Business
Nocera, Inc. Completes Strategic Acquisition, Partnering with Zhejiang Xinca Mutual Entertainment Culture Media to Cultivate the Global E-Commerce Market
TAIPEI, TAIWAN / ACCESSWIRE / February 6, 2024 / Nocera, Inc. (NASDAQ:NCRA) ("Nocera" or the "Company"), a fully integrated sustainable aquaculture company
About this update from Nocera, Inc.
[{"type":"text","content":"TAIPEI, TAIWAN / ACCESSWIRE / February 6, 2024 / Nocera, Inc. (NASDAQ:NCRA) (\"Nocera\" or the \"Company\"), a fully integrated sustainable aquaculture company focused on the manufacturing and operation of land-based Recirculating Aquaculture Systems (RASs), today its acquisition, through its wholly-owned subsidiary, Shanghai Nocera Culture Co., Ltd., of 100% of the issued and outstanding equity interests of Zhejiang Xinca Mutual Entertainment Culture Media Co., LTD.( \"Xinca\"), a domestic funded limited liability company registered in China (PRC), using Variable Interest Entity agreements (VIE). This strategic acquisition marks a significant milestone for Nocera, positioning the Company for accelerated growth within the e-commerce market, commencing with the China market on the Douyin platform. The purchase price of the of equity interests of Xinca was 1.8 million unregistered shares of common stock of the Company. The acquisition closed on January 31, 2024.Xinca has established a successful e-commerce model on Douyin, the prominent Chinese short-form video application and sibling platform to TikTok in the United States. Both Douyin and TikTok are subsidiaries of Beijing-based parent company ByteDance. Xinca has achieved remarkable success through its prowess in content creation, dynamic marketing strategies, and exceptional e‑commerce conversion rates. The company has amassed invaluable insights, resources, and data on user behavior, established prominent influencer networks, and executed highly efficient product sales strategies. Nocera is excited to leverage these assets, enabling the Company to introduce fish sales on Douyin in China, with plans to replicate this success on TikTok in the United States.ByteDance's Douyin/TikTok platform boasts a global user base of 1.5 billion people, with projections suggesting it will reach 2 billion users by the end of 2024. These figures underscore Douyin/TikTok's substantial impact on the global social media landscape and its rapid ascent in the e-commerce sector.Andy Jin, Chief Executive Officer of Nocera, expressed his enthusiasm for this transformative acquisition, stating, \"This strategic partnership is poised to enhance Nocera's competitive advantage, particularly in the Douyin e-commerce sector in China. As the global e-commerce and content marketing landscape intensifies in com...