BEIJING, Sept. 15, 2022 (Globe NEWSWIRE) — ZW Knowledge Action Systems, Inc. (Nasdaq: CNET) (“ZW Data” or the “Corporation”), an integrated on-line promoting, precision promoting, information analytics, and other price-included solutions corporation, today declared that it has signed a letter of intent (“LOI”), and has formally proposed an acquisition provide to Henan Baodun Information and facts Engineering Co., Ltd (“Baodun”). Pursuant to the LOI, the offer value and phrases will be negotiated and decided upon completion of due diligence, and the completion of the transaction is envisaged in the fourth quarter of 2022. Upon the completion of the acquisition, Baodun will turn into a wholly-owned subsidiary of the Business, and will remain its independency in operation to present a person-cease eCommerce internet marketing provider solutions and whole agency operation providers for clients.
Baodun is a full-assistance world wide web advertising and marketing organization integrating material marketing and advertising, marketing impact optimization and brand name internet marketing. Baodun has the detailed agency qualification like ByteDance and Kuaishou, and can give world-wide-web promoting and marketing methods on multiple consumer aspect products platforms, which includes but not confined to toutiao.com, ixigua.com, TikTok and Kuaishou. Its key cooperating shoppers incorporate SF Convey, Belle, and Tongrentang. Baodun generated around $50 million in annualized income in 2021 and expects to go on developing with a double digit’s growth fee this yr.
The strategic acquisition of Baodun is meant to boost ZW Data’s competitiveness inside the marketplace and primarily in the limited video clip system market. The addition of Baodun, with each other with the Company’s latest knowledge in promotion, would considerably strengthen the Company’s strengths in short video advertising and marketing, merchandising and marketing business spots, and broaden the social eCommerce business to onboard a new growth level. The Firm expects that this acquisition will push a meaningful enhance in shorter and long-term ZW Data’s profits.
“We are energized to announce this prepared acquisition of Baodun. The small video clip industry has expansive growth prospect, and nowadays, social media platforms these kinds of as TikTok and Kuaishou have billions of buyers domestically and internationally. The elite veterans of Baodun are primarily situated in Zhengzhou, Henan Province and Guangzhou, Guangdong Province. We are really thrilled that the founder of Baodun, Ms. Ning Lv, as a person of the most skilled ECommerce operators in China, will sign up for the Company with the administration team on the completion of the transaction. The addition of the new workforce will accelerate the development of our limited video clip merchandising capabilities and enhance our determination to creating a main merchandising company in China. We believe that this acquisition will travel the diversification of our business, variety a new profit development point, and improve the profitability to convey around and prolonged-expression values for shareholders,” commented Handong Cheng, Chairman and Main Executive Officer of ZW Details.
About ZW Info Motion Systems Inc.
Proven in 2003 and headquartered in Beijing, China, ZW Knowledge Motion Systems Inc. (the “Company”) features on-line advertising, precision internet marketing, data analytics and other value-extra providers for organization clientele. Leveraging its completely built-in services system, proprietary database, and slicing-edge algorithms, ZW Knowledge Motion Technologies provides custom-made, outcome-driven enterprise solutions for smaller and medium-sized organization consumers in China. The Organization also develops blockchain and artificial intelligence enabled web/cellular applications and software package alternatives for the typical public, organization clients, and authorities organizations. Additional info about the Corporation can be identified at: http://www.zdat.com/.
Protected Harbor Statement
This release contains particular “forward-looking statements” relating to the company of ZW Info Action Technologies Inc., which can be identified by the use of forward-looking terminology these kinds of as “believes,” “expects,” “anticipates,” “estimates” or similar expressions. These types of ahead-looking statements require recognised and mysterious hazards and uncertainties, together with business enterprise uncertainties relating to authorities regulation of our field, market place desire, reliance on important personnel, long term funds needs, level of competition in normal and other things that may induce genuine effects to be materially distinctive from these explained herein as predicted, thought, believed or predicted. Certain of these pitfalls and uncertainties are or will be explained in bigger element in our filings with the Securities and Trade Fee. These ahead-wanting statements are based on ZW Data Motion Technologies Inc.’s recent expectations and beliefs regarding upcoming developments and their opportunity effects on the Company. There can be no assurance that future developments affecting ZW Information Motion Technologies Inc. will be people predicted by ZW Facts Motion Technologies Inc. These forward-hunting statements entail a range of challenges, uncertainties (some of which are beyond the command of the Enterprise) or other assumptions that may perhaps cause genuine final results or overall performance to be materially diverse from people expressed or implied by these forward-searching statements. ZW Data Action Systems Inc. undertakes no obligation to publicly update or revise any forward-hunting statements, irrespective of whether as a end result of new details, foreseeable future events or if not, other than as may perhaps be necessary underneath relevant securities laws.
For a lot more info, be sure to make contact with:
Weitian Group LLC
E-mail: [email protected]
Phone: +1 718-213-7386