INGDAN.com of Cogobuy Holds First IDEAS Cross Border Summit on Internet and Internet of Things Industry

HONG KONG, Dec. 9, 2014 /PRNewswire/ -- Cogobuy Group ("Cogobuy" or the "Company", stock code: 400.HK), a leading e-commerce company with the largest transaction-based e-commerce platform for IC and other electronic components in China, is pleased to announce that its INGDAN.com (Hardeggs platform) recently held the first IDEAS Cross Border Summit on Internet and Internet of Things Industry (the "Summit") in Shenzhen. Jointly launched by Mr.Jeffrey Kang, Chairman of Cogobuy Group and Mr. Jeff Xiong, Founder of 7 Seas Ventures and the former CTO of Tencent, the Summit attracted elites from the very industries to discuss the industry trends. Various industry leaders attended the Summit, including Mr. Jeffrey Kang, Mr. Jeff Xiong, Mr. Allen Zhang, Creator of WeChat, Mr. Mike Muller, Founder and CTO of Arm, Mr. Lei Zhang, CEO of Envision Energy, Mr. Frank Wang, Founder of DJI, and Mr. Liu Jiangfeng, Head of Operation Department of Huawei Honor, etc.

The Summit was brought to a successful close on 5^th December. A large number of participants spanning from leading companies, renowned scholars and innovators of the Internet, Internet of Things ("IoT") and investment industries participated in the industry dialogs and outlined the IoT trend in the next decade. Moreover, it also introduced the latest leading startup projects in China and the United States.

In addition, IDEAS CLUB was established in the Summit, consisting of various groups of IoT elites from China and the United States. IDEAS CLUB plans to hold events twice a year, summer in US and winter in China, in providing great opportunities for innovators and technology reformers to gather and exchange ideas.

Mr. Jeffrey KANG, Executive Director, Chairman and Chief Executive Officer of Cogobuy Group, said, "In the ever-changing Internet era, it has evolved  from Generation 2.0 with 'Consumer Internet' as representative to Generation 4.0 with 'Industry Internet' as representative. The new generation goes beyond simply online transactions and has brought changes to more and more industries with the help of the Internet that refers to integrated marketing, transactions and services, and the 'Industry Internet' will be evolving towards an ecosystem. Our INGDAN.com aims to invite leading companies in various industries within the ecosystem to jointly build a complete and open platform, which can facilitate more startups to get access to resources in the supply chain. To achieve so, in the Summit, we invited e-commerce platforms for startups, such as JD.com and Huawei e-commerce, fund supporting institutions, such as JD crowdfunding platform and 7 Seas Ventures, and WeChat that links to every parties. Created by industry elites, the IDEAS CLUB combines respective advantages from all parties and will win for all."

Mr. Kang added, "Leveraging on Cogobuy's resource and capability on supply chain, our INGDAN.com will provide a full range of supply chain services to startups. This is the combined strengths of Cogobuy and INGDAN.com. We first help the startups improve their products, and then we will assist them to get connections with other resources within the ecosystem. Intelligent hardware and IoT have become the core of the Internet era for next generation. It is such a huge market that we will spare no effort to work towards the 100 billion-size GMV goal and developing INGDAN.com to be a global platform for IoT."

About INGDAN.com

INGDAN.com is China's largest interactive and engaging online community for smart hardware, and it is an Offline+Online platform focusing on hardware innovation. It provides hardware innovators and entrepreneurs with hardware innovation information, supply chain knowledge and interconnection service. INGDAN.com is a one-stop online platform for hardware innovation.

For more details please visit http://www.ingdan.com/about/ingdan.

About Cogobuy Group

Cogobuy Group ("Cogobuy" or the "Company", stock code: 400.HK) is a leading e-commerce company with the largest transaction-based e-commerce platform for IC and other electronic components in China, as measured by GMV in 2013. Cogobuy is dedicated to serving the electronics manufacturing industry in China covering blue-chip customers and SMEs, which is a potentially lucrative and fast-growing segment of the market with a significant demand for the Company's services. In 2013, the Company fulfilled orders with a GMV of approximately RMB3.9 billion. From 2011 through 2013, the Company sold products primarily through its direct sales platform, which accounted for substantially all of its revenues since its inception. It also generates revenues by charging commission fees to third-party merchants who sell products and services through its marketplace platform. The Company is also devoted to promoting idea and knowledge exchanges among electronics designers and engineers in China through new media marketing events, such as product launches and technology discussion forums in social media platforms such as Weibo and TechWeb. The Company also launched an interactive and engaging online community called "INGDAN.com ('Hardeggs' WeChat community)".

For investor enquiries, please contact Ms. Wanyee HO / Ms. Amy GUO at [email protected].

SOURCE Cogobuy Group

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