BEIJING, Dec. 21, 2012 (GLOBE NEWSWIRE) -- ChinaNet Online Holdings, Inc. (Nasdaq:CNET) (the "Company" or "ChinaNet"), a leading B2B (business to business) Internet technology company focusing on providing online-to-offline ("O2O") sales channel expansion services for small and medium-sized enterprises ("SMEs") and entrepreneurial management and networking services for entrepreneurs in the People's Republic of China, today announced that the Company participated as a sponsoring organizer of the Quanzhou Business Forum on December 17, 2012.
The inaugural Quanzhou Business Forum was organized by various business and local government leaders to address ways to help local small businesses prosper. Many business owners in the apparel and footwear industries are struggling with the slowdown in demand for their products caused by the recent deceleration global economic growth. ChinaNet, a leader in sales channel expansion services for SMEs, was invited to provide their expertise and possible solutions. ChinaNet Chairman Handong Cheng participated in a series of panel discussions, along with Quanzhou Economic and Trade Commission Director Huang Guofu, and Managing Director Ma Yue from RYO JI Technical Corporation, a ChinaNet customer. Executives from more than 30 enterprises such as Hongxing Erke Group, Fujian Force Clothing Co., Ltd., Quanzhou Yicheng Garment Co., Ltd. also attended the event.
"We are delighted to discuss ways to collaborate with the Quanzhou Economic and Trade Commission," said George Chu, Chief Operating Officer of ChinaNet. "Quanzhou has a vibrant business culture, with 76 publicly listed companies, over 50,000 small businesses, including 1,500 companies with annual sales in excess of 100 million RMB ($15 million USD), looking for a trusted service provider to help them grow. We will work hand in hand with the Quanzhou Economic and Trade Commission and other local government authorities to jointly promote the development of SMEs."
About ChinaNet Online Holdings, Inc.
The Company, a parent company of ChinaNet Online Media Group Ltd., incorporated in the BVI ("ChinaNet"), is a leading B2B (business to business) Internet technology company focusing on providing O2O (online to offline) sales channel expansion service for small and medium-sized enterprises (SMEs) and entrepreneurial management and networking service for entrepreneurs in China. The Company, through certain contractual arrangements with operating companies in the PRC, provides Internet advertising and other services for Chinese SMEs via its portal websites, 28.com, Liansuo.com and Chuangye.com, TV commercials and program production via China-Net TV, and in-house LCD advertising on banking kiosks targeting Chinese banking patrons. Website: http://www.chinanet-online.com.
This release contains certain "forward-looking statements" relating to the business of ChinaNet Online Holdings, Inc., which can be identified by the use of forward-looking terminology such as "believes," "expects," "anticipates," "estimates" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including business uncertainties relating to government regulation of our industry, market demand, reliance on key personnel, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. These forward-looking statements are based on ChinaNet's current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting ChinaNet will be those anticipated by ChinaNet. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the Company) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by such forward-looking statements. ChinaNet undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
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