Aumake's Q2 FY24 Quarterly Activities Report

Aumake Limited (ASX: $AUK), the operator of an Australian based social e-commerce marketplace, has released its consolidated quarterly cashflow and activities reports for the quarter ended 31 December 2023 (Q2 FY24). The company focused on delivering initiatives outlined in its Strategy Update and growing revenue through new channels introduced by its strategic partner and investor HK Huibeijia Brand Manage Co Ltd (HKH).

Executive Commentary on Q2 FY24 Activities

Aumake has made significant progress in executing its strategic initiatives during Q2 FY24. We are pleased with the successful execution of the non-binding term sheet with Petersons Wines Pty Ltd to offer premium products and tourism experiences in NSW's Hunter Valley. Additionally, our participation in the 6th CIIE in Shanghai has resulted in a Strategic Framework Agreement with the Chinese State-Owned Enterprise, China Animal Husbandry Group, further strengthening our position in the Chinese market. The capital raised through Novus Capital Limited has enhanced our operational capabilities and provided us with the necessary resources to explore new initiatives and strengthen our position in the Australia-China market. We are also excited about the progress in negotiating co-branded outsourced retail stores in Australia, which presents a significant growth opportunity for Aumake.

Summary of Q2 FY24 Activities and Outlook

Aumake's Q2 FY24 activities have been focused on driving revenue growth through strategic partnerships and market expansion. The company's collaboration with HKH has opened new channels for revenue generation, particularly in the Chinese market. The successful execution of the non-binding term sheet with Petersons Wines Pty Ltd and the Strategic Framework Agreement with China Animal Husbandry Group demonstrate Aumake's commitment to expanding its product offerings and market reach. The capital raised during the quarter has strengthened the company's financial position and provided the necessary resources to explore new initiatives and leverage the improving Australia-China relations. Aumake's focus on negotiating co-branded outsourced retail stores in Australia and refining the tourism experience offering in NSW's Hunter Valley reflects its commitment to driving growth and enhancing its product portfolio. Looking ahead, Aumake is well-positioned to capitalize on the opportunities in the Asian market and drive further revenue growth through its strategic initiatives and partnerships.