MOU Signed with Winning Group Holdings: Invigor Group Ltd.’s (ASX: IVO) stock skyrocketed 100% on September 18, 2018 to A$0.0060 after the company signed an important MoU (memorandum of understanding) with China’s Winning Group Holdings, which is a global solutions provider for WeChat international services, that includes mobile payments, applications, development and other related services. IVO is a leading B2B data analytics and business intelligence group that provides Visitor, which is a cloud-based platform that provides data analytics and actionable insights for physical movement and in-venue digital behavior, and also offers Shopper that enables discovery and purchase of online product catalogue providing a personalized shopping experience to its customers. WeChat (owned by Tencent Hldings) has over 1 billion users and 900 million are currently using WeChat Pay. Under the MOU, IVO and Winning Group will market and enhance WeChat Services, including WeChat Pay to the South-East Asian market, initially in Singapore and Hong Kong.
According to the MoU, the two companies will partner for an initial period of 3 years including a 3-month pilot program, before deciding whether to extend or amend the terms of the deal. The agreement will also cover the integration of IVO’s proprietary loyalty solution into the WeChat platform, which will create a more compelling proposition for merchants that use WeChat Pay, targeting China and other markets where WeChat Pay is present. Moreover, IVO will get revenue through Aa percentage of transaction revenue (currently projected at 0.5%) from merchants using WeChat Pay when introduced/acquired by IVO. The company will get the advertising revenue when either party initiates a marketing/promotional campaign with a merchant. The company will earn the transaction fees from merchants based on sales revenue when IVO’s Loyalty solution is deployed.
The group has also been into capital raising and balance sheet restructuring. In its half year result, the group reported a significant rise of 28% in revenue while net losses were narrowed down. The group has been up and running in terms of developing SaaS technology capabilities.
Meanwhile, IVO stock has fallen 50% in three months as on September 17, 2018.
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