ZW Data Action Technologies Inc. Announces Strategic Cooperation with Nanyue Health
August 10 2022 - 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 letter of intent with Nanyue
Health, a digital medicine and health platform owned by Guangdong
Nanyue Pharmaceutical Co, Ltd., (“Nanyue”), pursuant to which the
parties shall form a strategic partnership to jointly conduct
marketing, share resources, jointly operate traffic and cooperate
on other aspects of the Smart Medicine Cabinet Machine and Chan Li
Chai Health Project (the “Project”).
Established in Macau in 1981, Nanyue is a leading
enterprise of Guangdong Province in Macau and was state-controlled
by the State-owned Assets Supervision and Administration Commission
of Guangdong Provincial People's Government and Guangdong Province
Property State-owned Holdings in 2009. Nanyue Health is an
ecological platform project jointly initiated by Guangdong Nanyue
Pharmaceutical, a subsidiary of Nanyue, which is dedicated to
building a new generation of digital ecological platform for
chronic disease health management and providing services and values
for the public in preventive care, health education, health
management and health interventions. Founded in 1600 AD, Chan Li
Chai is a well-known time-honored brand in the national Chinese
medicine industry with a long-standing brand reputation. More
information please get in the website:
http://www.nanyue6688.com/.
Pursuant to the letter of intent, the cooperation
with Nanyue Health will be performed in two phases. ZW Data will
provide the services which include market expansion and on-off line
self-service machine smart service and Blockchain Technology in two
phases. The Phase One includes business cooperation, sales of the
smart medicine cabinet machines, and establishment of the operation
team of Chan Li Chai Health Project for the offline market
expansion. In addition, the online brand promotion plan will be
conducted via multiple business activities to promote Nanyue
Health’s brand image. For Phase Two, the two parties will have
technology cooperation on the platform of “Online Mall Service +
Offline Smart Health Service Station + Blockchain Technology”,
including private domain traffic diversion, the establishment of
operation and marketing service team, and expansion of private
domain traffic service.
According to iimedia.cn, since 2015, the chain
pharmacies rate of Chinese pharmacies has been growing every year,
reaching 50.44% in 2017, and the rate has continued to grow to
57.1% in 2021 Q3. Since the outbreak of the pandemic, a new trend
of "contactless services" has emerged in many industries to reduce
the probability of mutual infection among people, and unmanned
pharmacies and vending machines are typical representatives of this
new trend. We believe that the State Food and Drug Administration
and the Medical Insurance Bureau in China supports the development
of smart pharmacies related markets, promoting the integrated
development of pharmaceutical distribution enterprises and
e-commerce platforms, and the development of smart supply chains,
smart logistics, and smart pharmacies. Additionally, according to
the "2022 China's big health insurance industry development white
paper", the revenue scale of China's big health industry in 2020
reached more than 9 trillion RMB.
“We are very excited about this cooperation, as
the medical and health markets in China are full of potential in
the future. This cooperation between the Company and Nanyue Health
in the huge potential markets will help expand the Company’s
franchise business. Meanwhile, the big data technology and powerful
channel resources of the Company will be a booster for this
cooperation, promoting the innovative development of both parties
in the field of big health. Going forward, the Company will
continue to seek cooperation opportunities with leading enterprises
in the field of big health to bring great returns to our
shareholders in the future,” 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/.
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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