ZW Data Action Technologies Officially Opens Its First Live Streaming Platform
December 09 2020 - 6:30AM
ZW Data Action Technologies, Inc. (Nasdaq: CNET) ("ZW Data" or the
"Company"), an integrated online advertising, precision marketing,
data analytics, and other value-added services company, today
announced the official opening of its first live streaming platform
(the “Platform”) in Guangzhou, China.
The Company selected Guangzhou, the hub of the
economically vibrant Guangdong-Hong Kong-Macao Greater Bay Area,
for the location of the Platform. The Platform boasts a
5,000-square-meter office that provides a powerful livestreaming
channel. It features livestreaming ecommerce, ecommerce support
service, influencer stream shopping, private traffic boosting,
supply chain service, and supply chain finance. On its opening day,
the Platform proudly welcomed its first tenant, Live Streaming
Professionals Committee of China Association of National
Advertisers.
Live streaming ecommerce has exploded in China in
the past few years. iMedia Research’s data indicated that the
industry is projected to reach roughly $1.5 trillion in 2020, and
$2.2 trillion by 2021. Following the accelerating trend, the
Company expects its live streaming business to bring in $50 million
revenue in 2021 and keep a double digit growth. The Company also
plans to develop live streaming business as its core business and
as one of the major profit generators.
This boom also brought challenges such as data
loss, data fabrication, difficulties to detect counterfeit and
shoddy products, and fraud complaint barriers. The Company strives
to address these challenges and provide a reliable and secure
environment for its clients. The Platform is powered by the
Company’s Blockchain Integrated Framework for Retail Business
(“BIF”) as its first application scenario. BIF enables the Platform
to record complete live streaming data, and ensure accurate and
credible data for shopping transactions.
“The Platform is our first step toward creating a
digitized smart ecosystem for small and medium sized retailers. We
believe the Platform will facilitate and streamline information,
material, and financial flows for live streaming ecommerce. We also
expect that the Platform will also develop into a business
incubator to nurture retailers, brands, and Internet influencers.
Our goal is to build an ecosystem that grows with our clients,”
commented Handong Cheng, Chairman and Chief Executive Officer of ZW
Data.
About ZW Data Action Technologies
Inc.
Established in 2003 and headquartered in Beijing,
China, ZW Data Action Technologies Inc. (the “Company”) offers
online advertising, precision marketing, data analytics and other
value-added services for enterprise clients. Leveraging its fully
integrated services platform, proprietary database, and
cutting-edge algorithms, ZW Data Action Technologies delivers
customized, result-driven business solutions for small and
medium-sized enterprise clients in China. The Company also develops
blockchain and artificial intelligence enabled web/mobile
applications and software solutions for general public, enterprise
clients, and government agencies. More information about the
Company can be found at: http://www.zdat.com/.
Safe Harbor Statement
This release contains certain "forward-looking
statements" relating to the business of ZW Data Action
Technologies 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 ZW Data Action
Technologies current expectations and beliefs concerning
future developments and their potential effects on the Company.
There can be no assurance that future developments
affecting ZW Data Action Technologies will be those
anticipated by ZW Data Action Technologies. 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. ZW Data Action
Technologies 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.
For more information, please
contact:
Sherry ZhengWeitian Group LLCEmail:
shunyu.zheng@weitian-ir.comPhone: +1 718-213-7386
ZW Data Action Technolog... (NASDAQ:CNET)
Historical Stock Chart
From Mar 2024 to Apr 2024
ZW Data Action Technolog... (NASDAQ:CNET)
Historical Stock Chart
From Apr 2023 to Apr 2024