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ECMOHO Limited (NASDAQ: MOHO) announced an underwritten public offering of American depositary shares (ADSs), with each ADS representing four Class A ordinary shares. The net proceeds from this offering will be directed toward general corporate and working capital needs. Aegis Capital Corp. serves as the sole book-running manager. This offering is contingent on market conditions, and there is no guarantee regarding completion or terms. The offering is filed under an effective shelf registration with the SEC, and further details will be available in the upcoming prospectus.
ECMOHO Limited (Nasdaq: MOHO) has launched the KGC DreamCloud Smart Massage Chair through a live broadcast with actress Eva Huang, achieving a gross merchandise value (GMV) of RMB 2.38 million. The company reported a 50-fold increase in GMV from sales via Douyin over the past year. With China's massage appliance market growing from RMB 4.9 billion in 2010 to RMB 14.8 billion in 2020, ECMOHO aims to enhance brand visibility and sales for its partners. The company expects GMV through interest-based social media sales to exceed RMB 30 million in 2021.
ECMOHO Limited (MOHO) has announced the launch of a new B2B supply and marketing platform aimed at enhancing its digital supply chain management in China's health and wellness sector. This platform addresses inefficiencies in traditional procurement processes by promoting transparency and offering centralized procurement functionalities. ECMOHO projects a Gross Merchandise Value (GMV) of over 100 million RMB through this initiative in 2021. The platform will support various health product categories and aims at improving operational efficiency while reducing costs.
ECMOHO Limited (Nasdaq: MOHO) announced an increase in live broadcasting efforts on Douyin to enhance marketing outcomes in 2021. The company successfully participated in Douyin's 618 'Good Products Festival,' promoting its health products and collaborating with top celebrities to reach younger consumers. CEO Zoe Wang highlighted ECMOHO's mature core team and complete supply chain that meets growing health demands. CFO Li Xin emphasized the company's effective online operations and Douyin's capabilities to create a personalized shopping experience, aiming for improved user engagement and brand recognition.
ECMOHO Limited (Nasdaq: MOHO) has announced a strategic cooperation agreement with South Korea's ChongKunDang Group (CKD) to market and sell CKD's health products in China. This partnership leverages ECMOHO's extensive distribution channels and expertise in digital marketing to introduce a range of high-quality probiotics. The Chinese probiotic market is projected to grow at 10-15% annually, with ECMOHO targeting diverse consumer needs through customized products. With nearly 11 million paying users, ECMOHO aims to boost CKD's presence in the burgeoning health food sector in China.
ECMOHO Limited (Nasdaq: MOHO) announced the success of its sales event, ECMOHO 618, held on June 18, 2021, showcasing a wide range of health products amid heightened consumer health awareness due to the pandemic. The event emphasized 'comprehensive health' and attracted significant young consumer engagement through innovative strategies, including partnerships with key opinion leaders and live streaming on social media. Popular products included supplements for heart health and immunity. The event not only generated substantial sales but also strengthened brand recognition, enabling further growth in the health and wellness sector.
ECMOHO Limited (Nasdaq: MOHO) reported its unaudited financial results for Q1 2021, revealing total net revenues of US$27.1 million, a significant decline from US$61.2 million in Q1 2020. Product sales dropped to US$26.4 million, down from US$60.7 million. Despite this, services revenue rose by 54.4% year-over-year, totaling US$679,648. The overall gross margin improved to 19%. The company faces challenges due to brand optimization and negative press affecting performance but aims for growth through new product launches and strategic partnerships.
ECMOHO Limited (Nasdaq: MOHO) announced the retention of Deltec International Group for corporate advisory services and Skyline Corporate Communications Group for investor relations management. Deltec, with over 70 years of experience, will support ECMOHO's growth initiatives in the health and wellness market in China. Skyline aims to enhance communication with shareholders as the company enters a new expansion phase. These partnerships are expected to strengthen ECMOHO's market presence and investor engagement.
ECMOHO Limited (Nasdaq: MOHO) announced the launch of Puxue Oral Liquid, a nutritional supplement targeting iron and vitamin B12 deficiencies for various age groups, including children and pregnant women. The product is developed in partnership with Harbin Pharmaceutical Group Co., Ltd. (HPGC), focusing on addressing health issues like anemia, cognitive impairment, and weakened immunity. Ms. Zoe Wang emphasized the collaboration's importance in meeting the health needs of Chinese consumers, tapping into China's growing health and wellness market.
ECMOHO Limited (Nasdaq: MOHO) has appointed Mr. Xin Li as the new Chief Financial Officer, effective May 13, 2021, replacing Mr. Leo Zeng. Mr. Li brings extensive experience from roles including CFO at AirNet Technology, and he holds an MBA from Duke University. Chairman Zoe Wang expressed confidence in Mr. Li's ability to enhance financial performance and operational efficiency. ECMOHO operates in the health and wellness market in China, providing solutions that connect brand owners with consumers, and aims to leverage Mr. Li's skills to optimize capital structure and improve shareholder value.
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