HONG KONG, August 28, 2014 /PRNewswire/ -- SGOCO Group, Ltd. (Nasdaq: SGOC), ("SGOCO" or the "Company"), a company focused on product design, distribution and brand development in the China display market, today announced a new on-line sales platform on JD.com to accelerate the delivery of high quality service and products. SGOCO takes a significant step towards the development of e-commerce through this arrangement. With the sharing of vision and strengths, the agreement will allow both parties to drive new growth opportunities.
By signing the new distribution agreement, SGOCO agrees to provide the best-priced, exclusive and competitive products to JD.com for online direct sales. The new arrangement enhances the cooperation between these two companies and demonstrates SGOCO's commitment to establish new distribution channels and its vision of offering customers the latest products to satisfy the demand of online trading platforms.
JD.com is one of the largest Chinese based e-commerce platform and online direct sales company in terms of transaction volume. It was listed on NASDAQ in 2014. According to iResearch, it gained 54.3% market share in Chinese online direct sales market in the second quarter of 2014. Its excellent customer service and high reputation in the industry have earned solid customer base and contributed to the popularity in social network.
Regarding the newly launched sales platform, Mr. David Xu, Director, President and CEO of SGOCO, commented, "SGOCO takes a decisive step further towards the implementation of e-commerce and the alliance is a key strategy for the Company. We are excited to cooperate with JD.com and confident that the positive cooperation can create unique and meaningful new growth opportunities. Developing new distribution channels enables our products to be more accessible to our customers and further expand our customer base."
He added, "We are constantly looking for potential e-commerce partners and are happy to team up with JD.com, a reliable and progressive company which will support our strategy initiatives. Consumers can enjoy superior online retail experience and comprehensive customer services with the new distribution channel. In line with our transformation plan, we are eager to increase our participation in the e-commerce market in the future."
About SGOCO Group, Ltd.
SGOCO Group, Ltd. is focused on product design, brand development and distribution in the Chinese display market, including computer monitors, All-In-One (AIO) and Parts-In-One (PIO) computers and application specific products. SGOCO sells its products and services in the China market and abroad. For more information about SGOCO, please visit our investor relations website http://www.sgocogroup.com .
Safe Harbor and Informational Statement
This announcement contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company set forth herein and those preceded by or that include the words "believe," "expect," "anticipate," "future," "will," "intend," "plan," "estimate" or similar expressions, are "forward-looking statements". Forward-looking statements in this release include, without limitation, the effectiveness of the Company's multiple-brand, multiple channel strategy and the transitioning of its product development and sales focus and to a "light-asset" model, Although the Company's management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. These forward-looking statements can change as a result of many possible events or factors not all of which are known to the Company, which may include, without limitation, requirements or changes adversely affecting the LCD and LED market in China; fluctuations in customer demand for LCD and LED products generally; our success in promoting our brand of LCD and LED products in China and elsewhere; our ability to have effective internal control over financial reporting; our success in designing and distributing products under brands licensed from others; management of sales trend and client mix; possibility of securing loans and other financing without efficient fixed assets as collaterals; changes in government policy in China; the fluctuations and competition in sales and sale prices of LCD and LED products in China; China's overall economic conditions and local market economic conditions; our ability to expand through strategic acquisitions and establishment of new locations; compliance with government regulations; legislation or regulatory environments; geopolitical events, and other events and/or risks outlined in SGOCO's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F and other filings. All information provided in this press release and in the attachments is as of the date of the issuance, and SGOCO does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For investor and media inquiries, please contact:
Kathy Ko
Investor Relations Officer
Tel: +852 2501 0128
US: +1(646) - 5831616 (Voice mail)
Email: ir@sgoco.com
