Quarterly Trading Update with 45% Annual Increase In Registered Users
Hong Kong, Oct 17, 2014 AEST (ABN Newswire) - Leading Chinese mobile commerce company 99 Wuxian Limited (
ASX:NNW) (NNWXF:OTCMKTS) ("99 Wuxian" or the "Company") is pleased to provide an update of trading for the September 2014 quarter.
99 Wuxian operates a mobile online market place, 99wuxian.com, in China, providing value-added application services to banks and merchants. The mobile online market place offers a variety of physical and virtual goods to consumers via a mobile banking application available on a smart phone or tablet.
99 Wuxian is a market leader in the Chinese business to business to consumer (B2B2C) m-commerce segment with more than thirty six million registered users.
The performance during the September quarter continues to demonstrate growth in all KPI's compared to the corresponding quarter last year.
September September Percentage 2013 2014 increase Quarter/end Quarter/endRegistered users (RU) 25,131,326 36,594,870 45.61%Gross Transaction Value (GTV) (RMB) 1,228,990,551 1,836,167,307 49.40% *AUD 229,975,777 343,594,182Total number ofTransactions (TNT) 7,087,775 9,282,571 30.97%Average Value perTransaction (AVT)(RMB) 173.40 197.81 *AUD 32.45 37.02 14.08%99wuxian.comPlatform Revenue (PR) (RMB) 33,663,729 42,015,362 *AUD 6,299,351 7,862,156 24.81%
* RMB converted to AUD at 15 September 2014 using RMB 5.3440 = AUD 1.00
Registered Users (RU)
- Growth in registered users (RU) continues in accordance with an established trend.
- Registered users at 30 September 2014 increased by 45.61% over registered users at September 2013, with 99 Wuxian adding an average of almost 2.8 million new RU's per quarter over the past year.
- Growth continues to be driven by a combination of new Business Partners joining the platform, and current Business Partners' promotional activities.
Gross Transaction Value (GTV)
- GTV Growth of 49.40% was driven by both 31.0% increase in total number of transactions and an increase in Average Transaction Value (ATV) of 14.08%.
- The Company's strategy to drive higher spend per RU from the existing user base continues to produce the desired result. Total Number of Transactions (TNT)
- TNT averaged 100,898 per day for the September 2014 quarter, compared with 77,041 per day in the September 2013 quarter, corresponding to a 31.0% year on year increase in number of transactions.
Average Transaction Value (ATV)
- ATV for the September 2014 quarter of RMB 197.81 was an increase of 14.08% over ATV for the September 2013 quarter.
- A key growth strategy for 99 Wuxian is to deepen relationships with users, thereby lifting the ATV. This process is enhanced through the company's programs with Business Partners in data mining initiatives.
- The B2B2C business model provides the company with access to well qualified users which the company believes will continue to enhance the ATV.
99wuxian.com Platform Revenue (PR)
- Platform revenue shows an increase of 24.81% compared with the corresponding quarter in 2013.
- 99 Wuxian has continued the implementation of a number of joint marketing initiatives with Business Partners, which contributes to the disproportionately higher rate of growth in Gross Transaction Value compared to overall Platform Revenue.
The company took the initiative and led the marketing promotion for a trial sale program for the very first time in the September quarter. Desired result has been achieved as expected from its strategy to leverage the B2C (business to customer) promotion to drive dynamic user acquisition, Follow this market promotion, the company planned to continue with other big mobile shopping activities on a regular basis in the future.
To view the quarterly update, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-NNW-823541.pdf
About 99 Wuxian Ltd
99 Wuxian Ltd (ASX:NNW) aggregates over 300 million high quality consumers and 155 leading merchants through a marketplace embedded within the mobile apps of China's leading banks, telecommunications and insurance companies. 99 Wuxian enables increased customer satisfaction, loyalty and retention for its business partners by offering consumers the lifestyle convenience of purchasing virtual and physical goods on a mobile device.
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