How WeTrade is Reshaping the Future of Micro Businesses

Rhea-AI Summary

WeTrade Group Inc. (WETG) has reported remarkable growth in the first half of 2021, with revenues reaching $6.66 million, a 660.4% increase year-on-year. The second quarter alone saw revenues of $3.88 million, up 354% year-on-year, and gross profit surged by 331.7%.

The company is expanding its service offerings beyond micro-businesses into sectors like tourism and retail, aided by partnerships with major firms like Tencent. WeTrade plans to enhance its global presence, aiming to connect more e-commerce supply chains and developing its YCloud system across Southeast Asia.

Positive

• Revenue growth of $6.66 million in H1 2021, up 660.4% YoY.
• Second-quarter revenue of $3.88 million, increasing 354% YoY.
• Gross profit increased by 331.7% YoY.
• Expansion into tourism and hospitality sectors significantly contributing to revenue.
• Partnership with Tencent enhancing capabilities in video and live streaming.
• Plans for globalization targeting Southeast Asian markets.

Negative

• None.

BEIJING, Sept. 2, 2021 /PRNewswire/ -- With the COVID-19 pandemic accelerating the digital transformation of the substantial industries, the demand for Online-Merge-Offline business operation mode is completely exploded. WeTrade Group Inc. ("Wetrade" or the "Company") (US: WETG), which is believed to be the world's first technical service provider of SAAS and Cloud Intelligent System for micro-businesses, has taken the opportunity and rapidly become a key player in the area. Two years after it was founded, Mr. Dixon Dai (Dai Zheng), Founder, Chairman and CTO of Wetrade, shared his views on the company's latest financial performance, globalization plans and ambition on his next start-up project.

Wetrade is growing with skyrocket speed. In the first half of 2021, the company reported revenue of $6.66 million, up 660.4% year-on-year. The revenue generated from the second quarter was $3.88 million, up 354% year-on-year, and the gross profit increased by 331.7% year-on-year.

Mr. Dai said the results exceeded expectations, and contributed the increase mainly to the service revenue generated from new customers during the period:"In the first half of 2020, most of our customers are in the micro business industry. Starting from this year, we have expanded our customer list and promoted the YCloud system to more industries, including micro businesses, tourism and hospitality, short video and live streaming, medical beauty and traditional retail. Amongst those, tourism and hospitality customers account for a large proportion, as I myself have a background in these areas. As affected by the COVID-19 pandemic, the proportion of traditional retail customers is also rising."

Mr. Dai said Wetrade is also doing well in the industry of video, thanks to its partnership with Tencent. And in the second half of the year, the company will further invest in short video and live streaming, retail (health industry), and cross-border tourism after the pandemic.

As one of the leading micro-business technical service providers globally, comparing to Youzan, Weimob and Salesforce, Wetrade's major competitors, Mr. Dai believes there are distinctive features making the company stand out.

"Firstly, we help micro businesses build their own private domain traffic; secondly, we gather a great amount of supply chain, about 257 rights and benefits of those from JD, Pinduoduo, Meituan and VIP, which enables the micro-business owners sell things from those supply chain and earn commissions via their private domain traffic, in addition to selling their own commodities; thirdly, we help micro-business owners operate their private domain traffic and do the marketing, which raises the retention rate of their private domain traffic."

Another difference of Wetrade is the YCloud system was also widely used by individual micro-business owners who have other occupations, such as couriers, streamers, ride-hailing service drivers, etc., a.k.a. the flexible working group.

As a Nasdaq capital market-uplisting company and a global service provider, Mr. Dai said Wetrade is planning on a few globalization projects.

"We are working on connecting more cross-border e-commerce supply chain to our system. As Wetrade is a service provider of Tencent, it has given us tremendous support on the API. At the same time, the key of 'social e-commerce' is 'social'. Currently, our SAAS system supports WeChat operation; we hope it could be compatible for other overseas social media in the future, for example, WeChat's overseas version, KAKAO, WhatsApp, Line, etc. We want to embed YCloud in those software. Our goal is to activate private domain traffic of social media in different countries."

Mr. Dai said up to now, YCloud's business has successfully landed in mainland China and Hong Kong, and will land in the Philippines and Singapore soon. He expects Wetrade to be more globalized.

"Speaking from a future point of view, overseas markets and overseas social media will be the battle fields everyone fights in."

Mr. Dai is a successful serial entrepreneur. He is also the co-founder of Qunar.com, China's pioneering travel-booking website, and has served on a number of boards of leading Chinese internet companies. As a veteran of the internet and information technology industry, Mr. Dai believes his motivation for starting a new business is "following the trends and "seizing the opportunity."

"All my start-ups are products of following the trends. As I am a technical person, I need to see whether an application has an opportunity (to succeed) in the industry. If the answer is yes, I will seize the opportunity with no hesitations."

Mr. Dai said if he were to start a new business again, he would choose the local life-style related one in the third, fourth and fifth tier cities, as he believes the similar business in the first and second tier cities have been overloaded.

About WeTrade Group Inc. 

WeTrade Group Inc. is believed as the world's first technical service provider of SAAS and Cloud Intelligent System for micro-businesses, and is also believed as the first internationalized system in the global micro-business cloud intelligence field and the leader, innovator and promoter of the world's cloud intelligent system for micro-businesses. WeTrade Group independently developed the cloud intelligent system for micro-businesses (Abbreviation: YCloud). YCloud can strengthen users' marketing relationship and CPS commission profit management through leading technology and big data analysis. It also can help increase the payment scenarios to increase customers' revenue by multi-channel data statistics, AI fission and management as well as improved supply chain system. Up to now, YCloud's business has successfully landed in mainland China and Hong Kong, covering the micro business industry, tourism industry, hospitality industry, livestreaming and short video industry, aesthetic medical industry and traditional retail industry. For more information, please visit https://ir.wetg.group.

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SOURCE WeTrade Group Inc.

FAQ

What were WeTrade Group's revenue figures for the first half of 2021?

WeTrade Group reported revenues of $6.66 million in the first half of 2021, a 660.4% increase year-on-year.

How does WeTrade's second quarter revenue compare year-on-year?

In the second quarter of 2021, WeTrade's revenue was $3.88 million, which is a 354% increase year-on-year.

What sectors is WeTrade Group expanding into?

WeTrade is expanding its services into tourism, hospitality, and retail sectors, alongside its core focus on micro-businesses.

What partnerships is WeTrade Group leveraging for growth?

WeTrade is benefiting from its partnership with Tencent, which supports its video and live streaming initiatives.

What are WeTrade Group's plans for globalization?

WeTrade plans to expand its YCloud system to Southeast Asian markets, including the Philippines and Singapore.