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Media-related Business > Internet Cafe Chain - Sunnet Cafe
 

In late April 2003, the Ministry of Culture of China announced the notice of "Strengthening the Chain Management of Business Premises for Internet Access Services", defining the direction for the development of internet cafe chains. The Ministry of Culture plans to turn 60% of China's internet cafes into chain enterprises in the coming three years. Judging from the current internet cafe market, the total investment in internet cafes amounts to approximately RMB100 billion.

To capture the market opportunities, Stone Holdings and Beijing Jing Wen Records have joined forces to develop the Sunnet Cafe initiative, with an aim to establish China's most advanced cultural network platform in Guangdong Province. After being granted the permit by the Guangdong Provincial Department of Culture in November 2003, Guangdong Sunnet Cafe Development Co., Ltd. (“Sunnet Cafe Ltd. was incorporated successfully in December 2003, earning the applauses of customers with its healthy, bright and stylish image. As at 30 September 2008, 76 directly operated and franchised shops are under operation. Shops are mainly located in Guangzhou, Dongguan and Foshan. Turnover during the period amounted to RMB 3.33 million.

Stone Holdings has controlling interests in Sunnet Cafe Ltd. With the establishment of the framework and the large number of franchised internet cafes, the company will enjoy significant economies of returns in the coming years.



 
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