BEIJING, Dec. 22, 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 the Company has signed a long-term strategic partnership agreement with MediaFun Creative Co. (MediaFun), a total solution service platform for cloud print services company based in Taiwan.
MediaFun's creative printing services platform allows non-professional users to complete the professional design process in a few minutes, and independently modify and print work by customers. The Company's main products include school graduation memento books, photobooks and personalized photo gifts such as photo albums, cards and other merchandise.
MediaFun's growth is being fueled by the substantial graduate market in Taiwan, which accounts for approximately 5% of the total population every year. Cloud printing is also being supported by the Taiwan government in an effort to update the traditional print industry. MediaFun sees this partnership opportunity as the beginning of a long-term growth strategy into the expanding China market. MediaFun currently has approximately 250 customers in Taiwan.
Under the terms of the agreement, ChinaNet will leverage its experience and advantages in the SME industry in China to help MediaFun expand its B2b2c market sales marketing to multiple of cities through mobile and internet. MediaFun will in turn share its cloud printing technology to help individuals utilize their print services throughout the China market. The two companies intend to share in profits and commissions under a joint venture agreement.
On December 22, 2014, a signing ceremony was held for the two companies at the Taiwan Trade Center of Beijing.
"We are excited to undertake this new strategic partnership with MediaFun, who is revolutionizing the field of print services," said George Chu, ChinaNet Online's Chief Operating Officer. "This cooperative agreement continues our ongoing efforts to expand our marketing and related value-added services for our clients. We in turn look forward to utilizing our deep experience in franchising and the China market to help MediaFun expand its business opportunities. This is a milestone for our company to help an overseas SME to efficiently expand its sales channel in China through ChinaNet services and technology."
About MediaFun Creative Co.
MediaFun Creative Co.,headquartered in Taiwan, is the first total solution service platform for cloud print services. Founded in 2006, focusing on the integration of prepress workflow, the cloud cultural and creative printing services platform it developed allows non-professional users to complete the professional design process in a few minutes, and independently modify and print work by customers. This service platform is widely used in all types of schools yearbook and personalized market in Taiwan. The main products are the school's graduation memento book, photo book series, personalized photo gifts, such as photo albums, cards, and personalized merchandise. Taiwan's Ministry of Economic Affairs approved the MediaFun as R & D subsidies unit; the company awarded several technical R & D subsidies, and selected the display manufacturers of Taiwan famous brand exhibition in 2014.
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 O2O 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.