China Green Agriculture's online sales platform exceeded gross merchandise volume goal

China Green Agriculture, Inc., a company that mainly produces and distributes humic acid-based compound fertilizers, other varieties of compound fertilizers and agricultural products through its subsidiaries in China,recently announced that the Company's online sales platform www.900nong.com ("900nong.com")  exceeded Gross Merchandise Volume ("GMV"*) goal during the November E-Commerce Shopping Carnival in China (the so called  "Double 11"), which is the biggest E-Commerce Shopping Carnival in China.

 

The business model of 900nong.com is analogous to T-mall with specialization in selling basic agricultural materials. 900nong.com also offers, among others things, agriculture information, agricultural technology, bulk farm-products and land transfer information. The purpose of building the platform is to provide comprehensive services to rural residents from their farmlands to their everyday life all over the country.

 

During the Double 11, the 900nong.com received more than 90 thousands shopping orders. The GMV reached RMB 11.1 million (US$ 1.7 million), and had exceeded planned goal by 27%. Among the GMV the agricultural materials contributed RMB 3.32 million (US$ 0.5 million) and the living goods and groceries contributed RMB 7.78 million  (US$ 1.2 million).

 

Since 900nong.com came into operation from March 2015, the total GMV reached RMB 33.4million (US$ 5.2 million), among which the agricultural materials contributed RMB 14.2 million (US$ 2.2 million) and the living goods and groceries contributed RMB 19.2 million (US$ 3 million).

 

"It is amazing that 900nong.com exceeded GMV goal during the Double 11," stated Mr. Tao Li, Chairman and CEO of the Company, "This is the first time our distributors embraced the Double 11 through the online platform, we got enthusiastic response from our customers. I believe with the rapid growth of the electronic economy and the 900nong.com, our online sales will grow fast in the near future."

 

*Gross merchandise volume ("GMV") is the total amount settled through AliPay and Wechatpay on 900nong.com. All 2015 11.11 GMV and other figures are subject to final auditing following conclusion of the event.