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Taiwan's Addcn eyes Hong Kong as first step in overseas expansion
Central News Agency
2014-06-13 11:18 PM
Taipei, June 13 (CNA) Addcn Technology Co., a company that operates a series of Internet-based businesses, including an online real estate platform, said Friday that it has selected Hong Kong as its first step in its drive to expand overseas. Addcn Technology currently operates 8591.com.tw, a platform for trading online games; 591.com.tw, a real estate information network platform; 101.com.tw, a platform for selling apparel; and 8891.com.tw, a car trading platform. The company said after an annual general meeting that if it is to continue to grow, overseas markets will be the key, and it has studied the markets in Southeast Asia as possible targets since last year. It found that while Hong Kong has a large real estate market, people there rely mostly on property agents. Hong Kong does have housing websites, the company said, but their traffic is limited and their brand marketing abilities are relatively weak. Addcn Technology cited Hong Kong's largest housing website as an example, noting that it got only 20,000 visitors a day, compared with the 300,000 visits a day the 591.com.tw site in Taiwan attracts. "This shows there is great room for growth in the housing website market in Hong Kong," it said. The company expects to set up a foothold in Hong Kong in the third quarter, hoping to become a largest housing portal in Hong Kong within two years. The company, which is listed on Taiwan's over-the-counter market, had earnings per share of NT$3.08 in the first quarter, the highest of any of Taiwan's Internet stocks. (By Lo Hsiu-wen and Lilian Wu)
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