Non-wholly Owned Subsidiary of Reach New Holdings Limited Develops a Mini Program
HONG KONG,June 8,2020 -- An established labelling solution provider and a one-stop garment accessories manufacturer and supplier based in the PRC,Reach New Holdings Limited (the "Reach New Holdings" or the "Company",Stock code: 8471.HK),is pleased to announce that Guangzhou Banchengyun Information Technology Co. Ltd. ("Guangzhou Banchengyun"),a non-wholly owned subsidiary of the Company,will concentrate on developing a mini program for small businesses. The mini program follows further improvements in the Company's information technology layout,which will help cultivate a new engine for the Company's performance growth.
As early as 24 April,2020,Reach New Technology (Huizhou) Company Limited,a wholly owned subsidiary of the Company,entered into a Cooperation Agreement with Guangzhou Bancheng Information Technology Co. Ltd,to jointly establish Guangzhou Banchengyun. Guangzhou Banchengyun will utilize its internal resources -- including funds,human capital,and technology -- to launch a mini program to help small businesses develop and grow,adopting the Company's virtuous cycle business model. Additionally,the Company will partner with Guangzhou Banchengyun,which is also the arm of the Company's information technology business segment,to develop the market in Hong Kong as well as strengthen the educational concept and application training of the Guangdong-Hong Kong-Macao Greater Bay Area markets. The new initiative will form a dual engine of professional services for all online small businesses in the Greater Bay Area,in line with the established fund use of the Hong Kong listed company.
Guangzhou Banchengyun is primarily engaged in providing one-stop digital solutions for online businesses' customer operations,from building domain traffic to sales conversion. The company helps business owners optimize their online customer relations,launch products and introduce services,and empowers business operations and customer relationships to enhance customer repurchases and increase revenue. Leveraging its abundant resources and professional technical team,Guangzhou Banchengyun has grown rapidly. Its Live Broadcast Distribution System recently achieved considerable income for one of the Shenzhen's leading fitness brands during a single live streamed event. Guangzhou Banchengyun was also successfully selected as the WeChat Mini Program Service Provider for the first "Guangzhou Live Festival",organized by the Guangzhou Municipal Bureau of Commerce this year,fully utilizing Guangzhou Banchengyun's strengths to empower the local information technology industry.
Mr. Lam Kai Yuen,CEO of Reach New Holdings Limited said,"Facing the new realities of the post-pandemic economy and Chinese government's policies strongly advocating the 'Nationwide Business Opportunity Creation',China's information technology industry is positioned for a period of rapid development,and it is the high time to deploy mini programs for the nation'ssmall businesses. The Company will fully support Guangzhou Banchengyun's business development,and capture opportunities in the Greater Bay Area by cooperating with Guangzhou Banchengyun's expansion in Hong Kong. With the synergies between Guangzhou Banchengyun's co-founding party,we believe that Guangzhou Banchengyun will create a new fast track for the Company's business,position us for performance growth,and create a leap in the development of our Company."
About Reach New Holdings Limited (stock code: 8471.HK)
Reach New Holdings Limited,listed on GEM of HKEx in July 2017,stock code: 8471.HK,is an established labelling solution provider and a one-stop garment accessories manufacturer and supplier based in the PRC,mainly engaging in three types of products which are (i) printed products,(ii) woven labels,and (iii) printed labels;. The Company also sources and sells other garment accessories,such as tapes,hanging tablets,string locks,leather badge,buttons,and metal products,to the customers in the PRC.With its good reputation,the Company is committed to providing quality products and service to customers include (i) garment brand companies,(ii) sourcing companies designated by garment brand companies,and (iii) garment manufacturers in the PRC. For more details,please refer to:
http://www.sthl.com.hk/tw/index.html
