You totally miss the scale of what they are trying to achieve.
They do not want to start turning a profit at all, they want to continue to invest heavily in marketing and new channels to market as shown with insurance companies China Life etc and be the first online platform to offer the ability to spend bank reward points online. THIS IS HUGE, there is so many billions in reward points on the banks balance sheets that they want spent. The banks are behind NNW in this push and are putting their money where their mouth is.
Even the new China Union Pay collaboration will be on a scale not scene in Australia, they are effectively in bed with the government. Things can happen when you have the right connections in China.
The company is roadshowing for the first time as we speak to international institutions under the guidance of JP Morgan. Do you think they will be talking to the right people?
JP Morgan lead broker
NASDAQ listing
China Union (Gov) Business partner
Top 50 banks - Business partners
37 million users in first 2 years.
Aussies still struggle (MOAR profit they say). The Chinese run on a 5yr plan, NNW is 2 years in!
Tell me how much profit Amazon made this year? .........,000000000000000000000000000000
NNW Price at posting:
41.5¢ Sentiment: Buy Disclosure: Held
