JQW PLC Holdings in Company (7082A)

TIDMJQW

RNS Number : 7082A

JQW PLC

24 December 2014

 
 Press Release   24 December 2014

JQW plc

("JQW", the "Group" or the "Company")

Holdings in Company

Further to the announcement on 19 December 2014, JQW plc, a domestic Chinese B2B e-commerce operator, has been informed that Midasi Investment Limited ("Midasi") has acquired 175,000 JQW shares and now holds 5,468,300 shares in JQW representing 2.8% of JQW's issued share capital.

Midasi has therefore bought back all the shares it had previously sold as it agreed to do and is now no longer in breach of its Orderly Market Agreement.

In addition, the Company has been informed that One Capital Group Investment Limited has sold 1.4 million shares in JQW with the consent of Cairn and Argento, and now holds 952,134 shares in JQW representing 0.5% of JQW's issued share capital

- 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 
 
 
 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) 
  Allan                                      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 in China in terms of traffic 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 recently has:

   10 million    Registered users 
   5 million      Page views per day 
   1,046,000   Sheng-Yi-Tong members with website "shops" 
   238,000      Fee-paying members as of 31 October 2014 
   700             Rated in the top 700 websites for global website traffic rankings 
   42               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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