NEW YORK, Aug.14, 2017
/PRNewswire/ -- Seven Stars Cloud Group, Inc. (NASDAQ: SSC)
("SSC" or the "Company"), today announced two additional joint
venture partnership deals with entities that will integrate and
gradually move certain segments of their operations towards SSC's
VPaaS in early 2018.
The first JV Partnership is with Ocasia Group Holdings
("Ocasia"), which is engaged in a broad range of activities
including the trading of physical crude oil, fuel oil and refined
oil products as well as oil storage facilities. Ocasia is a
purchasing agent for major energy companies, including Petro China and China Petroleum & Chemical
Corporation (Sinopec).
The second is with Beijing Urban Construction Holding Materials
Industry Co. ("Beijing Urban Construction") a large international
construction group engaged in general contracting, real estate
development and design & real estate consultancy. Beijing
Urban Construction has constructed many national and provincial key
projects in China including the
National Stadium, the National Theater for the Performing Arts, the
National Museum, the National Indoor Stadium, the Olympic
Basketball Stadium, the Olympic Village and Terminal 3 of Beijing
Capital International Airport.
Both businesses do billions of US dollars a year in purchasing
and procurement turnover and both are examples of the businesses
that SSC will be looking to partner with moving forward.
Seven Stars Cloud's VPaaS Intelligent Industrial Internet and
Exhibition Platform will help buyers and sellers (who are trade
participants of both both Ocasia and Beijing Urban Construction's
business models) establish a "group to group" self-service network
community through Big Data, Business Intelligence and BlockChain
settlements, providing broker free, marketing services, supply
chain finance and other fast settlement business services.
About Seven Stars Cloud, Inc.
(http://corporate.sevenstarscloud.com/)
Seven Stars Cloud Group, Inc. (NASDAQ: SSC) is aiming to be a
leading Intelligent Industrial internet solution provider for
commercial enterprises. With a focus on 'BASE' technology and
infrastructure (Blockchain, Artificial Intelligence, Supply Chain
& Exchanges) to power our VPaaS (Virtual Platform as a
Service), SSC is creating a closed trade ecosystem for buyers and
sellers designed to eliminate supply chain and transactional
middlemen and create a more direct and margin-expanding trading
path for principals. SSC is applying BASE + VPaaS to focus on 3
Core Cloud Areas: I. Intellectual Property Cloud; II. Product Sales
Cloud; III. Financial Services Cloud. With the three clouds
functioning both independently and interdependently, SSC is
creating a vertical, transactional and flexible platform for
today's global enterprises.
Safe Harbor Statement
This press release contains certain statements that may
include "forward looking statements." All statements other than
statements of historical fact included herein are "forward-looking
statements." These forward looking statements are often identified
by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions, involve known and unknown risks
and uncertainties. Although the Company believes that the
expectations reflected in such forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. You should not
place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company's
actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of
factors, including those discussed in the Company's periodic
reports that are filed with the Securities and Exchange Commission
and available on its website (http://www.sec.gov). All
forward-looking statements attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by
these factors. Other than as required under the securities laws,
the Company does not assume a duty to update these forward-looking
statements.
CONTACT:
Jason Finkelstein
VP, Strategy & Investor
Relations
Seven Stars Cloud Group,
Inc.
212-206-1216
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SOURCE Seven Stars Cloud Group, Inc.