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April update and CFO change

May 4, 2021 Appointments / Movers & Shakers No Comments

Aumake Limited (ASX: AUK, Aumake, or the Company), operator of an emerging Australian-based social e-commerce marketplace that connects Asian influencers and consumers with highquality and authentic Australian and Zealand brands, provides the following trading update for April. Significant user response to influencer specific WeChat mini application launched 12 April with more than 3,400 new active users registering
 New brand products shipped to Free Trade Zone in Ningbo, China, ahead of direct marketing campaign through the award-winning Hangzhou social e-commerce team in May
 Appointment of Tony Guarna as Chief Financial Officer, bringing more than 30 years’ financial experience to the Company.

Social e-commerce marketplace
Since the launch of Aumake’s customised WeChat mini application on 12 April, more than 3,400 new active users have registered, with over $300,000 in GMV transacted from these users during the period. Aumake believes the majority of these onboarded new active users are likely already influencers or conducive to being converted to influencers, rather than end consumers, based on the following:

 Daily new user registration levels are significantly higher relative to pre-launch levels with minimal acquisition/advertising costs incurred, suggesting the Aumake mini application is being shared amongst onboarded user social networks; and
 Transaction values per order are significantly higher with average daily GMV growing relative to prelaunch, suggesting many users have registered for the purpose of trying Aumake’s WeChat mini application’s B2B functionality and their social network purchasing products during the trialling process.

New users onboarded in April bring total online active users on Aumake’s social e-commerce platform to more
than 27,400, and total online GMV since initial launch in October 2020 to over $4.7 million.

Aumake’s WeChat mini application has been specifically designed to support the growth of influencers and their businesses, featuring group buying, live streaming and advanced account management tools. A loyalty scheme provides influencers with better pricing, discounts and priority access to new brands and products.

The early response to Aumake’s WeChat mini application is encouraging, particularly as it has been marketed as an online platform specifically designed to support influencers. The upgraded B2B functionality facilitates and incentivises influencers to promote new products to their social network. This B2B2C approach is significantly different to Aumake’s competitors, who operate online platforms which predominantly target end consumers and lead on price.

New brands update To drive active user and GMV growth, Aumake is launching a new direct marketing campaign in May which will promote 19 SKUs across skincare and health supplements through the Hangzhou social e-commerce team.

Promoted brands include Aumake’s two owned brands, Juene and Herbsmart, and Rachael Finch’s Kissed Earth. Products have been shipped to a bonded warehouse in a Free Trade Zone in Ningbo, China, facilitating faster delivery, faster customs clearances and deferment of taxes and duties until goods are moved out of the Free Trade Zone.

In addition, Kissed Earth co-founder Ms Rachael Finch has recently taken part in a promotional event at Aumake’s Town Hall Sydney CBD store, meeting the Company’s top local influencers. The event was simultaneously live streamed to China-based influencers via the Hangzhou social e-commerce team.

Aumake is building on this early momentum, continuing to promote the mini application through cost-efficient
social media channels in China including Douyin (TikTok). The Company is also assessing collaboration opportunities with logistics providers to expand product categories, and potentially increase its presence outside of China.

Change of Chief Financial Officer
Chief Financial Officer Mr Peter Zhao has resigned to pursue a new career opportunity, effective 3 May 2021.

Replacing Mr Zhao as Chief Financial Officer is Mr Tony Guarna.

Mr Guarna has more than 30 years’ financial experience across management consultancy, mergers and acquisitions, and auditing. Highly qualified, he has previously held CFO and Finance Manager positions at numerous ASX-listed companies including SciDev Limited (SDV), Austral Gold Ltd (ADG) and Freedom Insurance Group Ltd (FIG). Mr Guarna has a Bachelor of Commerce in Accounting, Finance & Systems, a Graduate Diploma in Applied Finance & Investment, and is a Chartered Accountant.

Aumake Executive Chairman Keong Chan said, “On behalf of the Board and the entire team at Aumake, I’d like to acknowledge Mr Zhao’s significant contribution to the Company. We wish him all the best in his new endeavours. Mr Guarna joins the team at pivotal point in the Company’s evolution and improving financial profile. His extensive listed experience will be invaluable as we scale our social e-commerce marketplace and implement new revenue streams.”

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