ChinaNet Online Holdings Announces Expansion of Corporate Business and Technology Headquarters to Guangzhou, China
January 15 2020 - 6:00AM
ChinaNet Online Holdings, Inc. (Nasdaq:CNET) ("ChinaNet" or the
"Company"), an integrated online advertising, precision marketing,
and data analysis and management platform company, today announced
that it will expand its corporate business and technology
headquarters to Guangzhou, China. The Company is currently in the
process of finalizing the location of its new headquarters in
Guangzhou while preparing to make the necessary renovations prior
to moving in. As part of the expansion, the Company will also move
its technology team to its new headquarters in the South. The
Company is currently targeting March 2020 as its move-in date.
Mr. Handong Cheng, Chairman, President, and
Chief Executive Officer of ChinaNet, commented, “The decision to
expand our corporate business and technology headquarters has been
made in alignment with our long-term growth plans to further
increase the penetration of our blockchain services throughout the
domestic market, as well as our interaction with our potential
partners in the South, like Tencent. Notably, this expansion will
enable us to consolidate our resources, operations, and
technological capabilities to enhance both the reliability and
security of our blockchain services while simultaneously optimizing
our location for client proximity. Such advantages will reduce our
operational costs, streamline our expansion efforts, broaden our
access to a wider pool of manufacturing clients with a desire for
reliable blockchain services, and increase our revenue stream in
2020.”
About ChinaNet Online Holdings,
Inc.
ChinaNet Online Holdings, Inc., a parent company
of ChinaNet Online Media Group Ltd., incorporated in the BVI
(ChinaNet), is an integrated online advertising, precision
marketing and data-analysis and management services platform.
ChinaNet provides prescriptive analysis for its clients to improve
business outcomes and to create more efficient enterprises. The
Company leverages an optimization framework, provided by its
comprehensive data-analysis infrastructure, to blend data,
mathematical, and computational sciences into an outcome management
platform for which it monetizes on a per client basis. ChinaNet
uniquely optimizes and prescribes its clients decision making
processes based on its proprietary ecosystem. For more information,
visit www.chinanet-online.com.
Safe Harbor Statement
This release contains certain "forward-looking
statements" relating to the business of ChinaNet Online Holdings,
Inc., which can be identified by the use of forward-looking
terminology such as "believes," "expects," "anticipates,"
"estimates" or similar expressions. Such forward-looking statements
involve known and unknown risks and uncertainties, including
business uncertainties relating to government regulation of our
industry, market demand, reliance on key personnel, future capital
requirements, competition in general and other factors that may
cause actual results to be materially different from those
described herein as anticipated, believed, estimated or expected.
Certain of these risks and uncertainties are or will be described
in greater detail in our filings with the Securities and Exchange
Commission. These forward-looking statements are based on
ChinaNet's current expectations and beliefs concerning future
developments and their potential effects on the Company. There can
be no assurance that future developments affecting ChinaNet will be
those anticipated by ChinaNet. These forward-looking statements
involve a number of risks, uncertainties (some of which are beyond
the control of the Company) or other assumptions that may cause
actual results or performance to be materially different from those
expressed or implied by such forward-looking statements. ChinaNet
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required under
applicable securities laws.
Investor Relations Contact
ICR, Inc.Xinran RaoTel: +1-646-308-1635Email:
CNET@icrinc.com
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