|
| Friday, 15 May 2020, 19:32 HKT/SGT | |
| |
|
|
|
|
| Proactively Captures Huge Opportunities from E-commerce Solutions and WeChat Pay Businesses |
HONG KONG, May 15, 2020 - (ACN Newswire) - Smartac Group China Holdings Limited (HKEX: 395, "Smartac" or the "Group") has announced its unaudited operating performance for the three months ended 31 March 2020 (the "Period").
Revenue for the Period reached approximately RMB22.0 million, representing a growth of around 411.6% as compared with approximately RMB4.3 million for the corresponding period of last year and equal to around 85.3% of the annual revenue of approximately RMB25.8 million for 2019. The significant increase in revenue for the Period was mostly attributed to the Group's strategic focus on developing the e-commerce solutions business through diversification of both its product offerings and client base.
Mr. Jeff Ho, Chief Executive Officer of Smartac, said, "The world is changing at a rapid pace. The ongoing developments in digital technology have created a digital retail landscape that is unrestricted by geography and offers vast opportunities for the development of e-commerce-related businesses. While the recent outbreak of COVID-19 presents a number of challenges around the world, it has set in motion consumers' behavioural changes notably pushing them to embrace e-commerce and e-payments. As the epidemic has gradually come under control in China along with the gradual resumption of business operations and production, consumer sentiment will be further released and we expect the e-commerce business will yield brilliant results in the future. To grasp the business opportunities, we have been proactively exploring opportunities to cooperate with leading brands around the world along with major e-commerce platforms and suppliers."
In this March, the Group has signed franchise agreements with international luxury lifestyle brand Stella McCartney, gaining the rights to sell its fashion apparel and accessories on the designated online sales platforms that it operates in the PRC. In April, the Group took a further step by forming a joint venture with Huakang Biomedical Holdings Company Limited (HKEX: 8622) for sale, marketing and distribution of fertility enhancing supplements.
Apart from the e-commerce solutions business, the Group has also noted the WeChat Pay industry which shows bright prospects in the long term. The Hong Kong government recently launched the Distance Business Programme under the Anti-Epidemic Fund to provide affected eligible enterprises with total funding of up to HK$300,000 to adopt IT solutions for developing distance business. In addition to providing online and offline WeChat Pay services to merchants, Smartac, as a partner of WeChat Pay, also assists in setting up WeChat official accounts, WeChat Mall and WeChat mini-programs through the WeChat ecosystem in order to attract users and help merchants expand their distance business, especially in the Greater Bay Area, in order to join hands to tap the business opportunities.
Mr. Ho added, "We believe that our e-commerce solutions business, together with our WeChat Pay business will have huge growth potential and put us on the right track for the long-term growth and development of the Group. We will prudently evaluate strategic investments and business opportunities with the aim of expanding our core business and generating long-term return on investment for shareholders."
About Smartac Group China Holdings Limited (HKEX: 395)
Smartac Group China Holdings Limited is an investment holding company. Through its subsidiaries, it provides (i) management, operation and market strategy of online shops and e-commerce platforms; (ii) electronic payment solutions and services; and (iii) software sales and O2O consultation services.
Topic: Press release summary
Sectors: Daily Finance, Daily News
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2026 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
|
|
|
|
Latest Press Releases
GMG Delivers Its First Ever Bulk Shipment of THERMAL-XR(R) to Nu Calgon in the USA
June 17, 2026 20:29 HKT/SGT
|
|
|
Truecaller Ads Launches 'Call-to-Cart', a New Commerce Surface Built on the Communication Layer 
June 17, 2026 18:00 HKT/SGT
|
|
|
Hitachi expands its work with OpenAI to accelerate AI-driven modernization and cybersecurity
Wednesday, June 17, 2026 1:54:00 PM
|
|
|
Fujitsu and IBM Japan collaborate on modernization to support enterprise digital transformation
Wednesday, June 17, 2026 1:23:00 PM
|
|
|
Sharp to Introduce AQUOS R11 Smartphone
Wednesday, June 17, 2026 12:59:00 PM
|
|
|
Honda to Begin Supplying Three High-output Models of the eGX Electric Power Unit Series for Commercial-Grade Work Equipment
Wednesday, June 17, 2026 12:44:00 PM
|
|
|
Eisai Announces Strategic Investment Supported by the UK Government's LSIMF
Wednesday, June 17, 2026 12:28:00 PM
|
|
|
BAE Systems and NEC Sign MoU to Strengthen Japan's Active Cyber Defence
Wednesday, June 17, 2026 12:10:00 PM
|
|
|
Anime Tokyo Station Early Summer Festival
Wednesday, June 17, 2026 10:00:00 AM
|
|
|
Everest Medicines Enters into Exclusive Licensing Agreement with Dimerix for DMX-200 in Greater China, South Korea and Southeast Asia
June 17, 2026 09:21 HKT/SGT
|
|
|
|
|
More Press release >> |
|
 |
|
 |
|
