Ninetowns (NINE:US) was founded in 1995, and became the first Chinese software company to trade on the NASDAQ Stock Exchange following its initial public offering in December 2004. As a leading provider of online solutions for international trade, with around 90% market share, Ninetowns’ import/export e-filing services enable over 134,000 enterprises to accelerate the declaration process.
In order to leverage its unrivalled technological capability within its core Enterprises to Government (B2G) business and create complementary revenue streams, Ninetowns has strategically expanded its scope of activities to encompass its Business to Consumer (B2C) e-Grocery and Smarter City real estate development (SCRE) businesses.
Ninetowns’ B2C service offering was launched in April 2010 via vertical e-commerce portal www.tootoo.cn. The portal provides a convenient and high-quality platform for consumers, located primarily in the Beijing metropolitan area, to purchase organic and other fresh and natural food products for delivery to their homes, thus providing customers with a farm-to-table online food buying experience.
Ninetowns launched its Smarter City Real Estate development initiative (SCRE) in early 2011 to take advantage of the growth potential within China’s real estate market and the rapid urbanization of third- and fourth-tier cities. Ninetowns is currently developing four well-selected projects which together comprise approximately 600 thousand square meters construction area..
In conducting its business activities, Ninetowns strives to maximize long-term value for shareholders and stakeholders by leveraging its extensive IT industry core competence to capitalize on new and unique opportunities within China’s growing economy.