Appendix 4C - June 2015 Quarterly Cash Flow Report
Hong Kong, July 31, 2015 AEST (ABN Newswire) - 99 Wuxian, (
ASX:NNW) ("99 Wuxian" or "the Company") is pleased to provide its Appendix 4C quarterly cash flow report for the period ending 30 June 2015. The Company increased its cash balance to RMB 34.1 million, with net cash inflows for the quarter of RMB 7.7 million.
99 Wuxian generated net operating cash flow of RMB 9.2 million for the quarter. The cash inflow was underpinned by increased quarterly revenue and a disciplined approach to operating cash flow management given the working capital requirements associated with the growth of the loyalty point redemption business and prepayments to enable real-time virtual product delivery.
99 Wuxian continues to invest in the future growth of the business. During the period the Company launched numerous marketing campaigns in conjunction with its business partners including offering promotional discounts to customers. In addition the Company continued to recruit high quality staff and deliver new product initiatives, such as iBenefit.
The Company also continues to perform strongly and deliver upon its strategy of increasing user engagement, with both the number and gross transaction value ("GTV") of products sold on the platform growing significantly. During the quarter, 10.8 million transactions were undertaken through the platform, up 95% over the prior corresponding period ("pcp"). GTV for the quarter was RMB 2.7 billion, up 58% over the pcp with GTV from the loyalty point redemption business totalling RMB 697.0 million.
To view the report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-NNW-869925.pdf
About 99 Wuxian Ltd
99 Wuxian Ltd (ASX:NNW) aggregates over 300 million high quality consumers and 155 leading merchants through a marketplace embedded within the mobile apps of China's leading banks, telecommunications and insurance companies. 99 Wuxian enables increased customer satisfaction, loyalty and retention for its business partners by offering consumers the lifestyle convenience of purchasing virtual and physical goods on a mobile device.
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