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| Monday, 12 October 2015, 08:00 HKT/SGT | |
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| Expand O2O Home Decoration Internet Platform to Boost the Long-term Steady Development of the Group |
HONG KONG, Oct 12, 2015 - (ACN Newswire) - Dongpeng Holdings Company Limited ("Dongpeng" or the "Company" and, together with its subsidiaries, the "Group", Stock Code:3386), the largest ceramic tile company in China, is pleased to announce that Guangdong Dongpeng Holdings Co., Ltd ("Guangdong Dongpeng"), an indirect wholly-owned subsidiary of the Company, entered into the First and Second Shares Transfer Agreement ("Share Transfer Agreements") with Mr. Fang Yunfeng, the Shareholder of Aifengchao (Suzhou) e-Commerce Co., Ltd. ("Aifengchao") (formerly known as Jintanglang (Suzhou) e-Commerce Co., Ltd.) on 9 and 26 September 2015 respectively. Pursuant to Share Transfer Agreements, Guangdong Dongpeng will acquire an aggregate of 20% equity interest in Aifengchao at the total consideration of RMB20,000,000.
 | | Dongpeng Holdings Company Limited(Stock Code: 3386) The Acquisition of 20% Equity Interest of Aifengchao at a Total Consideration of RMB20,000,000 |
Aifengchao was incorporated in the PRC on 6 June 2014 with limited liability. It is principally engaged in online to offline ("O2O") business. Aifengchao operates a home decoration internet platform "jzez.tmall.com" and has almost 400 offline experience centers in the PRC now, building a nationwide standard home decoration service system.
Mr. He Xinming, the Chairman of Dongpeng said, "Due to the increasing popularity and promising outlook of e-commerce business, we believe that the investment in Aifengchao will allow the Group to expand its sales channels through the e-commerce sales platform and capture the opportunity arising from the fast-growing e-commerce sector in China. In addition, the Group will continue to explore online sales opportunities on other online sales platforms, such as VIP Shop, Wechat Mall, and JD.com. Leveraging on the long-established Dongpeng brand, outstanding operational, marketing and logistics efficiencies, successful online sales experience, leading technological innovations and R&D capability, and direct access to the capital market after the IPO, Dongpeng will actively expand its business and optimize nationwide sales network, bringing returns to its shareholders."
About Dongpeng Holdings Company Limited
Dongpeng is the largest ceramic tile company in China in terms of retail sales for 2012*. Dongpeng designs, develops, produces, markets and sells a wide variety of ceramic tile and bathroom products under the Dongpeng brand. As at 30 June 2015, Dongpeng manages an extensive nationwide sales network with 2,556 retail outlets covering over 600 cities across China. Leveraging on its strong innovation and development capabilities, advanced SAP system and extensive nationwide sales network, Dongpeng will continue to strengthen its brand recognition, optimize its sales network, enhance its product mix and expand its bathroom products business, so as to solidify its leading market position. Dongpeng has been included by Morgan Stanley Capital International (MSCI) as a constituent of the MSCI Global Small Cap Indexes - China effective on 30 May 2014, representing the strong recognition from the investment community of the Company's leading position in the ceramic industry.
*These figures are based on an independent market research report commissioned by the Company prepared by Frost & Sullivan, an independent research firm, in October 2013) for the year 2013.
Topic: Press release summary
Sectors: Daily Finance
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From the Asia Corporate News Network
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