June 2015 Quarterly Trading Update
Hong Kong, July 21, 2015 AEST (ABN Newswire) - 99 Wuxian Ltd (
ASX:NNW) is pleased to provide a trading update for the June 2015 quarter.
Highlights(1):
- Gross Transaction Value of RMB 2.7 billion, up 58% over the prior corresponding period ("pcp")
- Total registered user base of 45.6 million, up 47% from 30 June 2014
- 10.8 million transactions on the platform, up 95% over the pcp
- Revenue of RMB 51.2 million, up 27% over the pcp
View the Key performance metrics (RMB)(1) and Appendix A for AUD summary metrics, in the link below.
Registered users
Registered users on the platform grew to 45.6 million, up 14.5 million over the last 12 months. This growth reflects the success of joint marketing campaigns conducted with business partners and increasing use of the platform by mobile banking users.
Transactions
The number of transactions on the platform averaged 119,566 per day for the June 2015 quarter, compared with an average of 61,189 for the June 2014 quarter. The 95% increase in the number of transactions has been driven by the growth of the registered user base and increasing levels of user engagement.
Average Transaction Value ("ATV")
The average value of all transactions completed on the platform for the June 2015 quarter was RMB 249, down 19% over the pcp. This result was expected given the proactive strategy of the Company to increase user engagement by growing the number of transactions and GTV generated on the platform through various marketing campaigns, including the use of promotional discounts.
Gross Transaction Value ("GTV") and platform revenue
For the June 2015 quarter, GTV on the platform was RMB 2.7 billion, up 58% over the pcp, with the Company generating RMB 51.2 million in revenue, a 27% increase over the pcp. The increase in GTV and revenue was primarily due to the growth in the size of the registered user base and number of transactions completed through the platform. The growth in platform revenue was impacted by promotional discounts offered during marketing initiatives. The Company continues to pass on a portion of the commission it receives from merchants to consumers in order to drive the growth of the platform.
To view the release including metrics, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-NNW-868201.pdf
(1) Key performance metrics are based on management accounts that have not been audited or reviewed.
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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