BEIJING, Dec. 10, 2012 (GLOBE NEWSWIRE) -- ChinaNet Online Holdings, Inc. (Nasdaq:CNET) (the "Company"), a leading B2B (business to business) Internet technology company focusing on providing online-to-offline ("O2O") sales channel expansion services for small and medium-sized enterprises ("SMEs") and entrepreneurial management and networking services for entrepreneurs in the People's Republic of China, today announced that its subsidiary, Flying Cloud, will launch two new mobile applications, or "apps," for sales and management services ( www.feitengyun.com) in December 2012. In addition, Flying Cloud will update its new products website in the first quarter of 2013. "We are excited to formally launch the first mobile apps under Flying Cloud," explained George Chu, Chief Operating Officer of ChinaNet. "After conducting three months of testing with 26 clients in the retail industry, these products have performed extremely well. Small and medium sized businesses can easily implement these apps to reduce costs and improve productivity." Developed through an internal collaboration between ChinaNet and its technical teams from Taiwan and the U.S., Flying Cloud is a cloud-based business platform designed specifically for small and medium sized businesses (SMBs). Through four cloud-based sub-platforms, sales cloud, supply cloud, management cloud and service cloud, Flying Cloud allows businesses to customize services to the needs of SMBs across a variety of industries. These mobile apps represent a new strategy to introduce new products that are easier and more convenient for users to adopt. ChinaNet will initially introduce basic functions in these mobile apps before integrating them into larger and more complex systems. Additionally, these mobile apps are consolidated into four major service platforms that users can view through one single management system and interface. The mobile apps include functions such as a retail sales assistance with product QR code recognition and verification systems for the sales cloud, an inventory assistant with the same QR code recognition and verification systems for the supply cloud, and an internal expense reimbursement assistant for the management cloud. Users can view the individual and consolidated reports anytime, anywhere through any mobile device.
About ChinaNet Online Holdings, Inc.The Company, a parent company of ChinaNet Online Media Group Ltd., incorporated in the BVI ("ChinaNet"), is a leading B2B (business to business) Internet technology company focusing on providing O2O (online to offline) sales channel expansion service for small and medium-sized enterprises (SMEs) and entrepreneurial management and networking service for entrepreneurs in China. The Company, through certain contractual arrangements with operating companies in the PRC, provides Internet advertising and other services for Chinese SMEs via its portal websites, 28.com, Liansuo.com and Chuangye.com, TV commercials and program production via China-Net TV, and in-house LCD advertising on banking kiosks targeting Chinese banking patrons. Website: http://www.chinanet-online.com. Safe Harbor This release contains certain "forward-looking statements" relating to the business of ChinaNet Online Holdings, Inc., which can be identified by the use of forward-looking terminology such as "believes," "expects," "anticipates," "estimates" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including business uncertainties relating to government regulation of our industry, market demand, reliance on key personnel, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. These forward-looking statements are based on ChinaNet's current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting ChinaNet will be those anticipated by ChinaNet. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the Company) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by such forward-looking statements. ChinaNet undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
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