ZW Data Action Technologies Entered into Strategic Cooperation Agreement with China Digital Culture for the Introduction of D...
February 08 2021 - 7:30AM
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 that it entered into a strategic sales and cooperation
agreement (the “Agreement”) with China Digital Culture (Group)
Limited, a Hong Kong-based investment holding company principally
engaged in the culture and entertainment related businesses
(HK:08175) (“Digital Culture”). Pursuant to the Agreement, through
the Company’s Blockchain Infrastructure Framework (“BIF”) platform
and by utilizing upgraded decentralized financial technology, the
two parties will jointly operate IP data for e-sports and games.
The Company expects to expand the Company’s existing business of
Key Opinion Leader (“KOL”) and digital advertising through
blockchain service into e-sports and gaming business, one of the
fastest growing sectors in China.
Currently, decentralized finance (“Defi”) is
mainly concentrated in four major sectors of decentralized lending,
automated market makers, decentralized exchanges, and stable
currency issuance. Defi is using the characteristics of blockchain
tokens to gradually tokenize financial services. ZW Data and
Digital Culture strive to introduce Defi, built on both Ethereum
and Polkadot, into esports and game data operation, combining ZW
Data’s KOL and O2O sales channel for additional revenue growth.
ZW Data has collected and accumulated marketing
and transaction data for nearly 100 million users for precision
digital marketing. Digital Culture has built a platform for
entertainment and cultural contents with the top celebrities and
ex-NBA players in Asia, including Jay Chou and Jeremy Lin. It has
formed three main business segments of e-sports entertainment,
sports, and cultural tourism, and its J-team is currently ranked
No.1 in the last season of Pacific Champion Series.
Handong Cheng, Chairman and Chief Executive
Officer of ZW Data, commented, “The Chinese game industry will have
revenue of 278.6 billion yuan in 2020, and its user base will reach
665 million. Such a market space will bring immense opportunities.
We believe that our Company and Digital Culture will use our
respective capital, platform and resource advantages to jointly
expand the development of blockchain, KOL and esports platform into
our focused industries. We will help Digital Culture build an
unbounded and free "game world" by putting e-sports and game data
on the blockchain for record-keeping, digital asset exchange,
advertising and marketing, and trading. We envision to expand
blockchain technology application and e-sports data operation model
into traditional industries, especially cultural and artistic
industries, and eventually promote the development and enhance the
value of traditional industries.”
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/.
About China Digital Culture (Group)
Limited
China Digital Culture (Group) Limited is listed
on the Growth Enterprise Market of the Stock Exchange of Hong Kong
Limited (Hong Kong: 08175). It has built a platform for
entertainment and cultural contents and provides channel and
customer diversification services. After years of development, it
has formed three main business segments of e-sports entertainment,
sports, and cultural tourism. More information about the Company
can be found at: http://www.cdculture.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
Zheng Weitian Group
LLCEmail: shunyu.zheng@weitian-ir.comPhone: +1 718-213-7386
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