JQW PLC Launch of International B2B E-commerce Platform (1588L)

TIDMJQW

RNS Number : 1588L

JQW PLC

02 July 2014

 
 Press Release   2 July 2014

JQW plc

("JQW" or the "Group")

Launch of international B2B e-commerce platform

JQW plc (AIM:JQW), a domestic Chinese B2B e-commerce operator, announces that today the Group has launched www.jqwmall.com, its English Language B2B e-commerce platform which has been developed to attract international members as well as to promote the Group's fee-paying members in China to a global market.

The launch of www.jqwmall.com represents an important milestone for the Group and a further deployment of the funds raised at the time of the Group's admission to AIM in December 2013 in accordance with the Group's stated use of proceeds at that time.

The Group has established jqwmall.com as a B2B e-commerce platform in English to allow certain of the JQW's premier members and other new quality local suppliers to consider expanding their sales internationally. However, it is the Group's intention at the early stages to open this site only to members in industries where there is an international price competitive position and where there are lower barriers for exports. Goods sold through www.jqwmall.com will be subject to a commission to JQW and payment will be delivered via either PayPal or by credit cards including Visa and MasterCard.

Chen Daocai, Chief Executive Officer of JQW, said: "The launch of our international B2B e-commerce platform is a significant step in the Group's corporate development and we are pleased that it has been delivered on time and on budget. We are working hard on both the search engine optimisation ("SEO") and marketing of this new platform, however we are delighted that we can now offer our fee-paying members direct access to the global export market.

"We believe that the commission generated through www.jqwmall.com will deliver a new source of income for the Group and will provide increased revenues for both our members and JQW as a whole."

- Ends -

For further information:

 
 JQW plc 
 Cai Yongde, Chairman               Tel: +44 (0) 
                                    20 7398 7714 
 Chen Daocai, Chief Executive     www.jqw-ir.com 
  Officer 
 Kooi Wei Boon, Chief Financial 
  Officer 
 
 
 Argento Capital Markets Limited 
 Alan MacKenzie / Jim McGeever               Tel: +44 (0)20 
                                                  7093 0353 
 alan.mackenzie@argentocapital.net   www.argentocapital.net 
 
 
 Cairn Financial Advisers LLP 
  (Nomad & Broker) 
 Sandy Jamieson / Liam Murray     Tel: +44 (0)20 
                                       7148 7900 
                                www.cairnfin.com

Media enquiries:

 
 Abchurch Communications Limited 
 Henry Harrison-Topham / Quincy            Tel: +44 (0)20 
  Allan                                         7398 7714 
 jqw@abchurch-group.com            www.abchurch-group.com

About JQW plc

JQW is a leading domestic business-to-business e-commerce provider based in the Chinese province of Jiangsu. The Group's core business is its online B2B platform, www.jqw.com, which has been developed to encourage domestic trade by connecting Chinese SMEs with potential trade partners. Founded in 2004, the platform was developed to help to market Chinese SME's websites. JQW has evolved rapidly to become the second highest ranked B2B e-commerce website and operates, what the director's believe to be, the first dedicated B2B search engine, www.jqw.cn.

JQW offers a low-cost entry point for Chinese SMEs to promote themselves and their B2B products to potential buyers. In order to increase transaction opportunities, JQW offers its clients a broad range of services including website design, commercial search services and advertising.

There are approximately 49 million SMEs in China manufacturing a diverse range of products, accounting for 60% of the country's GDP. The number of mobile internet-access users in China stood at 839 million at February 2014 and there is a considerable amount being invested into the country's telecommunications infrastructure. These factors have driven an increased demand for domestic trade of B2B, B2C and C2C e-commerce. With the majority of these SMEs requiring the use of third party B2B e-commerce platforms to promote their businesses and access trade partners, the Board believes that JQW offers a robust and highly reputable branded platform. With exposure in over 50 industry sectors and considerable scope for future growth, JQW is in a strong position to capitalise on the development of this market.

For the year ended 31 December 2013, JQW reported a 71% increase in revenues to to RMB493.1 million, which was significantly ahead of market expectations (2012: RMB 287.8 million). Profit before tax also more than doubled to RMB 171.4 million (2012: RMB 84.1).

As at 31 December 2013, the Group had:

 
 10 million   Registered users 
 5 million    Page views per day 
  840,000     Sheng-Yi-Tong members with website 
               "shops" 
  197,000     Fee-paying members 
    700       Rated in the top 700 websites for 
               global website traffic rankings 
     36       Sales agencies 
     2        Second (behind Alibaba) in Chinese 
               B2B website traffic rankings

This information is provided by RNS

The company news service from the London Stock Exchange

END

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