Kent Oliver's questions to Mercurity Fintech Holding (MFH) leadership • Q4 2016
Question
Kent Oliver of Star Axis Fund inquired about the number of supplier agreements signed in Q4 2016, the expected trend for Q1 2017, progress on mobile app development, and Q1 financial trends. He also asked for an overview of the competitive landscape in China and details on the company's R&D and growth initiatives for 2017.
Answer
Senior Executive Jonathan Wang stated that JMU signed approximately 10 new supplier agreements in Q4 2016 out of 29 for the full year. He noted that Q1 is typically slower for new signings but expects the pace to accelerate in Q1 and Q2 2017. Wang also highlighted development efforts on their WeChat app, described the competitive environment as primarily local with significant price pressure, and detailed R&D initiatives for 'half-cooked' food products to enhance profitability. CFO Frank Zhao declined to provide Q1 guidance but confirmed no unusual charges were anticipated for the quarter.