NEW YORK, Oct. 20, 2020 (GLOBE NEWSWIRE) -- Wall Street Reporter, the trusted name in financial news since 1843, has published reports on the latest comments and insights from leaders at: Sea Limited (NYSE: SE), Logiq (OTC: LGIQ), Peak Fintech (OTC: PKKFF) (CSE: PKK), and Pinduoduo (NASDAQ: PDD).
Accelerating digital transformation in Asia is driving explosive growth opportunities in sectors as diverse as fintech, agriculture, esports, and ecommerce. Wall Street Reporter highlights the latest comments from industry thought leaders:
Sea Limited (NYSE: SE) Forrest Li, Chairman and Group CEO “Firing on All Cylinders”
“...We are moving into the second half of 2020 firing on all cylinders. Each of our businesses is successfully adapting to capture the immediate growth opportunity in front of us. Each of them is also ideally positioned for the long-term with a significant runway ahead...We saw sustained and growing user engagement across our platforms through the second quarter and beyond. And this gives us further confidence that the rapid shift to digital lifestyles is in fact a permanent and irreversible change that will drive significant growth opportunities for Sea over the long term.”
“...Garena had another excellent quarter and achieved several historical highs. We reached more people than ever before, with close to 500 million active users around the globe playing Garena games during the quarter. That represents an increase of 61% year-on-year. As we rolled out more new content than ever to entertain and engage our users, our paying user ratio improved further to hit 10%. Our quarterly paying user number grew at a very strong rate of 91% year-on-year to reach 49.9 million.”
“...Shopee recorded accelerated growth across key metrics and in each of our markets, as more consumers and sellers turned to Shopee as their go-to shopping and selling destination...consumers and sellers in our region who are embracing e-commerce at an unprecedented pace…In the second quarter, we recorded accelerated growth in gross orders, which increased by 150% year-on-year to reach 615.9 million compared to 111% in the first quarter… In Indonesia, our largest market, our year-on-year growth rate in terms of orders further accelerated. We recorded over 260 million orders for the market in the second quarter, or a daily average of over 2.8 million orders, an increase of over 130% year-on-year.”
“SeaMoney further accelerated growth in the second quarter. Accelerating digitalization is driving increased needs for quick and convenient online and contactless payment options, as well as other digital financial services... SeaMoney's focus continues to be leveraging on Sea's strategic leadership positions in some of the largest use cases for digital payments in e-commerce and digital entertainment….mobile wallet total payment volume increased to more than $1.6 billion for the second quarter compared to more than $1 billion in the first quarter...We see significant growth ahead in the digital payments and digital financial services segment, driven by the rapid expansion of the digital economy in our region...We will continue to invest efficiently in scaling up the SeaMoney business to solidify our leadership position across our markets.”
Logiq, Inc. (OTC: LGIQ) President, Brent Suen: “The Shopify of Mobile in SE Asia ”w $40+ mil Revenues Run Rate”
NEXT SUPER STOCK conference presenter Logiq, Inc (formerly Weyland Tech) (OTC: LGIQ) President Brent Suen recently spoke with Wall Street Reporter’s investor audience about LGIQ’s latest developments, including the acquisition of an AI technology company, accelerating revenue growth with a run-rate of $40 million, new fintech partnerships in the booming Indonesia market, and plans for NASDAQ uplisting. Brent also explained why LGIQ has compelling upside, when comparing valuation multiples, which is just a fraction of its peers in the e-commerce/fintech space such as SHOP, SE, STNE, and JMIA, which trade at 30X revenues.
Watch LGIQ Next Super Stock livestream video: https://bit.ly/3g9H0Km
Click here to join LGIQ NEXT SUPER STOCK livestream October 21: https://bit.ly/2PX0SpH
NEXT SUPER STOCK conference presenter Peak Fintech Group (OTC:PKKFF) (CSE: PKK) CEO Johnson Joseph, recently spoke with Wall Street Reporter’s investor audience about PKKFF fast growing China fintech business which serves connects small-medium business with commercial lending solutions. Joseph explained how Peak Fintech has already gained significant traction, generating over C$7.2 million revenue in Q 2020, and is now ready to start scaling revenues as it enters new markets in coming months.
Watch PKKFF Next Super Stock livestream video: https://bit.ly/3maNi01
October 20 - PKKFF signed an exclusive agreement with the parent company of national consumer electronics distributor Beijing Dianjing Company Ltd. ("BDC") to bring financing solutions to BDC's 60,000 online retail clients.
BDC is a wholesale distributor of consumer electronics whose online retail clients sell laptops, smartphones and other consumer electronic products on China's top three e-commerce portals: Tmall, JD.com and Pinduoduo. BDC's clients, who collectively sell about $50B worth of consumer electronics per year, will be able to have up to 90% of the price of the products they purchase from BDC financed. Peak typically earns service fees ranging from 1% to 3% of the value of the credit amounts it helps facilitate, and this represents a total market opportunity of up to $1.35B in annual revenue potential.
Click here to join PKKFF NEXT SUPER STOCK livestream October 21: https://bit.ly/2PX0SpH
Pinduoduo Inc. (NASDAQ: PDD) David Liu, VP Strategy: “Digital Transformation of Agriculture is RMB 1 Trillion Opportunity”
“...We have successfully built a user base of nearly 600 million in record time...Our average daily parcel volume accounts for approximately 25% of China's daily parcel shipment. However, in terms of average spending per active buyers, we still see substantial upside potential...We plan to pursue more strategic investment and partnership opportunities that will allow us to accelerate digitization of our supply chain and enhance efficiency and values that could be shared with our consumers. In particular, we started our business in agriculture and we plan to continue our focus in agriculture as our next strategic priority. Agriculture is a sector that touches largest number of people and yet has had the least amount of digitization in the past decade.”
“...Total addressable market in 2019 for PBOC agricultural goods sales in China was RMB 8.1 trillion, with less than 7% of these sales taking place online. In contrast, the online penetration for physical goods in total was 23% in 2019....Pinduoduo is already one of the leading e-commerce platforms for agriculture. In 2019, we generated RMB136.4 billion or 13.6% of our GMV from agriculture produce and related goods...Any technology that can improve productivity and efficiency of an agricultural value chain will have a huge impact...We are uniquely positioned to drive trends in China's agriculture system. ..Our aim is to further consolidate our position as China's number one online agriculture platform and to build a worldwide presence in agriculture...We expect to continue gaining market share in agriculture and we see potential for our agriculture GMV to exceed RMB 1 trillion in 5 years.”
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