Our coverage is updated of Moxian, Inc., the most recent entrant into China’s thriving online-to-offline e-commerce market. Following report of quarter financial results, we spoke at length with Moxian’s chief executive officer James Mengdong Tan regarding the Company’s plans for market penetration and recent strategic developments. The group has shifted its approach to bring the Moxian+ online-to-offline platform to China’s e-commerce market with the twin objectives of reducing cost of market penetration and accelerating onset of revenue streams. The refinement comes through several months of experience in four of China’s largest metropolitan markets and successful enhancement of the Moxian+ platform with top-flight payments technology from one of China’s leading banks, UnionPay International.
In early August 2017, Moxian announced a memorandum of understanding with the Shewn International Group, a distributor of fine wines based in Shanghai. Moxian and Shewn have agreed to establish a joint venture to which the two partners will contribute their respective technology and market strengths. A joint venture agreement is expected before the end of September 2017. Moxian could earn a fee of 1% of payments processed by Shewn across the UnionPay system, which is incorporated in the Moxian platform.
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