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Neo Telemedia - P2P Lending Platform Business of Bluesea Mobile Group and Avatar Reaps Substantial Profit
HONG KONG, Aug 14, 2015 - (ACN Newswire) - Neo Telemedia Limited ("Neo Telemedia" or the "Group;" stock code: 8167), with Internet-based services and big data as its core businesses, has announced its unaudited interim results for the period ended 30 June 2015.
The acquisitions of the Group in the beginning of this year, namely Guangdong Bluesea Mobile Development Co., Ltd.*("Bluesea Mobile") and Guangdong Avatar Wealth Investment Management Co., Ltd.* ("Avatar Wealth") (collectively referred to as "Bluesea Mobile Group") have recorded a satisfactory return on investment during the period under review, which helped enhance overall profit growth in the interim results. Within a short period of three months, Bluesea Mobile Group has contributed revenue of approximately HK$10.77 million to the Group and recorded a profit of more than HK$4 million.
While multiple strategic acquisitions completed in the review period are beginning to reap benefits, there is still room for further growth. On 1 April 2015, the Group completed the acquisition of Bluesea Mobile Group. Upon the completion of the acquisition of Bluesea Mobile Group, the Group is positioned to optimize the opportunities in the Internet and big data era, and develop and operate businesses on mobile Internet commercial WIFI platforms, an Internet data center and a cross-border e-commerce platform in China.
Meanwhile, through Bluesea Mobile's 70% owned subsidiary, Avatar Wealth, the Group has launched its peer-to-peer lending platform business, a comprehensive lending platform, offering lenders and borrowers a channel to match their needs encompassing housing loans, automobile loans, accounts receivables, supply chain and industry financing, leasing assets and pawn loans. Avatar Wealth provides simplified, convenient and flexible financing solutions to both SME's and individual borrowers.
Guangdong Bluesea Technology Company Limited*) ("Bluesea Technology"), a wholly-owned subsidiary of the Company, has set up a joint venture with Shandong Inspur Cloud Computing Industry Investment Company Limited*), namely Guangdong Inspur Bluesea Cloud Computing Company Limited*) ("Guangdong Inspur Bluesea"), to establish a large cloud computing center in Southern China. Leveraging Guangdong Inspur Bluesea's foundation and rapid growth in Guangdong as well as its brand awareness, the Group can solidify a business presence in Guangdong based on big data and Internet services.
China already has the world's largest population of Internet users and with the expanding penetration of the Internet, the Group continues to focus on business relating to the Internet and big data services. The Group also expects the peer-to-peer lending platform business operated by Avatar Wealth to bring [considerable/substantial] profits to the Group.
Contact:Strategic Financial Relations Limited
Joanne Lam Tel: 852-2864 4816 Email: joanne.lam@sprg.com.hk
Grace Lai Tel: 852-2114 4313 Email: grace.lai@sprg.com.hk
Caley Chan Tel: 852-2864 4950 Email: caley.chan@sprg.com.hk
Fax: 852-2527 1196
Source: Neo Telemedia Limited
Sectors: Daily Finance
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