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Cogobuy

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Cogobuy Group
Native name
科通芯城
Company typePublic
SEHK: 400
IndustryConsumer Electronics
FoundedFebruary, 2012
FounderJeffrey Kang
Headquarters
Shenzhen, Guangdong
,
China
Number of locations
18
Area served
Worldwide
Key people
Jeffrey Kang
(Chairman and CEO)
BrandsCogobuy.com
RevenueIncrease CN¥12.9 billion (2016)
Increase CN¥649 million (2016)
Increase CN¥510 million (2016)
Total assetsIncrease CN¥8.6 billion (2016)
Total equityIncrease CN¥3.7 billion (2016)
Number of employees
500
Subsidiaries
  • IngDan
  • Comtech
  • FOXSAAS
WebsiteCogobuyGroup.com

Cogobuy Group is a Chinese enterprise service platform.

Following a major business restructuring in 2019, the group merged chip sales service on Cogobuy.com into Comtech, and merged R&D and IoT product financing and corporate services, previously under INGDAN.com AIoT business services platform, into IngDan, forming a new “Comtech + IngDan” dual business model.

IngDan focus on developing proprietary products for different AIoT industries, including the Internet of Vehicles, smart homes, AI surveillance, etc. [1]

History

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1995–2012: Pre founding

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Cogobuy was founded by Jeffrey Kang in February 2012.[2] The founder had previous experience in the electronic component industry in China where, prior to founding Cogobuy, he owned and operated companies which had comparable service offerings.[3] One such company was Comtech, founded in 1995, which has since become a subsidiary of Cogobuy and has continued its operations.[4]

2012–2014: Early history

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After being founded, Cogobuy acquired several entities previously owned by Viewtran (a company also founded by Jeffery Kang), which continued their operations in the trading of IC and other electronic components.[5]

In 2014, Cogobuy's stock floated an initial public offering on the Hong Kong Stock Exchange at HK$4.00 per share under the symbol SEHK: 400, raising HK$1.37 billion and underwritten by UBS.[6][7] Over the first year, its stock had a return of 107.75%.[8]

2014–present: Continued developments

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In 2015, Cogobuy and its subsidiary IngDan (硬蛋) formed a strategic cooperation with Chinese technology company Lenovo to develop IoT and Smart Home devices.[9][10] Prior to the partnership, Lenovo primarily purchased its IC components from Cogobuy.[11]

In 2017, Cogobuy alongside IngDan entered into collaboration with Haier to develop smart appliance products.[12][13]

Cogobuy and its subsidiary IngDan formed a partnership with Toyota in 2019 to collaborate and create a Smart Car Ecosystem to enable better utilisation of smart-car technologies and move in the direction of intelligence-oriented product development.[14]

Products and services

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E-Commerce Platform

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Cogobuy's e-commerce platform, named Cogobuy.com, includes primarily a direct sales platform and an online marketplace.[15] It serves electronic manufacturers, including small and medium-sized enterprises.[16][17] The online marketplace, launched in 2013, enables third-party merchants sell their products to customers and pay Cogobuy commissions.[18] The direct sales platform instead offers electronic components to customers directly.[19]

In 2013, Cogobuy's online sales increased from RMB$217 million to RMB$3.9 billion (US$35.07 million to US$630.30 million), resulting in approximately 50% marketshare of the Chinese online electronic components market.[20]

In 2015, the direct sales platform accounted for 76.1% of the revenue generated by the website, with the online marketplace accounting for 16.3% and the balance resulting from supply chain financing.[21]

CRM Platform

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Cogobuy provides a CRM service primary for Chinese small and medium-sized enterprises through its wholly owned subsidiary FOXSAAS.[22]

References

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  1. ^ "科通芯城集團". www.cogobuygroup.com. Retrieved 2022-03-18.
  2. ^ "Cogobuy Group (0400 HK): A product of fruitful M&A" (PDF). SBI China Capital Financial Services Limited. 2014.
  3. ^ "Cogobuy E-Commerce Site Enterpreneur [sic] Joins China's Billionaires Ranks". Forbes. 2015.
  4. ^ Zhang, Xu; Fan, Bill; Ng, Wai (1 September 2014). "A leading vertical e-commerce platform serving the electronics manufacturing industry in China" (PDF). China Securities International Research. Archived from the original (PDF) on 19 February 2019.
  5. ^ "Viewtran Annual Report". U.S. Securities and Exchange Commission. 2014.[permanent dead link]
  6. ^ "UBS Coordinated Prospectus 2014" (PDF). UBS. 2014.
  7. ^ "Investors buy Cogobuy story with $177m HK IPO". SBIGlobal Capital. 2014.
  8. ^ "Bloomberg Markets - Cogobuy HK:400". Bloomberg. 2015.
  9. ^ MarketScreener (2015-05-28). "Cogobuy : Lenovo to Build Intelligent Hardware Ecosystem | MarketScreener". www.marketscreener.com. Retrieved 2019-01-21.
  10. ^ "艾華迪集團 - Cogobuy Launches Strategic Cooperation with Lenovo to Build Intelligent Hardware Open Ecosystem". www.avaval.com. 2015-05-29. Archived from the original on 2019-01-21. Retrieved 2019-01-21.
  11. ^ Nona, Tepper (2016-05-20). "Sales surge 56% on Cogobuy's electronics marketplaces". Digital Commerce 360. Retrieved 2019-01-21.
  12. ^ "Cogobuy Enters Booming Voice-Controlled Home Appliances Market". Business Insider. 14 March 2017.
  13. ^ "Cogobuy Partners with Samsung ARTIK™ Enhancing its Competitive Edge as a Leading IoT Innovation Platform". The Business Journals. 17 September 2017.
  14. ^ "INGDAN.com Partners with Toyota to Build New Smart Car Ecosystem That Will Empower Technology Upgrades Across the Automotive Industry". Owler. January 28, 2021.
  15. ^ "Cogobuy Becomes Supply Chain Service Platform of Zhongguancun Science Park". Reuters. 2015.[dead link]
  16. ^ "M2M Beyond the Enterprise: The Rise of the Connected SME". The Engineer. 2014.
  17. ^ "Main Board Listing Research" (PDF). East Asia Securities Co Finance Holdings. 2014.
  18. ^ "Cogobuy IPO Company Information". etNet News. 2015.
  19. ^ "Cogobuy Implemented A Strategic Cooperation To Jointly Build An Intelligent Hardware Ecosystem". EFY Times. 2015. Archived from the original on 2015-12-22. Retrieved 2015-08-10.
  20. ^ "Chinese online electronics distributor Cogobuy raises $177 million in an IPO". Vertical Web Media. 2014.
  21. ^ "Sales Surge 63% on China's Cogobuy Electronics Marketplace". Internet Retailer News. 2015.
  22. ^ 2016 Annual Report (PDF).
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