Cogobuy's Majority Shareholders Increase Stake

HONG KONG, May 20, 2017 /PRNewswire/ --Cogobuy Group ("Cogobuy" or the "Company", stock code: 400.HK; with its subsidiaries (the ''Group'')), the largest e-commerce platform serving the electronics manufacturing industry in China, is pleased to announce that Mr. Jeffrey Kang, our controlling shareholder and CEO, and Ms. Yao Yi, our second largest shareholder, have both indicated they will purchase shares of the Company in the open market in light of the current market price of the Company's shares and their full confidence in the Group's future development. Mr. Kang and Ms. Yi  firmly believe in Cogobuy's ability to weather market volatility and expect the action to demonstrate the Company shareholders' confidence in the Group's outlook.

Cogobuy Group's Management commented, "Our major shareholders' move to increase their holdings reflects their optimistic view of Cogobuy's prospects. We are pleased to be maintaining strong growth into 2017, as demonstrated by our first quarter results. Online transaction customers doubled year-on-year, which served as a key driver of our performance. 

With increasing numbers of online customers, broadening sources of income through our new business unit—IngFin Financing Services—and a new ecosystem for AI technology in electronics and hardware, we are confident in Cogobuy's growth momentum for the coming year, and the positioning of its businesses for the future. We will also repurchase Cogobuy's issued and outstanding shares at the right time to ensure strong returns for our shareholders."

About Cogobuy Group
Cogobuy Group is the largest e-commerce service platform serving the electronics manufacturing industry in China. Through the e-commerce platform, which includes a direct sales platform, an online marketplace, and a dedicated team of technical consultants and professional sales representatives, the Company provides customers with comprehensive online and offline services across pre-sale, sale, and post-sale stages. The Company serves mainly SME electronics manufacturers.

For further information, please refer to the Company's website at http://www.cogobuy.com/

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SOURCE Cogobuy Group