberfield@mzgroup.us
Web: www.mzgroup.us
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