QINGDAO, China, March 29, 2021 /PRNewswire/ -- SOS Limited
(NYSE: SOS) (the "Company" or "SOS") announced today that
its wholly-owned subsidiary SOS Information Technology Co., Ltd.
has entered into a joint venture agreement with Qingdao Ronghe
Finance Holding Group Co., Ltd. ("Ronghe Finance") to form a
new joint venture, SOS Ronghe Digital Technology Co., Ltd. ("SOS
Ronghe"). SOS Ronghe Digital Technology Co., Ltd received its
business license on March 27,
2021
Ronghe Finance is an affiliate of Qingdao West Coast New Area
Ronghe Holding Group Co., Ltd, a large state-owned enterprise in
Qingdao Shandong Province, China.
Pursuant to the joint venture agreement, both parties are to
contribute their resources to establish a supercomputing center in
Qingdao. The registered capital of the joint venture will be
approximately $9,174,000, of which
the Company will contribute 51% and Ronghe will contribute 49%. SOS has the right to appoint two of
the three directors, the CEO and
the CFO of the joint venture.
The mission of the joint venture is to establish the first
large-scale Supercomputing Center in Qingdao and become a leading data and
supercomputing and R&D base in China. SOS-Ronghe is expected be primarily
focused on the following fields: cloud computing, high performance
computing, big data, blockchain-based asset and cryptocurrency
activities.
Yandai Wang, CEO of SOS Limited commented, "we believe our joint
venture with Ronghe is a key infrastructure investment focused on
blockchain and big data, which will be a growth engine for both SOS
and Ronghe."
About Ronghe Holding
Qingdao West Coast New Area Ronghe Holding Group Co., Ltd.
is a state-owned holding company in Qingdao West Coast New Area,
with an AAA corporate credit rating according to China Lianhe
Credit Rating Co. Ltd. It plays a key role in the industrial
investment, capital operation and equity management in promoting
urban development, civil-military integration, science and
technology development, venture capital, medical and health care,
major transportation facilities, comprehensive land development,
island protection and utilization, and functional zone construction
and park operations in the Qingdao West Coast New Area. For more
information, please visit: http://rongkong.net.cn/
About SOS Limited
SOS, is an emerging blockchain-based and big data-driven
marketing and solution provider, with a nationwide membership base
of approximately 20 million in China. Recently, SOS started to get ready to
roll out its cryptocurrency mining business and plans to develop
insurance and security management solutions for digital assets and
cryptocurrencies. The core infrastructure of SOS' marketing data,
technology and solutions to insurance and emergency rescue services
is built on big date, blockchain-based technology, cloud computing,
AI, satellite, and 5G network, etc. SOS Limited, through its
operating subsidiary, SOS Information Technology Co., Ltd. is a
high-technology company providing a wide range of services to its
corporate and individual members, including marketing data,
technology and solutions for emergency rescue services. SOS
transforms digital technology into data-driven operations through
the research and development of big data, cloud computing, Internet
of Things, blockchain and artificial intelligence. We have created
a SOS cloud emergency rescue service software as a service (SaaS)
platform with three major product categories, including basic cloud
(medical rescue card, car rescue card, financial rescue card,
mutual assistance rescue card), cooperative cloud (information
rescue center, intelligent big data, intelligent software and
hardware), and information cloud (News Today, E-Commerce Today).
This system provide marketing-related data, technology solutions,
and technology-driven big data to clients such as insurance
companies, financial institutions, medical institutions, healthcare
providers, auto manufacturers, security providers, senior living
assistance providers and other service providers in the emergency
rescue services industry. For more information, please visit:
http://www.sosyun.com/
Forward-Looking Statements
Certain statements in this press release may constitute
"forward-looking statements" within the meaning of the federal
securities laws, including, but not limited to, our expectations
for future financial performance, business strategies or
expectations for our business. These statements constitute
projections, forecasts and forward-looking statements, and are not
guarantees of performance. SOS cautions that forward-looking
statements are subject to numerous assumptions, risks and
uncertainties, which change over time. Words such as "may," "can,"
"should," "will," "estimate," "plan," "project," "forecast,"
"intend," "expect," "anticipate," "believe," "seek," "target,"
"look" or similar expressions may identify forward-looking
statements. There is no assurance that the supercomputing center
will be established as planned, when it will start operation nor
any of the planned activities will be implemented by the
supercomputing center.Specifically, forward-looking statements may
include statements relating to the Company's:
- ability to execute its business plan;
- changes in the market for SOS' products and services; and
- expansion plans and opportunities.
These forward-looking statements are based on information
available as of the date of this press release and our management's
current expectations, forecasts and assumptions, and involve a
number of judgments, risks and uncertainties that may cause actual
results or performance to be materially different from those
expressed or implied by these forward-looking statements. These
risks and uncertainties include, but not are limited to, the risk
factors described by SOS in its filings with the Securities and
Exchange Commission ("SEC"). These risk factors and those
identified elsewhere in this press release, among others, could
cause actual results to differ materially from historical
performance.
Accordingly, forward-looking statements should not be relied
upon as representing our views as of any subsequent date, and you
should not place undue reliance on these forward-looking statements
in deciding whether to invest in our securities. We do not
undertake any obligation to update forward-looking statements to
reflect events or circumstances after the date they were made,
whether as a result of new information, future events or otherwise,
except as may be required under applicable securities laws.
Additional information concerning these and other factors that
may impact our expectations and projections can be found in our
periodic filings with the SEC, including our Annual Report on Form
20-F for the fiscal year ended December 31,
2019. SOS's SEC filings are available publicly on the SEC's
website at www.sec.gov. SOS disclaims any obligation to update
the forward-looking statements, whether as a result of new
information, future events or otherwise.
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SOURCE SOS Limited