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04-07-2018, 05:41 PM
(This post was last modified: 04-07-2018, 08:19 PM by dreamybear.)
Company Announcement - Best World 28th Annual International Convention: A New Milestone
Jul 03, 2018
▪ First convention held by Group in mainland China and the largest for the Group to date
▪ New Franchise Wholesale segment announced for China from 2H2018, replacing the China Export model
▪ Group remains cautiously optimistic about profit growth for FY2018 compared to FY2017
......................................
Opening the convention with a heartening address, Co-Chairman and Group CEO of Best World, Dr Dora Hoan spoke in depth about the business direction of the Group while also taking the opportunity to announce to China distributors and customers present at the event, the official launch of the Group’s new franchise business model for China from 2H2018 onwards. This comes in pursuant to the Group’s receipt of its Commercial Franchise Certificate (商业特许经营证书) from the Ministry of Commerce in April this year, which is an extension of the Group’s current strategy to establish its presence throughout mainland China using mainly distributors operated outlets .....................
Commenting at the convention, Executive Director and Group Chief Operating Officer, Mr Huang Ban Chin, said, “China continues to represent a high growth market for the Group. With actual demand for our brand offerings in 1H2018 stronger than that of prior corresponding period, coupled with the completion of our business model conversion into what will be known as Franchise Wholesale, we expect 2H2018 to be a strong second half for the Group. As of date, we have signed 27 franchisees for key cities of Hunan, Guangdong, Zhejiang and Heilongjiang provinces. In line with what we had previously announced, we remain cautiously optimistic of being able to achieve profit growth for the Group in FY2018, as compared to FY2017.”
The full English and Chinese pdf attachments can be found in http://bestworld.listedcompany.com/news.html/id/668153
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Hmmmm, it seems that other than Direct Selling(for Aurigen products in Hangzhou), BWI's other new China expansion plan is the franchise model(replacing export model).... and the latter seems to be the focus for China moving forward(presumably for the selling of all BWI products).
Jul 03, 2018
▪ First convention held by Group in mainland China and the largest for the Group to date
▪ New Franchise Wholesale segment announced for China from 2H2018, replacing the China Export model
▪ Group remains cautiously optimistic about profit growth for FY2018 compared to FY2017
......................................
Opening the convention with a heartening address, Co-Chairman and Group CEO of Best World, Dr Dora Hoan spoke in depth about the business direction of the Group while also taking the opportunity to announce to China distributors and customers present at the event, the official launch of the Group’s new franchise business model for China from 2H2018 onwards. This comes in pursuant to the Group’s receipt of its Commercial Franchise Certificate (商业特许经营证书) from the Ministry of Commerce in April this year, which is an extension of the Group’s current strategy to establish its presence throughout mainland China using mainly distributors operated outlets .....................
Commenting at the convention, Executive Director and Group Chief Operating Officer, Mr Huang Ban Chin, said, “China continues to represent a high growth market for the Group. With actual demand for our brand offerings in 1H2018 stronger than that of prior corresponding period, coupled with the completion of our business model conversion into what will be known as Franchise Wholesale, we expect 2H2018 to be a strong second half for the Group. As of date, we have signed 27 franchisees for key cities of Hunan, Guangdong, Zhejiang and Heilongjiang provinces. In line with what we had previously announced, we remain cautiously optimistic of being able to achieve profit growth for the Group in FY2018, as compared to FY2017.”
The full English and Chinese pdf attachments can be found in http://bestworld.listedcompany.com/news.html/id/668153
-----------------------------------------------------------------------------------------------------------------------------------------
Hmmmm, it seems that other than Direct Selling(for Aurigen products in Hangzhou), BWI's other new China expansion plan is the franchise model(replacing export model).... and the latter seems to be the focus for China moving forward(presumably for the selling of all BWI products).