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HONG KONG, June 16, 2015 - (ACN Newswire) - Neo Telemedia Limited ("Neo Telemedia" or the "Group;" stock code: 8167) has engaged in restructuring its business organization to optimize opportunities in the internet and big data era starting last year. During the financial year, the Group has acquired the entire equity interest of Guangdong Wei Hai Mobile Development Company Limited* ("Wei Hai Mobile"); and its wholly-owned subsidiary Guangdong Wei Hai Technology Company Limited* ("Wei Hai Technology") and partnered with Shangdong Inspur Group to form a joint venture, Guangdong Wei Hai Inspur Cloud Computing Company Limited, ("Guangdong Inspur Wei Hai") intended to establish a large cloud computing centre in Southern China.
Besides, the Group has introduced a mobile internet cloud computing and peer-to-peer (P2P) internet financial project through the launch of a P2P lending platform business by its indirectly 70%-owned subsidiary Guangdong Avatar Wealth Investment Management Co., Ltd. ("Avatar Wealth"). In line with the government's policy of "Internet Plus" development, the Group aims to establish an integrated data transfer, mobile marketing and sales, and financial transaction system.
Neo Telemedia currently owns the entire equity interest of Wei Hai Mobile, which is mainly engaged in the operation of a mobile and internet commercial WIFI platform, an internet data center and a cross-border e-commerce platform. Wei Hai Mobile's key investment project, "Blue sea-free WIFI," is a mobile and internet commercial WIFI platform covering 20,000 data connection hotspots across 11 districts in Guangzhou linking schools, offices, popular gathering spots such as shopping malls and areas, industrial parks, hotels, F&B outlets, leisure resorts, government departments, hospitals, etc.
The internet data center of Wei Hai Mobile has T3 standard green racks in Luogang, Guangzhou, Foshan, Jiangmen and Taishan, providing integrated services focusing on server co-location to government departments and corporate users. Wei Hai has established a joint venture with Inspur to develop cloud computing services as well as to sell and provide maintenance services for all of Inspur's information technology products in Guangdong.
In addition, Wei Hai Mobile's cross-border e-commerce platform provides an online and offline interactive e-commerce platform located in a 200,000 square meters "B-Type Bonded Logistics Park" within Foshan International Furniture Expo Mall, as well as an O2O store. Wei Hai has also signed a strategic cooperation agreement with China Postal Express & Logistics in order to secure support in the areas of logistics and customs clearance, shipment arrangement, partner collaboration, etc.
Guangdong Inspur Wei Hai is a joint venture formed by the Group and Inspur Yun Hai Investment Holdings Company Limited, with each party providing a capital injection of 40% and 60% respectively. Guangdong Wei Hai Inspur Cloud Computing Company Limited mainly operates cloud computing, e-commerce and big data businesses. Leveraging Guangdong Inspur Wei Hai's foundation and rapid growth in Guangdong as well as its brand awareness, the Group can solidify a business presence in Guangdong and expand its business to Southern China and Southeast Asia.
In addition, on 9 May 2015, the Group has officially commenced its P2P lending platform business through Guangdong Avatar Wealth Investment Management Co., Ltd, its 70% indirectly-owned subsidiary. Avatar Wealth's e-lending focuses on the large wealth investment management platform operating in peer-to-peer and peer-to-business modes. It offers a full range of products to lenders comprising housing loans, automobile loans, account receivables, supply chain and industry financing, leasing assets and pawn loans, and provides simplified, convenient and flexible financing solutions to both SME's and individual borrowers.
With the increasing popularity of big data applications and Internet communication in the cities of China, achieving better management of corporate finance and corporate costs have spurred greater demand for the support of Internet-based businesses, Wifi platforms and Internet database centers.
In recent years, the increasing need of Chinese enterprises for finance has created a strong demand for P2P Internet services. In May 2015 alone, the monthly transaction volume of P2P Internet finance services in China has reached RMB 60.962 billion, a substantial 2.7 times increase when compared to the same period last year. For the year-to-date, the accumulated transaction volume of the P2P online lending industry in China has exceeded RMB 600 billion. Based on the current growth momentum, market expectations are for the annual transaction volume of P2P online lending to exceed RMB 800 billion in 2015. Besides, the P2P online lending industry has continued to attract capital, experience acquisitions by listed companies and generate a steady stream of news in relation to investment during May. These factors have driven the notable rise in market value of concept stocks and a consensus of optimism about the development prospects of the P2P online lending industry from external sectors, which should eventually increase the valuation of the online lending platform.
Moreover, The National Committee of Development & Reform has initiated the 'Internet Plus' action plan to promote the transformation and upgrade of existing traditional industries. As for our strategy, optimizing the service supervision model is the focus of the next round of strategic efforts. We believe that Avatar Wealth's e-lending] platform featuring a strict modern corporate management system and a professionally planned business model has great potential to become a leading P2P Internet financial company in China.
*formerly called Guangdong Wei Hai Mobile Network Company Limited
Contact:
Strategic Financial Relations Limited
Joanne Lam, Tel: 852-2864-4816, Email: joanne.lam@sprg.com.hk
Grace Lam, Tel: 852-2114-4313, Email: grace.lai@sprg.com.hk
Caley Chan, Tel: 852-2864-4950, Email: caley.chan@sprg.com.hk
Fax: 852-2527-1196
Topic: Company reorganization
Source: Neo Telemedia Limited
Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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