JQW PLC Holding(s) in Company (3046I)

TIDMJQW

RNS Number : 3046I

JQW PLC

24 March 2015

 
 Press Release   24 March 2015

JQW plc

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

Holdings in Company

JQW plc, a domestic Chinese B2B e-commerce operator, has been informed that Universe Glory Enterprises Limited yesterday sold 2,000,000 JQW shares at 9p per share with the consent of Cairn and Argento and now holds 5,814,600 shares in JQW representing 3.00% 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 Officer           www.jqw-ir.com 
 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 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 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 871 million at September 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:

   11 million    Registered users 
   5 million      Page views per day 
   1,046,000   Sheng-Yi-Tong members with website "shops" 
   241,000      Fee-paying members as of 31 December 2014 
   600             Rated in the top 600 websites for global website traffic rankings 
   44               Sales agencies 
   2                 Top 3 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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