ZW Data Action Technologies Inc. Announces the Blockchain Payment Cooperation with its Blockchain Integrated Framework Automation Platform Services
October 20 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 the cooperation with Guangzhou Gongxiang Technology Co.,
Ltd. (“Gongxiang Technology”), an innovative facial payment service
provider with over 600 thousands of merchant adoptions in 300
cities in China.
Under the cooperation arrangements, ZW Data will
provide one-stop blockchain network and application services
through the Blockchain Integrated Framework automation platform
(“BIF Platform”) recently launched by the Company to Gongxiang
Technology and integrated with its existing payment service for the
future of central bank digital currency or crypto payment need in
accordance to forthcoming rules and regulations.
The cooperation allows Weilay Life, a cash-back and
shopping rewards platform owned by Gongxiang Technology, to apply
the digital transformations and adopt solutions of Non-Fungible
Token (“NFT”) and Decentralized Finance (“DeFi”) with service
solutions provided by BIF Platform. The cooperation will include
the setup fees and future per transaction fee of 1 to 3%.
“We are excited to announce our cooperation with
Gongxiang Technology as this cooperation is another remarkable
progress we have made since the launch of our BIF Platform. We are
confident that the potential expansion to many other cooperative
merchants of Gongxiang Technology will accelerate the market
presence of BIF Platform providing more case scenarios. Going
forward, we expect to continue to actively seek business
opportunities for our BIF Platform with more and more small and
medium enterprises,” 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 the general public,
enterprise clients, and government agencies. More information about
the Company can be found at: http://www.zdat.com/.
About Guangzhou Gongxiang Technology
Co., Ltd.
Founded in 2014, Gongxiang Technology is a
leading Internet company providing Internet of Things (IOT),
artificial intelligence (AI) product development, big data analysis
and digital marketing solutions. It is committed to building a new
business ecosystem of more efficient and trusted B-end and C-end
through digital contract technology and facilitating the digital
transformation and upgrade of industry. Gongxiang Technology has a
good cooperative relationship with many well-known universities and
research institutes both domestically and internationally, and its
team equip with cutting-edge core technology research and
development capabilities in the field of artificial intelligence in
China. To contribute to the development of new retail, shared
business, smart operation, and converged payment, Gongxiang
technology strives to build a first-class brand of intelligent
technology service platform, providing customers with full-stack
and integrated solutions including algorithms, software and
hardware products. More information can be found at
http://www.gzgxkj.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 Inc.’s 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 Inc. will be those
anticipated by ZW Data Action Technologies Inc. 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
Inc. 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
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