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SMIT Acquires 13.33% Issued Shares of Mainsweb Ventures Strategically into Cross-border E-Commerce

release time:18-05-2017 Article Source:

SMIT Acquires 13.33% Issued Shares of Mainsweb Ventures Strategically into Cross-border E-Commerce O2O Smart Terminal Business

(Hong Kong, 18 May 2017) – SMIT Holdings Limited (“SMIT” or the “Company,” together with its subsidiaries, the “Group”) (stock code: 2239), a global leading CAM supplier and a major mPOS supplier

in China, announced the subscription of approximately 13.33% of the total issued share of Mainsweb Technology (Shenzhen) Company Limited* (盟山科技(深圳)有限公司) (“Mainsweb”) at a consideration of RMB20 million, marking its venture into cross-border e-commerce O2O smart terminal business to capture development opportunities that comes with booming overseas online shopping activities.

Mainsweb, which operates a one-stop cross-border e-commerce platform in China, has helped over 200 foreign suppliers, or more than 500 brands, enter the China market. The products brought in included daily necessities for mothers and infants, beauty and cosmetics items, healthcare products and others. At present, a large portion of cross-border e-commerce transactions in China take place on the online

platforms. To help offline retailers to capture the development opportunities presented by cross-border e-commerce and to face the challenges created by the intense competition from online shopping, last

year, SMIT and Mainsweb co-developed an online to offline (“O2O”) smart terminal. The terminals,equipped with special sensors, allow consumers to conveniently place orders for foreign products on-site

in local stores. Mainsweb plans to continue to place these O2O smart terminals especially in small and medium cities in China. As a strategic investor, SMIT will be the sole supplier of Mainsweb’s O2O smart terminals. Through the strategic partnership, SMIT can leverage its technologies to provide smart terminals required by Mainsweb. This not only brings synergies to the Group’s business, but also enables

SMIT to further explore additional income streams in order to develop high gross profit products.

Mr. Huang Xueliang, Chairman of SMIT, said, “Capitalizing on SMIT’s own advantages in the smart security POS field and the strategic cooperation with Mainsweb, the Group will be able to expand its

business to overseas online shopping markets rich with opportunities. Moreover, we will be able to help offline retailers capture development opportunities presented by cross-border e-commerce and effectively

counter the challenges in the rapidly growing and increasingly competitive online shopping market.”

* For identification purpose only

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