JQW PLC Temporary Suspension of Operations (6170Z)
2015年9月21日 - 3:00PM
RNSを含む英国規制内ニュース (英語)
TIDMJQW
RNS Number : 6170Z
JQW PLC
21 September 2015
21 September 2015
JQW plc
("JQW" or the "Company")
Temporary Suspension of Operations
On 19 September 2015, the Company received an Administrative
Penalty Decision Letter ("Decision Letter"), dated 17 September
2015, that has imposed penalties of a fine of RMB 18,000 and a
one-month suspension of operations for violations of the
Advertisement Law of the People's Republic of China, the
Advertisement Management Regulations, and the Prohibition of
Pyramid Selling Regulations. The Decision Letter was issued by the
local Administration of Industry and Commerce (the "AIC") following
an investigation of the Company's operations after the AIC received
a complaint from the public that certain advertisements on the
Company's B2B website platform violated advertisement
regulations.
The violations of advertising regulation arise from client
websites that the Company hosts on its website, www.jqw.com. As a
result of the penalties imposed, the website has been suspended for
a one month period. The Company is reviewing its internal controls
and procedures established to monitor client websites for potential
breaches of online advertising regulation, and is working closely
with the AIC in order to ensure that all client websites are fully
compliant and that the suspension of operations can be lifted at
the end of the one month period.
A further announcement will be made in due course.
- Ends -
For further information:
JQW plc
Cai Yongde, Chairman Tel: +44 (0)
20 7398 7710
Chen Daocai, Chief Executive www.jqw-ir.com
Officer
Francis Chan, Chief Financial
Officer
Cairn Financial Advisers LLP
(Nomad & Broker)
Sandy Jamieson / Liam Murray Tel: +44 (0)
20 7148 7900
www.cairnfin.com
Media enquiries:
Abchurch Communications Limited
Quincy Allan / Viktoria Langley Tel: +44 (0)
20 7398 7716
jqw@abchurch-group.com www.abchurch-group.com
About JQW plc
JQW is a leading domestic business-to-business e-commerce
provider based in the Chinese province of Jiangsu. The Group's core
business is its online B2B platform, www.jqw.com, which has been
developed to encourage domestic trade by connecting Chinese SMEs
with potential trade partners. Founded in 2004, the platform was
developed to help to market Chinese SME's websites. JQW has evolved
rapidly to become one of the top three B2B e-commerce website in
China in terms of traffic and operates, what the Director's believe
to be, the first dedicated B2B search engine, www.jqw.cn.
JQW offers a low-cost entry point for Chinese SMEs to promote
themselves and their B2B products to potential buyers. In order to
increase transaction opportunities, JQW offers its clients a broad
range of services including website design, commercial search
services and advertising.
There are approximately 50 million SMEs in China manufacturing a
diverse range of products, accounting for 60% of the country's GDP.
The number of mobile internet-access users in China stood at 871
million at September 2014 and investment in the country's
telecommunications infrastructure continues to accelerate. These
factors have driven an increased demand for domestic trade of B2B,
B2C and C2C e-commerce. With the majority of these SMEs requiring
the use of third party B2B e-commerce platforms to promote their
businesses and access trade partners, the Board believes that JQW
offers a robust and highly reputable branded platform. With
exposure in over 50 industry sectors and considerable scope for
future growth, JQW is in a strong position to capitalise on the
development of this market.
At the end of 2014, the Group had:
11 million Registered users
5 million Page views per day
1,046,000 Sheng-Yi-Tong members with website "shops"
241,000 Fee-paying members
600 Rated in the top 600 websites for global website traffic rankings
44 Sales agencies
3 Top 3 in Chinese B2B website traffic rankings
This information is provided by RNS
The company news service from the London Stock Exchange
END
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September 21, 2015 02:00 ET (06:00 GMT)
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