ChinaNet Online Holdings Adds New Strategic Investors
August 13 2012 - 7:30AM
ChinaNet Online Holdings, Inc. (Nasdaq:CNET) (the "Company"), a
leading B2B (business to business) Internet technology company
focusing on 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, today announced
that one of the Company's founding shareholders entered into a
stock purchase agreement with the founder and Chairman of Ever
Bright Investment Capital (the "EBI") and another accredited
investor, pursuant to which the founding shareholder sold 1,279,080
shares of common stock of the Company for $3 million, or
approximately $2.35 per share.
"We are delighted to add new strategic investors," stated George
Chu, Chief Operating Officer of ChinaNet Online Holdings, Inc. "As
a high growth company focusing on expanding its product suite and
customer base, the Company will benefit from Mr. Qiu's expertise
and resources in helping high growth companies attract talent,
upgrade management systems, and find strategic partners. We will
also benefit from his network of political and industry contacts
that will further enhance our growth initiatives, especially in the
south and south east regions in China."
Established in 2004, EBI is a leading private equity firm in
China that focuses on investments in undervalued private Chinese
companies and public Chinese companies listed in foreign markets.
EBI has invested in dozens of growth companies such as China Grand
Auto (see http://www.chinagrandauto.com/), Zhengzhou Coal Mining
Machinery (A-share 601717), Rongsheng Heavy Industries (1101: HK).
EBI has been elected as one of the TOP 50 PEs in China by both
China Venture (see http://www.chinaventure.com.cn/) and Zero2IPO
Group (see http://www.zero2ipogroup.com/) in 2011, with offices in
Beijing, Chengdu and Shanghai.
About ChinaNet Online Holdings, Inc.
The Company, a parent company of ChinaNet Online Media Group
Ltd., incorporated in the BVI ("ChinaNet"), is a leading B2B
(business to business) Internet technology company focusing on
providing O2O (online to offline) 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
Tel: +1-760-755-2716
Email: thaberfield@mzgroup.us
Web: www.mzgroup.us
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