Invigor in Winning position after moving to live deployment of WeChat solution
Published 22-OCT-2018 15:00 P.M.
|
2 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Invigor Group Limited (ASX:IVO) has informed the market that its Memorandum of Understanding (MOU) with China’s Winning Group Holdings Limited, which was signed on September 18, is now unconditional.
Both parties have waived the initial three-month pilot period and will move to live deployment of WeChat Pay in south-east Asia with the first significant customer introduced by IVO.
Winning Group is one of just several global solutions providers for Tencent Holdings Limited. Tencent is one of China’s largest companies as well as one of the world’s most valued internet firms. It owns WeChat, a leading payment and social media platform in China with over one billion users (900 million of which are using WeChat Pay).
The removal of conditionality is a promising development for IVO, which will see the company and Winning Group (and by default Tencent) locked into the agreement for three years. This stability will enable IVO to expedite its growth and expansion into other international markets that are being pursued by Tencent through Winning Group.
The agreement also reiterates IVO’s move to a transactional based model which will drive revenue via merchant sales, IVO’s Loyalty solution and advertising royalties.
Finally, IVO expects to announce its first revenue-generating agreement with a recognised global grand with a significant presence in south-east Asia in the coming weeks, with IVO also set to earn a percentage of sales revenue from the merchants using WeChat Pay.
IVO CEO Gary Cohen commented on the strong announcement, “In the short time since we announced the MOU with Winning Group, we have quickly promoted the merits of our WeChat relationship to leading brands, retailers and mall owners in Singapore and Hong Kong.
“It has been enthusiastically received, and as such, we have agreed to remove the need for a 90 day pilot program. This reflects the strength of our partnership with Winning and the broad appeal of the technology offering.
“Our priority now is to consolidate and deploy the significant opportunities we have in this market whilst working on growing our joint capabilities to maximise the unique position we have in this area,” he concluded.
General Information Only
This material has been prepared by StocksDigital. StocksDigital is an authorised representative (CAR 000433913) of 62 Consulting Pty Limited (ABN 88 664 809 303) (AFSL 548573).
This material is general advice only and is not an offer for the purchase or sale of any financial product or service. The material is not intended to provide you with personal financial or tax advice and does not take into account your personal objectives, financial situation or needs. Although we believe that the material is correct, no warranty of accuracy, reliability or completeness is given, except for liability under statute which cannot be excluded. Please note that past performance may not be indicative of future performance and that no guarantee of performance, the return of capital or a particular rate of return is given by 62C, StocksDigital, any of their related body corporates or any other person. To the maximum extent possible, 62C, StocksDigital, their related body corporates or any other person do not accept any liability for any statement in this material.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
