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Cogobuy

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Cogobuy Group
Company typePublic
SEHK: 400
IndustryConsumer Electronics
FoundedDecember 10, 2010 (2010-12-10) in Shenzhen, China
FounderJeffrey (Jingwei) Kang
Headquarters
Shenzhen
,
China
Number of locations
6
Area served
Worldwide
Key people
Jeffrey (Jingwei) Kang (Chairman and CEO)
RevenueIncrease RMB$6.8 billion (2014)
Increase RMB$194 million (2014)
Total assetsIncrease RMB$3.4 billion (2014)
Total equityIncrease RMB$3.7 billion (2013)
Number of employees
750
SubsidiariesIngDan Ltd
WebsiteCogobuy.com

Cogobuy Group PLC is a publicly listed company on the Hong Kong Stock Exchange as SEHK: 400.[1] The company primarily deals with computer and telecommunication hardware. It provides an e-commerce platform for electronic goods in China, although the company and its subsidiaries distribute their products globally. It operates the largest transaction-based e-commerce platform for IC and other electronic components in China as measured by GMV in 2013, (Analysys International & CSCI Investment Bank).[2]

History

Cogobuy was incorporated as an exempted company with limited liability in the Cayman Islands on February 1, 2012.[3] The founder, Jingwei Kang, had considerable experience in the electronic components industry in China.[4] Its core business, the trading of IC and other electronic components, was originally carried out by several predecessor entities, previously owned by Viewtran,[5] and listed on the NASDAQ stock market as 'VIEW' since 2004.[6] Cogobuy's Controlling Shareholder Jeffrey Kang was a 38.7% shareholder of Viewtran until Cogobuy acquired the predecessor entities on November 15, 2012.[7]

On July 18, 2014 Cogobuy floated their stock on the Hong Kong Stock Exchange as SEHK: 400[8] with UBS underwriting Cogobuy's Initial Public Offering (IPO)[9] of HK$1.37bn (US$177m) and a share price HK$4.00.[10] In the first year its stock had a 107.75% Year Over Year (YOY) return.[11]

E-Commerce Platform

Cogobuy's e-commerce platform includes a direct sales platform, an online marketplace and a team of technical consultants and sales representatives.[12] In 2013, the firm fulfilled orders with a GMV of approximately RMB3.9 billion. It serves electronics manufacturers including small and medium-sized enterprises.[13][14]

The user interface consists of a direct sales platform, on which the firm offer Integrated circuits and other electronic components to customers directly[15] and a marketplace platform launched in 2013, on which third-party merchants sell their products to customers and pay Cogobuy commissions.[16]

In 2015 the direct sales platform accounted for 76.1% of the purchases on the website, with outside marketplace sellers accounting for 16.3% of there total revenue, the balance came from there supply chain financing business.[17] The firm's online sales increased 18-fold to RMB3.9 billion (US$630.30 million) in 2013 from RMB217 million (US$35.07 million) in 2012, garnering about a 50% share of the Chinese online electronics parts market.[18]

References

  1. ^ "All Hong Kong Stock Exchange Listed Securities". Hong Kong Stock Exchange. 2015.
  2. ^ "A leading vertical e-commerce platform serving the electronics manufacturing industry in China" (PDF). CSCI Finance Holdings. 2014.
  3. ^ "Cogobuy Group (0400 HK): A product of fruitful M&A" (PDF). SBI China Capital Financial Services Limited. 2014.
  4. ^ "Cogobuy E-Commerce Site Enterpreneur [sic] Joins China's Billionaires Ranks". Forbes. 2015.
  5. ^ "Viewtran Annual Report". U.S. Securities and Exchange Commission. 2014.
  6. ^ "Viewtran Group, Inc. Announces Voluntary Delisting from NASDAQ Stock Market". PR Newswire. 2015.
  7. ^ "Viewtran History, Reorganization and Corporate Structure" (PDF). HKEx News. 2013.
  8. ^ "Investors buy Cogobuy story with $177m HK IPO". SBIGlobal Capital. 2014.
  9. ^ "UBS Coordinated Prospectus 2014" (PDF). UBS. 2014.
  10. ^ "Retail Investors Snap Up Cogobuy". Finance Asia. 2014.
  11. ^ "Bloomberg Markets - Cogobuy HK:400". Bloomberg. 2015.
  12. ^ "Cogobuy Becomes Supply Chain Service Platform of Zhongguancun Science Park". Reuters. 2015.
  13. ^ "M2M Beyond the Enterprise: The Rise of the Connected SME". The Engineer. 2014.
  14. ^ "Main Board Listing Research" (PDF). East Asia Securities Co Finance Holdings. 2014.
  15. ^ "Cogobuy Implemented A Strategic Cooperation To Jointly Build An Intelligent Hardware Ecosystem". EFY Times. 2015.
  16. ^ "Cogobuy IPO Company Information". etNet News. 2015.
  17. ^ "Sales Surge 63% on China's Cogobuy Electronics Marketplace". Internet Retailer News. 2015.
  18. ^ "Chinese online electronics distributor Cogobuy raises $177 million in an IPO". Vertical Web Media. 2014.
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