Le Lézard
Classified in: Science and technology, Business

Cogobuy Provides Business Update Seeing INGDAN.com Commercialization As Future Growth Driver



HONG KONG, Dec. 17, 2017 /PRNewswire/ -- Cogobuy Group ("Cogobuy" or the "Company", stock code: 400.HK), an e-commerce platform serving the electronics manufacturing industry in China, announces that the Company has gradually overcome the impact of its tightened credit facilities. Its direct sales business, which had reached a low point in the third quarter of 2017, has since gradually rebounded in the fourth quarter of 2017. The Company has also accelerated the collection of outstanding loans from its IngFin Financing Services to raise its internal cash ratio. Cogobuy anticipates the second half of 2017 is still profitable, and the growth of its direct sales business in the coming year will depend on the recovery of bank credit lines.  

The Company also adjusted its business focus by promoting a new "INGDAN.com Commercialization + IC Component Dual Business Model". The commercialization of INGDAN.com's projects has gradually become a major growth driver for the Company, adding significant growth to its new businesses including corporate services, technology transfers, and investment gains from potential projects.

Looking beyond the fourth quarter of 2017, the Company aims to further develop and promote INGDAN.com. With access to core AI technologies from well-known tech giants, INGDAN.com is targeting the traditional manufacturing technology upgrade market, and preparing for deeper collaboration with leading companies. During the second half of 2017, INGDAN.com entered a strategic partnership with Samsung Electronics Co., Ltd., to connect Samsung's ARTIKtm IoT Platform with INGDAN.com's users and supply chain ecosystem, helping customers capture opportunities in China's Trillion-RMB IoT market. Samsung ARTIKtm is the latest end-to-end integrated IoT solutions platform, and the partnership with Samsung ARTIKtm will strengthen INGDAN.com's capacity to provide turn-key AI solutions for chips, software, cloud, and data services, and to assist companies in upgrading or developing AI-enabled products and services.

Mr. Jeffrey Kang, CEO of Cogobuy Group, said, "Although the growth in our direct sales business was lower than our original plan due to tightened bank facilities, our Company is moving in the right direction. We are gradually reducing our reliance on our traditional IC components business, transforming our corporate development strategy, and expanding revenues from corporate services and projects investment gains. Additionally, INGDAN.com has incubated numerous projects in AI, intelligent hardware, and chips. For example, we have incubated a robotic business and brought it to commercialization, we expect to achieve monetization of this robotic business in the next few months. Looking ahead to 2018, our Group will be focusing on AI adoption and commercialization, and launching more projects in this area." 

About Cogobuy Group

Cogobuy Group is an e-commerce service platform serving the electronics manufacturing industry in China. Through the e-commerce platform, which includes a direct sales platform, an online marketplace, and a dedicated team of technical consultants and professional sales representatives, the Company provides customers with comprehensive online and offline services across pre-sale, sale, and post-sale stages. For further information, please refer to the Company's website at http://www.cogobuy.com/

About INGDAN.com

INGDAN.com is a platform dedicated to connecting global intelligent hardware entrepreneurs and China-based supply chain resources. The platform provides information on hardware innovation, supply chain data, and supply chain demand docking for global IoT innovators and entrepreneurs. It is a one-stop hardware innovation business platform with its core being the "supply chain." For further information, please refer to the Company's website at http://www.ingdan.com/

This press release is issued by Financial PR (HK) Limited on behalf of Cogobuy Group.

SOURCE Cogobuy Group


These press releases may also interest you

at 16:00
Itinerary for the Prime Minister, Justin Trudeau, for Monday, January 22, 2018: All times local. Ottawa, Ontario 8:45 a.m. The Prime Minister will depart for Davos, Switzerland. Canada Reception Centre (Hangar 11)...

at 10:00
Cheapinsuranceforyoungdriver.com has released a new blog post explaining how much can a good student discount help someone save on auto insurance. Although young drivers pay more for auto insurance, they can also benefit from a unique discount....

at 08:48
International Bank of Qatar (ibq) strongly denies any involvement in the alleged proposal worth $15.56 billion to Lega Serie A, the top Italian football division, regarding the League's broadcasting rights.      (Logo:...

at 08:21
- In partnership with Community Jameel and collaboration of strategic partners Riyada, Omantel and Zain Group as a digital partner - Money prizes exceed 160,000$; Final Award ceremony in Oman, 19 April 2018 The MIT Enterprise Forum (MIT EF) of the...

20 jan 2018
Within its first 48 hours of release, World of Ether, a new Ethereum based game, sold almost $500,000 of digital eggs in its "egg presale." These eggs hatch into digital monsters upon launch of the full game. World of Ether, also called WoE, takes...

20 jan 2018
In the fast-moving 21st century with a 7-billion strong population ? accessing any consumer service requires identity information ? signing up on websites, e-commerce checkouts, accessing private properties, buying bitcoins, or getting loans....




News published on 17 december 2017 at 02:17 and distributed by: