Quarterly Update
Sydney, Oct 28, 2022 AEST (ABN Newswire) - Haodex Limited (
NSX:HAO) is pleased to update the market on its activities for the quarter ended 30 September 2022.
Highlights
- Franchisees continually grow steady in this quarter
- Global customers can now access the English version of the Bulkbuyworld ecommerce platform via mobile internet browser, the Bulkbuyworld official app (IOS and Android) and computer web browser
- Vendor/ seller platform in development for IOS and Android App
Updates on BulkBuyworld
BulkBuyworld is a wholesale and retail e-commerce marketplace that allows users and businesses to participate in group buying deals. BulkBuyworld enables merchants to set up an online store similar to the operation of Amazon and sell products from Chinese factories directly to all USA customers and businesses. On the Bulkbuyworld marketplace, Haodex generates revenue from sales commissions, membership fees and product listing fees.
Haodex has added 10 strategic partners to the channel partner programme this quarter, with a total of 139 partners, with wide coverage in six provinces in China and Sydney Australia.
Bulkbuyworld is now available in both Chinese and English versions via desktop/mobile internet browser, and can be downloaded from IOS and Android.
Bulkbuyworld has now completed the development of and officially launched the English version of the mobile web-browser interface on 18 September 2022. Global customers can easily access the Bulkbuyworld platform in multiple ways including desktop browser, mobile web-browser and the Bulkbuyworld apps via IOS and Android app stores. This is another milestone for Bulkbuyworld to approach the Global market and customers by expanding accessibility via multiple applications.
Bulkbuyworld continues to implement its business strategy of building a large online presence, attracting a large manufacturer network to provide thousands of products straight from the factory at lower prices.
Development of IOS and Android app for Bulkbuyworld sellers and vendors
Development of the Bulkbuyworld sellers app has commenced in September. This app will allow for sellers on the Bulkbuyworld ecommerce platform to easily manage their listings including sales and order management, product management, fulfilment and customer service. This app will be for Bulkbuyworld sellers only and will allow for convenient management of their online business.
Quarterly Cashflow
The Company ended the quarter with a cash balance of $1.77 million. Quarterly operating cash inflows for the period were $271k. During the September 2022 quarter, the aggregated amount of payments made to related parties and their associates totalled $39k for the director's fees.
COVID-19
The Company's operations in China have had to respond to the COVID-19 virus pandemic as a result of recent COVID control by the regional areas including Shanghai, Guangzhou, Beijing and Hangzhou. Marketing activities and expansion has been minimally impacted. However there have been some delays with site visits and finalising contracts due to travel restrictions, with a few marketing activities being postponed.
The Company's daily operations continue as normal with current initiatives being executed to acquire more merchants through its existing strategic partnerships and are in preparation of executing in-person marketing activities once released from the control of the local government.
The company expects that once restrictions are eased, the marketing and merchant acquisition initiatives will be able to be fully executed.
About Haodex Limited
Haodex Limited (NSX:HAO) is an Australian company focused on forward thinking online platforms and global projects.
Haodex owns 78% of and operates 2 omnichannel marketplaces, being MonkeyKing Australia (www.monkeykingaustralia.com) and BulkBuy (www.bulkbuyworld.com), and owns 100% of a short term Chinese accommodation hosting business, Franks Haus (www.frankshaus.com).
MonkeyKing is an online e-commerce platform which sources Australian products from Australian suppliers to distribute to consumers in Asia, mainly China.
BulkBuy is a wholesale e-commerce marketplace which allows users to participate in group buying deals. BulkBuy enables merchants to set up an online store and sell products directly to customers at wholesale prices by allowing several customers to participate in group buying deals (crowd-ordering).
Franks Haus is an online platform for leasing private properties, mainly for short term accommodation, in China. The platform will attract tourists
