- Director nominees include Liu Shu Juan, CEO of Shewn International Group and financial controller of Shanghai Shewn Wine Co.
- Moxian is expected to formalize joint venture agreement with Shewn International Group by end of September 2017
- Joint ventures are part of Moxian’s new strategy to enter major markets in China more quickly and at lower cost
Moxian, Inc. (NASDAQ: MOXC) will nominate seven directors to its board for shareholders at its annual meeting on September 29, 2017, in Beijing, China (http://nnw.fm/2mJhT). Among the seven is Liu Shu Juan, chief executive officer of Shewn International Group, Inc. and financial controller of Shanghai Shewn Co., Ltd., the company’s primary operator in China.
Liu has been a Moxian board member since August 2017. Moxian has an agreement of understanding with Shewn International Group, Inc., expected to be finalized by the end of September 2017, for a joint venture as part of a new marketing strategy for Moxian. The Shanghai-based company plans a series of joint ventures to enable it to penetrate key markets in China more quickly and at a lower cost. James Mengdong Tan, president and chief executive officer of Moxian, told Crystal Equity Research that he has some opportunities for 30-40 companies in the pipeline for future joint ventures.
Moxian is an integrated platform operator focused on processing digital payments and converting its Moxian+ Merchant and Moxian+ User apps to paid. It has a module on its Moxian+ Merchant platform for UnionPay, the dominant digital payment processor in China. That module makes joint ventures with Moxian attractive to other businesses.
Crystal Equity Research endorses the new joint venture strategy, citing its planned effectiveness and cost cutting in Moxian’s entry into new markets. Crystal Equity has projected that Moxian will achieve sales of $2.3 million by FY2018. It also notes that the joint venture provides Moxian with a new revenue stream, giving it a percentage of Shewn’s sales processed through the Moxian+ UnionPay app.
Additionally, the joint venture is an effective way of having Moxian gain quicker entry into new markets within China at a lower price. Crystal Equity Research said that Moxian’s cash burn rate was only $1.3 million in the quarter ended June 2017 versus $5.4 million in the prior quarter. Shewn markets fine wines in China and plans to use Moxian’s relationship and app for payments through UnionPay. It is also planning to market its wines into luxury complexes through as many as 500,000 new specialized vending machines.
For more information, visit the company’s website at www.Moxian.com
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