March 2015 Quarterly Trading Update
Hong Kong, April 20, 2015 AEST (ABN Newswire) - 99 Wuxian, (
ASX:NNW) ("99 Wuxian" or "the Company") the market-leading Chinese mobile commerce company is pleased to provide a trading update for the March 2015 quarter.
Highlights(1):
- Gross Transaction Value of RMB 2.6 billion, up 57% over the previous corresponding period
- Total registered user base of 42.9 million, up 46% from 31 March 2014
- 9.4 million transactions on the platform, up 76% over the previous corresponding period
- Revenue of RMB 34.7 million, up 26% over the previous corresponding period
Key performance metrics (RMB):
(see Appendix A for AUD summary metrics)
Quarterly period ending March 2014 March 2015 GrowthTotal number of transactions 5,336,453 9,385,877 76%Average Transaction Value 313 279 (11%)Gross Transaction Value 1,668,977,288 2,623,045,298 57%Platform revenue 27,496,083 34,675,348 26%Last 12 months ending March 2014 March 2015 Growth Registered users 29,338,565 42,951,042 46%Total number of transactions 25,813,968 37,356,900 45%Average Transaction Value 236 245 4%Gross Transaction Value 6,082,011,351 9,143,692,823 50%Platform revenue 126,040,118 171,424,917 36%
Registered users
The registered user base grew by more 13.6 million over the last 12 months, an average of more than 3.4 million new users per quarter. Growth in the registered user base continues to be driven by attracting new business partners to the platform and the success of joint marketing efforts with existing business partners as 99 Wuxian implements its disciplined strategy of expanding registered users within its network of current business partners.
Note 1: Key performance metrics are based on management accounts that have not been audited or reviewed.
Transactions
The number of transactions on the platform averaged 104,288 per day for the March 2015 quarter, compared with an average of 59,294 per day for the March 2014 quarter. The 76% increase in the number of transactions conducted on the platform has been driven by the growth in the registered user base and increasing levels of user engagement on 99 Wuxian's m-commerce platform.
Average Transaction Value ("ATV")
The ATV on the platform for the March 2015 quarter was RMB 279, down 11% over the previous corresponding period driven by changes in consumer behaviour, product mix as well as the impact of promotional discounts offered during marketing initiatives. The ATV for the 12 month period ending 31 March 2015 was up 4% compared to the prior 12 month period ending 31 March 2014.
Gross Transaction Value ("GTV")
GTV on the platform for the March 2015 quarter was RMB 2.6 billion, up 57% over the previous corresponding period. The growth in GTV was driven by the increase in the number of transactions and the change in ATV during the period.
Platform revenue
99 Wuxian generated revenue of RMB 34.7 million in the March 2015 quarter, up 26% over the prior period. Despite the rise in GTV, platform revenue was impacted by promotional discounts offered during marketing initiatives. 99 Wuxian offers promotional discounts to consumers by passing on a portion of the merchant commissions 99 Wuxian receives to consumers. Over the 12 month period ending 31 March 2015, platform revenue increased 36% compared to the 12 month period ending 31 March 2014.
To view table and appendix data, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-NNW-853408.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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