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SINGAPORE - Webuy Global Ltd. (NASDAQ:WBUY), a technology company currently trading at $5.99 per share with a market capitalization of $4.62 million, has signed a Memorandum of Understanding (MOU) with CTG MICE Service Company Limited to jointly develop inbound tourism services to China, according to a press release issued Friday. According to InvestingPro analysis, the company appears slightly undervalued at current levels.
The partnership aims to facilitate the annual arrival of at least 20,000 travelers to China by enhancing infrastructure, designing travel routes, and delivering VIP services. CTG MICE is a subsidiary of China Tourism Group Travel Services Co. Ltd., which is part of China Tourism Group Corporation Limited, China’s largest state-owned tourism enterprise. This expansion comes as InvestingPro data shows Webuy’s revenue reached $58.3 million in the last twelve months, with analysts forecasting sales growth in the current year.
Under the agreement, Webuy’s travel vertical WeTrip will work with CTG Travel to provide end-to-end travel experiences including visa facilitation, conference support, and access to heritage sites. CTG Travel will serve as WeTrip’s exclusive inbound travel service provider in China.
The collaboration will offer VIP customs clearance, customized city itineraries, heritage tours, and jointly curated campaigns such as "Cultural Tourism Going Global" and "International Cultural Exchange."
"Our mission has always been to make travel more meaningful and accessible," said Bin Xue, CEO of Webuy Global Ltd, in the statement.
Webuy Global describes itself as a technology-driven company operating in community e-commerce and travel across Southeast Asia. CTG MICE specializes in comprehensive MICE (Meetings, Incentives, Conferences, and Exhibitions) services for institutional clients including government entities and Fortune Global 500 companies. While the company maintains a healthy current ratio of 1.32 and holds more cash than debt, InvestingPro analysis reveals 14 additional key insights about the company’s financial health and growth prospects, available to subscribers.
The announcement comes as China continues its reopening to international tourism following pandemic-related restrictions. Despite the company’s strategic expansion, investors should note its current gross profit margin stands at 7.32%, reflecting the competitive nature of the travel and e-commerce sectors.
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