ChinaNet Online Holdings Signs Top Textile Company
BEIJING, April 24, 2013 (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 the Company's subsidiary,
Liansuo.com, signed an agreement with Mendale Textile Limited ("Mendale") to
help expand its franchise in China and internationally.
"We are excited about working with a growing firm such as Mendale," stated Mr.
George Chu, COO of ChinaNet. "Mendale has successfully expanded its owned and
operated stores, as well as its franchise stores, across several provinces in
China. Liansuo.com will provide online advertising and marketing to help
Mendale further increase its brand recognition among consumers and
Founded in 1956, Mendale is a leading textile manufacturer focused on bedding
and upholstered furniture. The Company operates 852 stores and 810 counters
across China, with stores in Beijing, Shanghai, Guangzhou and other cities.
Mendale generated approximately $170 million in sales in 2012 and began
trading on the Shenzhen Stock Exchange in 2010.
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:
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
CONTACT: MZ North America
Ted Haberfield, President
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