2 Jun 2014 16:15
Press Release | 2 June 2014 |
JQW plc
("JQW" or the "Group")
Annual Report and Accounts
Notice of Annual General Meeting
JQW plc, a domestic Chinese B2B e-commerce operator, announces that its Annual Report and Accounts for the year ended 31 December 2013 together with a Notice of Annual General Meeting and Form of Proxy have been posted to shareholders today. These are available from the Company's investor relations website at http://www.jqw-ir.com in accordance with AIM Rule 20.
The Company's Annual General Meeting will be held at 10.30 a.m. on Wednesday 25 June 2014 at the offices of Abchurch Communications Limited, 16th Floor, 125 Old Broad Street, London EC2N 1AR.
- 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 |
36 | Sales agencies |
2 | Second (behind Alibaba) in Chinese B2B website traffic rankings |