JQW PLC Statement re. Share Price (6207S)

TIDMJQW

RNS Number : 6207S

JQW PLC

25 September 2014

 
 Press Release   25 September 2014

JQW plc

("JQW" or the "Group")

Statement re. Share Price

The Directors of JQW plc, a domestic Chinese B2B e-commerce operator, are not aware of any reason for the recent fall in the share price.

The Directors are pleased with the performance of the Group in the first half of the current financial year and confirm that JQW continues to trade in line with current market expectations for the full year.

On 9 September 2014, the Group reported a strong set of interim results, which stated that revenues for H1-2014 had risen by 91% to RMB 346 million and that PBT and PAT in H1-2014 had risen by 48% to RMB 105 million and to RMB 78 million respectively. The Board also declared an interim dividend of 0.2 pence per share as well as a special dividend of 5.0 pence. The interim dividend as well as the special dividend will be payable around 23 October 2014 to shareholders on the register at the close of business on Friday 26 September 2014. The shares went ex-dividend on 24 September 2014.

- Ends -

For further information:

 
 JQW plc 
 Cai Yongde, Chairman                     Tel: +44 (0) 20 7398 
                                                          7714 
 Chen Daocai, Chief Executive Officer           www.jqw-ir.com 
 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 Allan     Tel: +44 (0) 20 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.

The Group currently has:

 
 10 million   Registered users 
 5 million    Page views per day 
  840,000     Sheng-Yi-Tong members with website "shops" 
  197,000     Fee-paying members as of 31 December 2013 
    700       Rated in the top 700 websites for global website 
               traffic rankings 
     35       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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