BEIJING, Dec. 1, 2014 (GLOBE NEWSWIRE) -- ChinaNet Online Holdings, Inc. (Nasdaq:CNET) ("ChinaNet" or the "Company"), a leading B2B (business to business) Internet technology company providing online-to-offline (O2O) sales channel expansion services for small and medium-sized enterprises (SMEs) and entrepreneurial management and networking services for entrepreneurs in the People's Republic of China, announced today that its subsidiary Liansuo.com has signed 6 new customers in October of 2014, for a total of 244 customers, or 59% increase over the 153 reported at the end of 2013.
Through its active marketing program that includes traditional and online advertising, trade shows and referrals, Liansuo.com has successfully added recent new clients including Rongshida, a household appliances brand, now has 4500 stores and 12,000 online stores across the country; Kam Tai Cheung Jewelry, a gold chain shop from Hong Kong, as well as 2700 stores in China; Peepul Aroma Cosmetics, a well-known brand in China and Korea; and CDE Fashion Jewelry, a retail jewelry outlet.
"Liansuo.com has achieved remarkable growth in the mid-size to large segment of the market," said George Chu, ChinaNet's Chief Operating Officer. "We continue to focus our efforts on this large and growing market by offering cost effective advertising and value-added services to franchisors, and we are pleased with the number of new customers and growth we have accomplished since last year. We will offer our comprehensive suite of fully integrated advertising, marketing and management solutions for the clients, and help them continue to expand and increase their customer base. Our success in adding new clients stems from the quick results our franchisors are experiencing using Liansuo.com. New client Peepul Aroma Cosmetics signed a franchise shop in just nine days after listing on Liansuo.com, and CDE Fashion Jewelry signed a franchise shop immediately after listing as well. In addition, Rongshida's market share will reach 55% in 2018 with Liansuo.com's marketing services."
About ChinaNet Online Holdings, Inc.
The Company, a parent company of ChinaNet Online Media Group Ltd., incorporated in the BVI ("ChinaNet"), is a leading digital B2B (business to business) Internet technology company focusing on providing RMB sales channel expansion service for small and medium-sized enterprises (SMEs) and entrepreneurial management and networking service for entrepreneurs in China. The Company, through certain contractual arrangements with operating companies in the PRC, provides Internet advertising and other services for Chinese SMEs via its portal websites, 28.com, Liansuo.com and Chuangye.com, TV commercials and program production via China-Net TV, and in-house LCD advertising on banking kiosks targeting Chinese banking patrons. Website: http://www.chinanet-online.com.
This release contains certain "forward-looking statements" relating to the business of ChinaNet Online Holdings, Inc., which can be identified by the use of forward-looking terminology such as "believes," "expects," "anticipates," "estimates" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including business uncertainties relating to government regulation of our industry, market demand, reliance on key personnel, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. These forward-looking statements are based on ChinaNet's current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting ChinaNet will be those anticipated by ChinaNet. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the Company) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by such forward-looking statements. ChinaNet undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.