South China city 22.5 million dollars for business-to-business Marco Polo

Absrtact: September 16 News, traditional enterprises are accelerating to the Internet domain transfer. South China City Holdings Limited (stock code: 01668. HK) announced today that its indirect joint-venture subsidiary, Time Epoch, signed an investment cooperation agreement with Marco Polo, a business-to-business E-commerce company. Marco

The September 16 News, traditional enterprises are accelerating to the Internet domain transfer. South China City Holdings Limited (stock code: 01668. HK) announced today that its indirect joint-venture subsidiary, Time Epoch, signed an investment cooperation agreement with Marco Polo, a business-to-business E-commerce company.

Marco Polo is one of China's largest business-to-business sourcing trading platforms, and under the agreement, time epoch will subscribe to 22.5 million US dollars (about HK $175.5 million) for Marco Polo's 7,058,824 B-Series preferred shares, accounting for about 19.05% of Marco Polo's shares.

South China city wholly owned business-to-business and consumer electric business platform South China City Network and OLE purchase network, South China City said, with the advantages of trade and logistics, with the Marco Polo network 12 million small and medium enterprises registered users and more than 500 million product information data, can form a nationwide customer deterioration product Information network.

The two sides will work to deepen the development of e-commerce services for SMEs, including the micro-business Alliance, O2O Business Ecosystem, internet financial services, warehousing logistics and commodity display, and jointly build a constantly perfect integrated online and offline business integration of small and medium enterprises eco-industrial chain.

Earlier, the South China city has also reached cooperation with Tencent, the two sides together to create a shopping platform Huasheng outlets start-up, by the South China City wholly-owned subsidiary Huasheng Business is responsible for operation, the current Huasheng outlets in Shenzhen, Xian, Nanning and Nanchang, South China City, four entities in the Austrian store, and Huasheng outlets online mall.

Huasheng outlets Micro-mall based on the real merchant, through the Tencent Micro-trust public platform to promote O2O full channel strategy, plan to cover the South China city entity platform of intelligent WiFi system to consumer shopping needs, to achieve micro-letter payment.