What is Wanfang Network? Wanfang Network Review

Shenzhen Wanfang Network Co., Ltd. is a cross-border e-commerce enterprise driven by high-tech, with six core competitiveness, including independent shopping platform, self-operated host brand, channel strategic cooperation network, supply chain strategic cooperation network, supply chain finance, and self-created e-commerce supply chain management system. It is one of the founders of the domestic cross-border e-commerce model. It has established subsidiaries in the United States, the United Kingdom, Germany, Hong Kong, Xiamen, Changsha and other places.

About Wanfang Network

Wanfang Network mainly produces iRuLu 3C products through outsourcing OEM and sells them to end customers through online retail. The company's main customers are overseas electronic product users with Internet consumption concepts. This user group has the characteristics of a large base, high purchase frequency, and fast product experience dissemination speed.

Wanfang Network focuses on the cross-border e-commerce field in China. It has the strongest e-commerce sales channels in the United States and Europe, powerful electronic product supply chain integration capabilities, and an almost unlimited capital supply chain management system of more than 90 days. The company is committed to building a full-network and full-channel marketing model including eBay, Amazon, AliExpress, DHgate, Wish, Lazada, B2C websites, official websites and flagship stores. Its sales areas are widely distributed in the United States, Australia, Canada, Europe, Russia, Southeast Asia and the Middle East. It has also established large-scale professional storage and transportation bases and transit centers in major countries and regions around the world to achieve global integrated product supply.

Founder Introduction

Li Jianwen, male, born on August 6, 1971, Chinese nationality, no permanent residence abroad, Master of Business Administration (MBA), graduated from Renmin University of China in July 1995.

From July 1995 to August 2001, he worked in Shenzhen Sanjiu Pharmaceutical Trading Co., Ltd. of China Sanjiu Group as Assistant Manager of Market Research Department, Assistant Sales Manager of Guangdong and Guangxi Region, Sales Manager of Sanjiu Northern Region, and National Product Manager of Sanjiu. In June 2003, he obtained an MBA degree from Ohio State University in the United States.

From June 2005 to May 2016, he served as the executive director and general manager of Wanfang Network Co., Ltd. In May 2016, he was elected as the chairman of the joint-stock company and served as the company's general manager.

Wanfang Network Company independently created the IRULU brand tablet computer and has developed into a leader in the cross-border e-commerce field.

Sales Area

The products are directly sold to more than 20 countries and regions around the world, including the United States, Australia, the United Kingdom, Germany, Russia, and Brazil.

Revenue

-Wanfang Network's operating income in 2014 was RMB 211 million and its net profit was RMB 11.498 million.

-Wanfang Network's operating income in 2015 was 253 million yuan and its loss was 70.4631 million yuan.

- Wanfang Network's operating income from January to June 2016 was 139 million yuan and its net profit was -9.1779 million yuan.

-In 2017, the company achieved revenue of 152 million yuan; the net profit attributable to shareholders of the listed company was 49.9984 million yuan.

-Wanfang Network’s operating income in the first half of 2018 was 11.58 million.

Awards

In 2015, the company was awarded the honorary titles of "National High-tech Enterprise" and "Guangdong Province E-commerce Benchmark Enterprise".

iRULU, a local brand under Wanfang Network, has become an outstanding brand of "Movin Gamerica Forward" (Moving America Forward) by mainstream media and mass consumption in the United States, and was awarded the title of "Chinese National Brand" in CCTV's "Winning in Brands" column, and won the Best Cross-border E-commerce Brand of the Year. It has gradually become a household name in the cross-border e-commerce field and a people-friendly brand that is going global.

Dishonest executor

The China Enforcement Information Disclosure Network disclosed that Shenzhen cross-border e-commerce giant Wanfang Network and its actual controller were included in the list of dishonest debtors and issued consumption restriction orders, which involved procurement contract disputes and labor disputes.

develop

-In 2015, Wanfang made a large amount of share-based payments for equity incentives, and its business began to expand to countries such as Europe and Russia. Increased investment in marketing, R&D and sales also led to increased expenses.

-On June 12, 2016, Suzhou Zhixinshanzhi Investment Management Partnership (Limited Partnership) and Beijing Jinfuzejin Investment Management Center (Limited Partnership) invested RMB 18 million in Shenzhen Wanfang Network Co., Ltd.

-On February 16, 2017, Wanfang Network was listed on the National Equities Exchange and Quotations, with the stock name: Wanfang Network.

-In March 2017, Wanfang Network and Shenzhen Fusen Supply Chain Management Co., Ltd. reached a strategic partnership to open up the entire supply chain from manufacturing + to retail (M2C).