Jingwei International, the provider of marketing information and services in China to Best Buy and Nokia, expects to triple revenue in three years by adding more consumers to its database and expanding outdoor advertising.
"Our goal is to add 100 million people to our database of consumer profiles," Regis Kwong, chief executive officer of Shenzhen-based Jingwei, told Bloomberg News in New York. "Three years from now, we'll be a totally different company. Revenue will be at least three to fourfold from where we are right now."
Jingwei has data on 300 million Chinese people, including their addresses, ages, gender and buying habits, which it uses to help companies sell products and services.
The database may increase to 400 million in a year, Kwong said. Revenue was US$24.1 million last year and may reach US$96 million in three years, he added.
Jingwei rose 8 cents, or 1.9 percent, to US$4.25 in OTC Bulletin Board trading last Friday. The shares have lost 41 percent this year. The company has applied for a listing on the Nasdaq Stock Market. "We're planning to get it done by the end of the year," Kwong said. "That's our objective."
Jingwei entered the outdoor advertising business through the acquisition this year of Henan Red Flag. The unit, which places digital ad displays at bus stops, will add to revenue in 2009, Kwong said.
"Outdoor advertising is huge in China," he said, estimating the market at US$12 billion a year.
