- Peak Positioning Technologies (PKK) has signed an agreement with packaged foods wholesale distributor, Beijing Jingying Corporate Management
- Under the agreement, Peak will provide its Cubeler Lending Hub financing solution to BJM and its 250,000 retail clients
- BJM is the second wholesale distributor to subscribe to Peak’s program, after Beijing Dianjing Company (BDC)
- BDC and its 60,000 online retail clients helped to launch the Lending Hub’s inaugural transactions just last week
- Peak Positioning Technologies is up 12.78 per cent and is currently trading for $1.50 per share
Peak Positioning Technologies (PKK) has signed an agreement with packaged foods wholesale distributor, Beijing Jingying Corporate Management.
BJM is a major distributor of various popular products from China Oil and Foodstuffs Corporation, China’s largest food processor, manufacturer, and commodities trader. In particular, BJM is an authorised distributor of RELX brand e-cigarettes, one of China’s most popular e-cigarette brands.
Under the agreement, Peak will provide its Cubeler Lending Hub financing solution to BJM and over 250,000 of its retail clients. The program allows for retailers to have up to 90 per cent of the price of products purchased from participating distributors to be financed through the Hub’s banks and lending institutions.
Peak Group China’s CEO, Liang Qiu, welcomed BJM to the company’s new Lending Hub financing program.
“BJM’s arrival to the program brings us a great mixture of online and offline stores, and allows us to further showcase Lending Hub’s versatility when it comes to its ability to help businesses up and down the supply chain, whether they operate predominantly online or offline,” he said.
“We’ve noticed something of a blurring of the online and offline retail space lately, including JD.com announcing plans for a network of 5 million brick-and-mortar stores in the next three years,” he added.
He went on to say that Peak is ideally positioned to play a role in this blurring and evolution of the retail space, thanks to Lending Hubs’ processing capabilities both online and offline.
BJM is the second wholesale distributor to subscribe to Peak’s financing program, after Beijing Dianjing Company (BDC). BDC and its 60,000 online retail clients helped to launch the Lending Hub’s inaugural transactions just last week.
Peak Positioning Technologies is up 12.78 per cent and is trading for C$1.50 per share, as of 3:28pm EST.