LiNiu Technology Group (f/k/a Iao Kun Group Holding Company Limited) (“LINU” or the “Company”) (NASDAQ:LINU), which launched its electronic trading platform focused on the Chinese agricultural industry in April 2017 through Guangzhou LiNiu Network Technology Co., Ltd. (“Guangzhou LiNiu”), today announced that it has signed a strategic cooperation agreement with Shou Guang Agriculture Logistic Park ("SGALP"), one of the largest vegetable distribution, pricing, information exchanges and logistic centers in China and throughout Asia.
SGALP is a company approved by the China National Development and Reform Commission. The park has a total area of 3,000 acres with vegetable, fruit and agriculture material trading areas, as well as agriculture products processing, storage, logistic and services areas. SGALP had annual trading volume of vegetables, fruits and agricultural and sideline products of approximately 10 billion kg and valued at approximately RMB80 billion in 2016, and projects trading volume in excess of 10 billion kg and valued at over RMB80 billion in 2017.
Through the agreement, the companies will cooperate in connection with, among other things, product offerings, information resources, consumers and management of the logistic park. Guangzhou LiNiu will provide advanced technology to consolidate the Electronic Data Interchange ("EDI"), Radio Frequency ("RF"), Geographic Information System ("GIS"), Global Positioning System ("GPS"), and Intelligent Transportation Systems ("ITS") in order to grow the information management center of the logistic park. Both parties intend to create an integrated production, transportation, warehousing, deployment, sales and marketing ecosystem for vegetables. In addition, Guangzhou LiNiu will provide SGALP with access to Internet sales channels through its LiNiuYang trading platform, while SGALP allows Guangzhou LiNiu to access its production, sales, distribution and logistics big data.
Overall, LINU expects, through the cooperative agreement, that SGALP will increase its annual trading amount, while Guangzhou LiNiu will earn additional commission income though the increase in daily traffic on its platform.
“We are pleased to embark on our new relationship with SGALP, which we believe will be a key strategic alliance that should provide a significant boost to our LiNiuYang platform, while allowing us to further utilize our technological capabilities to the benefit of SGALP,” said Mr. Wang Shun Yang, co-Chief Executive Officer of LiNiu Technology Group.
About LiNiu Technology Group
LiNiu Technology Group (NASDAQ: LINU) recently launched the LiNiu Network, a Business to Customer (“B2C”), Customer to Customer (“C2C”) and Online to Offline (“O2O”) electronic trading platform focused on the Chinese agricultural industry. The Company also currently participates in the promotion of VIP gaming at the Altira Macau. For more information on the LiNiu Network, please visit www.liniuyang.com.
This press release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of the Company’s management, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. Factors that could cause actual results to differ materially from management's current expectations include but not limited to those risks and uncertainties relating to future business development; ability to maintain the reputation and brand; privacy and regulatory concerns; competition; security breaches; the continued growth of the e-commerce market in China; and fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law. Investors and potential investors should consult all of the information set forth herein and should also refer to the risk factors set forth in the Company’s Annual Report on Form 20-F filed in April 2017, and other reports filed or to be filed from time-to-time with the Securities and Exchange Commission.
Ryan Yip, +852 2111 9220