Transcription of Finance News Network Interview with 99 Wuxian Limited (ASX:NNW) Chief Executive, Amalisia Zhang
Carolyn Herbert: Hello I’m Carolyn Herbert from the Finance News Network and joining me from 99 Wuxian Limited (ASX:NNW) is Chief Executive, Amalisia Zhang. Amalisia, welcome to FNN.
Amalisia Zhang: Thank you Carolyn.
Carolyn Herbert: Can you start by giving us an introduction to the company?
Amalisia Zhang: A lot of people are asking me what 99 Wuxian means. Wuxian in Chinese means wireless and unlimited. 99 Wuxian actually is in the wireless sector, the mobile commerce sector. By connecting to our business partners, financial institutes, the banks, insurance companies, providing their customer a lifestyle of services, like mobile top up, utility bills, electronic coupons. We are one of the best and the number one in this sector, for the m-commerce platform.
Carolyn Herbert: What’s the m-commerce and e-commerce development in China?
Amalisia Zhang: That’s a big question. In China right now, it’s the second largest GDP in the world and also China maintains 6.2 per cent, growing each year. And e-commerce and m-commerce is one of the key drivers in all the economic sectors. Such as in 2010, the m-commerce was only three per cent of the total e-commerce and retailing. However, growth last year was 15 per cent. It was also projected in 2020 it will become 24 per cent in the sector. The growth of the m-commerce sector is great.
Carolyn Herbert: Turning to your financials now. Can you give us a snapshot of the company?
Amalisia Zhang: 99 Wuxian right now has a AUD$130 million market cap and also this year, we have over 60 million registered users. And also in the financial year of 2016, the first-half compared to last year, the total revenue of 99 Wuxian this first-half of 2016 is around AUD$26 million. And it is 52 per cent growth compared to last year. Also the EBITDA is growing 112 per cent and also the NPAT growing 28 per cent, compared to last year.
Carolyn Herbert: What’s the company’s cash position and your revenue targets for FY17?
Amalisia Zhang: I don’t think we should really talk about the projection, but we are very confident of the growing of the company. If you look at the last three years after we listed on the ASX, our growing of the EBITDA and the revenue is more than 50 per cent. So we believe in 2017, we will still maintain the strong growth, because this is the most exciting sector m-commerce in China.
Carolyn Herbert: Finally Amalisia. What’s your focus for the company for the next 12 months?
Amalisia Zhang: In the coming 12 months, I think because in 99 Wuxian we have three major businesses; one is the marketplace, where the customer pays by cash. Second is the ICS, it’s more on the rewards point program. The third one is the IBS; it’s more on the employees benefit. Our focus in the coming year is more on the B2B service side, which relates to the rewards point program and also for the employees benefit. And we’re trying to maintain our existing business partners to work with us in the new sector.
Carolyn Herbert: Amalisia Zhang, thank you for the update.
Amalisia Zhang: Thank you, Carolyn.
ENDS
NNW Price at posting:
11.0¢ Sentiment: None Disclosure: Held
