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Wednesday, October 04, 2017 3:19:42 PM
- UnionPay module in Moxian+ User and Moxian+ Business apps gives access for potential joint venture partners to China’s largest payment processor
- Hao Qing Hu named as new company president and CEO in addition to Moxian director
- Seven directors elected to Moxian’s board at annual meeting, including Shewn International Group CEO Ms. Liu Shu Juan
Moxian, Inc. (NASDAQ: MOXC) has a key ingredient to attract joint venture partners in its growth strategy in China: the UnionPay module in its new User and Business apps. UnionPay is the largest payment processor in China and owns 25% of the global market for credit cards, third only to Visa and MasterCard (http://nnw.fm/4EgH6). It also has a presence in more than 160 countries worldwide, including the U.S.
Moxian is an integrated social media platform operator, striving to convert its unpaid Moxian+ Business and Moxian+ User platforms to paid within the online-to-offline (O2O) market in China. It connects users to merchant clients through games, rewards and social events. It offers Mo-Coin and Mo-Point reward systems.
MOXC’s special relationship to UnionPay gives businesses and vendors in China access to the largest payment processor in the country. MOXC has a new growth strategy employing partners to help it expand into more Chinese cities quicker and with lower costs. It signed an agreement in principal for its first joint venture partner, Shewn International Group of Shanghai, a successful marketer of fine wines in China. UnionPay makes MOXC a desirable partner for Shewn.
Crystal Equity Research LLC projects that Moxian will generate sales of $2.3 million in FY2018, in part from the new revenue stream of receiving a fee of 1% of all Shewn payments processed on Moxian’s UnionPay app (http://nnw.fm/2kxlK). Crystal Equity Research also noted that Moxian has reduced its spending to $1.3 million for the quarter ended June 2017, down from the $5.4 million it spent in the prior quarter due to reduced selling, general and administrative (SG&A) expenses. Crystal Equity Research said it anticipates raising its projections for Moxian’s revenues after the Shewn joint venture is executed.
At the company’s annual meeting, Hao Qing Hu was named the company’s president and CEO and also elected as a director of the company. He has been a director of Moxian since January 2016 and, since September 2015, has been the general manager of subsidiary Moxian Beijing, maintaining responsibility for all operations.
Additionally, Ms. Liu Shu Juan was elected director. She is CEO of Shewn International Group and financial controller of Shanghai Shewn Co., Ltd., the company’s primary operator in China.
For more information, visit the company’s website at www.Moxian.com
Recent MOXC News
- Form 20-F - Annual and transition report of foreign private issuers [Sections 13 or 15(d)] • Edgar (US Regulatory) • 04/30/2024 08:30:37 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 04/15/2024 08:35:21 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 01/30/2024 09:30:13 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 01/11/2024 01:05:35 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 11/16/2023 03:30:25 PM
- Moxian Announces Name Change to Abits Group Inc • GlobeNewswire Inc. • 11/16/2023 02:27:00 PM
- Management Discussion and Analysis of Results for the half-year to June 30, 2023 • GlobeNewswire Inc. • 11/08/2023 09:56:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 11/08/2023 09:30:35 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 10/18/2023 08:05:09 PM
- Moxian Receives NASDAQ Notification Regarding Minimum Bid Price Requirements • GlobeNewswire Inc. • 10/18/2023 08:00:00 PM
- MOXIAN POWERS UP ITS DUFF SITE • GlobeNewswire Inc. • 10/02/2023 09:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/28/2023 12:35:22 PM
- Moxian Announces Results of Annual Meeting of Shareholders • GlobeNewswire Inc. • 08/28/2023 12:30:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/15/2023 12:35:11 PM
- Moxian Regains Compliance with NASDAQ Minimum Bid Price Requirement • GlobeNewswire Inc. • 08/15/2023 12:30:00 PM
- Form 20-F/A - Annual and transition report of foreign private issuers [Sections 13 or 15(d)]: [Amend] • Edgar (US Regulatory) • 08/10/2023 08:05:11 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 07/25/2023 08:00:10 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 07/18/2023 12:35:12 PM
- Moxian to Hold Annual Meeting of Shareholders on August 25, 2023 • GlobeNewswire Inc. • 07/18/2023 12:30:00 PM
- Moxian Receives NASDAQ Notification Regarding Minimum Bid Requirements • GlobeNewswire Inc. • 06/07/2023 08:30:00 PM
- MOXIAN ACQUIRES LAND TO BUILD A NEW MINING CENTER • GlobeNewswire Inc. • 05/17/2023 11:12:00 PM
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