HONG KONG, Dec. 17, 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 its INGDAN.com (Hardeggs platform), China's largest and most engaging interactive online community for intelligent hardware, will cooperate with WeChat to hold the first WeChat IoT Innovation Contest (the "Contest"). Based on the device access function of the WeChat public platform, INGDAN.com, co-sponsor of the Contest which focuses on supply chain resources for hardware innovators and startups, will provide professional support to participating teams to turn their ideas into mass production by leveraging on INGDAN.com's powerful strengths in resource integration of the hardware industry. INGDAN.com will also work closely with WeChat to identify the major trends of the Internet of Things ("IoT"), in search of outstanding designs of intelligent hardware that can access the WeChat platform.
WeChat and INGDAN.com provide full supply chain support to the Contest, which not only includes molding, printed circuit board ("PCB"), prototyping and IC components, but also covers development boards and cloud services, with Top-notch international and domestic partners such as Texas Instruments China, Broadcom China, Qualcomm, Marvell China, Ayla Networks and Gizwits, among others. The Contest runs from December 2014 to May 2015, covering eight competition divisions of Beijing, Shanghai, Wuhan, Shenzhen, Guangzhou, Hangzhou, Wuxi and Shunde.
Jointly hosted by the WeChat and INGDAN.com teams, the public briefing for the Contest will be held at the Shenzhen Marco Polo Hotel on 18 December. Mr. Jin Gui, Senior Director of the innovation department of the WeChat platform, together with Ms. Liu Hongjiao, Cogobuy's Vice President of marketing, will deliver speeches at the briefing, where representatives will also share case studies of intelligent hardware products from various industries on the WeChat platform and introduce outstanding intelligent hardware products that link with WeChat in the IoT ecosystem.
Mr. Jeffrey KANG, Executive Director, Chairman and Chief Executive Officer of Cogobuy Group, said, "The WeChat public platform is now open for device access, which enables hundreds of millions of WeChat users to connect with intelligent hardware. The Contest aims to identify excellent intelligent hardware designs that can link to the WeChat platform. It is expected that this will attract a large number of innovation startups as well as traditional hardware companies that will transform their current products into intelligent hardware with the help of the Internet. INGDAN.com of Cogobuy, co-sponsor of the Contest, will fully leverage on our strengths in supply chain resources to offer hardware manufacturing support to participants who lack hardware development and manufacturing capabilities, to convert their outstanding design concepts into mass production. INGDAN.com will work closely with WeChat to encourage design and development of outstanding intelligent hardware as well as to explore and strengthen the IoT trend. While leading this new era of hyper-connectivity of intelligent devices, we will develop INGDAN.com into a global IoT platform, fostering a hardware ecosystem focusing on the supply chain, accelerating Cogobuy's growth pace to realize its 100 billion-size GMV goal."
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About INGDAN.com
INGDAN.com is China's largest and most engaging interactive online community for intelligent hardware. Fostering a hardware ecosystem focusing on the supply chain, INGDAN.com is committed to developing into the largest global IoT platform.
For more details please visit http://www.ingdan.com/about/ingdan.
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. 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)".
For investor enquiries, please contact Ms. Wanyee HO / Ms. Amy GUO at ir@cogobuy.com.
Issued by Porda Havas International Finance Communications Group for and on behalf of Cogobuy Group. For further information, please contact:
Porda Havas International Finance Communications Group
Mr. Paul Sham +852 3150 6730 paul.sham@pordahavas.com
Ms. Camille Xiong +852 3150 6799 camille.xiong@pordahavas.com
Mr. Daniel Ip +852 3150 6767 daniel.ip@pordahavas.com
Ms. Ivy Lu +852 3150 6778 ivy.lu@pordahavas.com
Ms. Jessica Li +852 3150 6702 jessica.li@pordahavas.com
Fax: +852 3150 6728
