Drow Group Beat AOKANG International Into "China'S First Foreign Trade Supplier"

In the NYSE listed "China's first foreign trade business" - Lanting Pavilion collection will usher in a new actual controller, the largest shareholder is no longer

International.

On the afternoon of March 17th, the reporter learned from the drow group, headquartered in Wuhan, that the drow group and the Lanting Pavilion group have signed the share purchase agreement, which is intended to purchase Lanting Pavilion's potential stock through private placement.

According to the Zhuo group disclosed that the paction price of about 470 million yuan, after the completion of the paction, the drow group will hold 30% of the Lanting Pavilion potential stock, Lanting Pavilion become the largest shareholder.

Public information shows that Lanting Pavilion is coming from China across the border.

Founded in 2007, the company is headquartered in Beijing.

It has developed into one of the largest cross-border e-commerce platforms in the world.

Through its lightinthebox.com and miniinthebox.com websites, mobile websites and mobile client platforms, the Lanting Pavilion uses more than 20 main languages of the world to sell tens of thousands of Chinese high-quality goods directly to European, North American and global consumers.

The products sold in Lanting Pavilion include sales.

Small commodities, electronic products, ornaments, household products, sporting goods, toys and so on.

As the first cross-border electricity supplier in China, the Lanting Pavilion group was listed on the New York stock exchange in June 6, 2013.

As a shareholder of the paction, the drow group is a large business wholesale market operator based in Wuhan. It focuses on the supply chain property and paction services of enterprises, mainly providing customers with trading platform and property, logistics, warehousing, finance, data and other service chains.

The offline market is located in a number of regional central cities such as Wuhan and Tianjin, with more than 5 million square meters of property.

Its development was listed on the main board of Hongkong stock exchange in July 2011.

Yan Zhi, chairman of the board of directors of the Zhuo group, said in an interview that one of the strategies for future development of drow is to expand the online platform business with the advantage of its own wholesale market property resources and form an integrated online wholesale trading platform.

As part of the plan, the founder of the original shop No. 1 joined the drow in 2015 and launched the Zhuo Yun market plan to promote the pformation of the electricity supplier.

At present, Zhuo Er's electronic business platform, Zhuo Er, has already launched 101 nationwide wholesale markets, and has settled 9862 businesses, registered more than 50 thousand, and the paction volume has exceeded 4 billion 500 million yuan.

And this stake in Lanting Pavilion will be the extension of Zhuo Er's business from domestic trade to foreign trade.

The two sides said that after joining the stock market, the two sides will conduct in-depth discussions and cooperation in cross-border trade, e-commerce operations, logistics, finance and so on.

The collection of Lanting Pavilion will help and facilitate the development of foreign trade businesses and expand international sales channels for merchants.

Drow purchase wholesalers will be continuously promoted and sold to the global market through more than 20 main languages of the world, including lightinthebox.com and miniinthebox.com website, mobile website and mobile client platform of Lanting Pavilion.

A noteworthy background is that the stock market has been in the doldrums in the near future. The recent trend of Lanting Pavilion's stock price is weak. As of the last trading day, in March 15th, Lanting Pavilion gathered only $2.69, which created a lower cost for drow's stake.