Investor Magazine coverage, page-4

Not too sure if its ok to post the article. But if you've tried searching then maybe as a one off ill post the part relevant to NNW only. Its from the Oct 2014 current issue.

Hong Kong-based 99 Wuxian is benefiting from substantial activity in the Chinese mobile commerce market. The group has the potential to grow earnings exponentially, supported by the proliferation of mobile devices capable of paying utility bills, purchasing credit for phones or simply buying consumer goods. To provide a snapshot of the underlying dynamics, China’s mobile internet population reached 500 million in 2013, and 318 million smartphone units were shipped in that year, representing annual growth of 64.1 per cent.

99 Wuxian proved in its results for the six months to June 30 that it is reaping the rewards of industry dynamics as well as leveraging off its strong relationships with major banks and benefiting from its proprietary technology platform. During this period registered users grew to more than 31 million, up from 20.7 million as at June 30, 2013. Foster Stockbroking noted gross transaction value as of June 30, 2014, was $579 million, and if it follows a similar growth trajectory to last year, the full-year gross transaction value could reach $2.3 billion.

Foster maintained its 2013-14 profit forecast of $6 million from revenues of $41 million. However, 99 Wuxian is more of a 2015 story with revenue expected to more than double to $88 million, while the broker forecasts profit will more than treble to $19.5 million. This serves to support Foster’s 12-month price target of 90¢.