LiNiu Technology Group Announces Strategic Cooperation Agreement with Shou Guang Agriculture Logistic Park
29 August 2017 - 10:00PM
Business Wire
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.
Forward-Looking Statements
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170829005374/en/
LiNiu Technology GroupRyan Yip, +852 2111
9220ryany@liniuyang.com
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