Full Recognition of Future Development of Innovative E-commerce Model
HONG KONG, Nov. 24, 2014 /PRNewswire/ — Cogobuy Group ("Cogobuy" or the "Company", stock code:400.HK), a leading e-commerce company with the largest transaction-based e-commerce platform for IC and other electronic components in China, is pleased to announce that the Company has been adopted recently as a constituent of the MSCI Global Small Cap Indexes – China Index, effective from the market close on 25 November 2014.
Morgan Stanley Capital International ("MSCI") is a leading provider of global equity indices and benchmark related products and services to investors worldwide. MSCI indices have become the most widely used international equity benchmarks by institutional investors. The MSCI Global Small Cap Indexes – China Index aims to measure the performance of the small cap equities in the China market, covering companies with good operational results and potential. In the semi-annual index review, 48 listed companies including Cogobuy Group have been adopted as constituents of the MSCI Global Small Cap Indexes – China Index.
Mr. Jeffrey KANG, Executive Director, Chairman and Chief Executive Officer of Cogobuy Group, said, "We are honored to become a constituent of the MSCI Global Small Cap Indexes. It reflects a full recognition from the capital market on the Company’s performance and business prospects. It is a great encouragement to us and attributable to the Company’s clear and unique business development strategy as well as our steady growth in business, among which our INGDAN.com (Hardeggs platform) has been getting more attention and recognition from the market as well as support from entrepreneurs and investors. They have full confidence on the Company’s future development."
Mr. Kang emphasized, "We will continue to play a key role in the rapidly growing vertical market of the electronic manufacturing industry. We will spare no effort to work towards the 100 billion-size GMV goal and developing INGDAN.com to be a global platform for Internet of Things."
About MSCI Equity Indexes and MSCI Global Small Cap Indexes – China Index
The MSCI (Morgan Stanley Capital International) Equity Indexes are indicators available for reference for global investment compiled by Morgan Stanley Capital International Inc. (NYSE: MSCI). The indexes cover global equities across different industries, countries and regions. They are widely adopted and taken as reference by investors in Europe and the US and boast strong indicative influence in investment decision-making in the global equity markets. Among these indexes, the MSCI Global Small Cap Indexes – China Index comprises a series of national indexes, composite indexes, domestic and overseas indexes and is under the MSCI Global Small Cap Indexes. It aims to measure the performance of the small cap equities in the China market.
About Cogobuy Group
Cogobuy Group ("Cogobuy" or the "Company", stock code: 400.HK) is a leading e-commerce company with the largest transaction-based e-commerce platform for IC and other electronic components in China, as measured by GMV in 2013. Cogobuy is dedicated to serving the electronics manufacturing industry in China covering blue-chip customers and SMEs, which is a potentially lucrative and fast-growing segment of the market with a significant demand for the Company’s services. In 2013, the Company fulfilled orders with a GMV of approximately RMB3.9 billion. From 2011 through 2013, the Company sold products primarily through its direct sales platform, which accounted for substantially all of its revenues since its inception. It also generates revenues by charging commission fees to third-party merchants who sell products and services through its marketplace platform. The Company is also devoted to promoting idea and knowledge exchanges among electronics designers and engineers in China through new media marketing events, such as product launches and technology discussion forums in social media platforms such as Weibo and TechWeb. The Company also launched an interactive and engaging online community called "INGDAN.com (‘Hardeggs’ WeChat community)".
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