Quarterly Update
Sydney, Jan 31, 2023 AEST (ABN Newswire) - Haodex Limited (
NSX:HAO) is pleased to update the market on its activities for the quarter ended 31 December 2023.
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 USA customers and businesses. On the Bulkbuyworld marketplace, Haodex generates revenue from sales commissions, membership fees and product listing fees.
Haodex has developed different entry levels for the channel partner to facilitate the channel partner programme, adding upwards of 60 strategic partners this quarter, with more than 200 channel partners. The programme has wide coverage in six provinces in China and Sydney, Australia. Haodex has channel partners in the following geographic areas: Sichuan, Beijing, Guangdong, Zhejiang, Jiangxi and Hainan province.
Haodex assists the strategic channel partner to develop premium merchants, which have export facilities and capability to increase the popularity and facilitate the development of manufacturers and merchants for the platform.
The new C2C and B2B functions of the English version of Bulkbuyworld platform are now complete. Merchants on the platform now have the option to easily sell in bulk with wholesale pricing structures simply displayed on their listing. Customers can access both retail and wholesale listings of the platform through the simple app design. This development is pushing Bulkbuyworld closer towards a one-stop-shop app, and will attract merchants and manufacturers to the platform.
For the quarter ending 31 December 2022, Bulkbuy received revenue of $2.78 million Chinese Yuan (AUD$619k).
Haodex is working with the world's premium payment platform Zai
Haodex has partnered with Zai, a stable, scalable and sophisticated platform to provide Haodex payment solutions that simplify complex payment flows. Zai is Worldpay's global partner, allowing Zai to accept cards globally as well as enable 3D Secure 2.0, real-time fraud detection, and digital wallets, Apple Pay(R) and Google Pay(R) to customers. Zai has Bank-grade security and processing volumes and global compliance reach to facilitate overseas expansions.
Haodex can collect payments via several payment methods and disburse funds or pay bills via various ways. Zai provides secure payment solutions that deal entirely with multiple currency payments considering the platform customers from the US market and merchants from China.
Zai also provides a complete business dashboard for Haodex to have a business overview, user information and payment management, which will assist Haodex in having a comprehensive strategic review.
Centralised Procurement in China
Haodex is building a centralised procurement centre in China mainly for quality control, assessing all export products coming from local manufacturers. The quality control system maintains the level of product quality, removing and returning the products which haven't reached the standard and back to the manufacturers.
Quarterly Cashflow
The Company ended the quarter with a cash balance of $1.97 million. Quarterly operating cash inflows for the period were $206k. During the December 2022 quarter, the aggregated amount of payments made to related parties and their associates totalled $56k for the director's fees.
*To view the full quarterly report, please visit:
https://abnnewswire.net/lnk/F0IW604J
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
