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Sealand to help brands sell into China via TikTok
25th Jun 2020 09:51
(Sharecast News) - Sealand Capital's shares more than quadrupled after the early-stage investor announced a joint venture with China's Tenet for foreign merchants to sell into China via TikTok and other short video platforms
The companies have formed Tengwuyang Holdings as a one-stop advertising provider for companies wishing to sell products and services into China through Tiktok, known as Douyin in China, and Kuaishou. The short video mobile platforms have more than 400m and 216m users respectively.
Tengwuyang will produce short, original videos reflecting the client's brand and help them build and advertise their brands in China, the world's second-biggest economy. Sealand said UK brands are popular in China because of their reputation for quality and relative rarity.
Sealand shares rose 437.5% to 4.3p at 10:24 BST.
Tenet is a subsidiary of Tencent - DaiYueWang, whose website has lots of Chinese users and is owned by Shenzhen Tencent Computer System and Nanfeng Media Group, Sealand said. Tenet has worked with Sealand's New Sky Global Media subsidiary since 2019 to help multinational companies enhance and raise the profile of their brands in China, it said.
Nelson Law, Sealand's executive chairman, said: "We are very excited about the JV we have set up with our trusted partner, Tenet, which has an extremely strong offering in the short video apps market. We can leverage their skill sets to provide a digital bridge between Chinese consumers and foreign merchants.
"We are now actively marketing to local brands across the United Kingdom, especially those which have not been sold in China to date and are looking to access that lucrative and large market."
The companies have formed Tengwuyang Holdings as a one-stop advertising provider for companies wishing to sell products and services into China through Tiktok, known as Douyin in China, and Kuaishou. The short video mobile platforms have more than 400m and 216m users respectively.
Tengwuyang will produce short, original videos reflecting the client's brand and help them build and advertise their brands in China, the world's second-biggest economy. Sealand said UK brands are popular in China because of their reputation for quality and relative rarity.
Sealand shares rose 437.5% to 4.3p at 10:24 BST.
Tenet is a subsidiary of Tencent - DaiYueWang, whose website has lots of Chinese users and is owned by Shenzhen Tencent Computer System and Nanfeng Media Group, Sealand said. Tenet has worked with Sealand's New Sky Global Media subsidiary since 2019 to help multinational companies enhance and raise the profile of their brands in China, it said.
Nelson Law, Sealand's executive chairman, said: "We are very excited about the JV we have set up with our trusted partner, Tenet, which has an extremely strong offering in the short video apps market. We can leverage their skill sets to provide a digital bridge between Chinese consumers and foreign merchants.
"We are now actively marketing to local brands across the United Kingdom, especially those which have not been sold in China to date and are looking to access that lucrative and large market."