ZW Data Action Technologies Partner with VCan Fintech for Cross-Border E-Commerce Solutions
July 07 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 has signed a strategic cooperation agreement with
VCan Fintech, a Hong Kong-based financial technology company for
global payment solutions (“VCan”).
ZW Data has steadily built its Internet business
ecosystem in the last 18 years. It has accumulated marketing and
transaction data for nearly 100 million users for precision digital
marketing. VCan provides global financing and payment solutions for
cross-border e-commerce merchants. The two companies will start
in-depth cooperation in three major aspects of business, operation,
and technology. In business aspect, we will build data interfaces
with VCan and integrate advertising and marketing business. In
operation aspect, through VCan’s regulatory licenses in Hong Kong,
the United States, the United Kingdom and other regions and
countries, we expect to launch an integrated cross-border payment
service platform to connect overseas banks, visa, UnionPay,
international prepaid cards, Paypal and other financial service
systems. In technology aspect, we expect to build a B2B
cross-border payment platform backed by blockchain technology, and
provide merchants with blockchain technology support, cross-border
payment data analysis, solution consulting, industrial capital
solutions, and multi-dimensional industrial interaction
services.
The strategic cooperation was launched when
China’s exports bounced back in the first quarter of 2021 and
reached RMB 4.6 trillion with year-over-year increase of 38.7%,
according to General Administration of Customs of the People’s
Republic of China. Cross-border e-commerce in the first quarter
increased by 69.3% based on the data from iiMedia. It is expected
that in 2021 cross-border e-commerce transactions alone will reach
RMB 12.7 trillion. “Under such a favorable background, we will
seize the momentum with VCan and build an integrated cross-border
e-commerce global payment and financing systems. We aim to assist
e-commerce companies to build on-chain data and provide a
blockchain-enabled and interconnected system for supply chain,
product information, and payment information.” 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/.
About VCan Fintech
Founded in 2016, Vcan Fintech is headquartered
in Hong Kong, with branches in the United States, the United
Kingdom, and Singapore. It is a global financial technology company
dedicated to creating a fair, transparent and mutual assistance
financial platform for cross-border payment solutions. Its
financial services include securities trading, asset management and
financing loans, and offers products such as V-account, V-lend, and
V-power. VCan is licensed to provide financial services, and has a
license from the U.S. Financial Crime Enforcement Agency, and a
license from the British Financial Industry Regulatory Authority.
It currently has over 300 partners worldwide and supports services
in more than 200 currencies.
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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