BEIJING, Nov. 15, 2017 /PRNewswire/ -- Gridsum Holding
Inc. ("Gridsum" or the "Company") (NASDAQ: GSUM), a leading
provider of cloud-based big-data analytics and artificial
intelligence ("AI") solutions in China, today announced that
it has signed a strategic cooperation agreement with Tencent Cloud and Shandong Guohui Investment Co.
Ltd., ("Guohui"), a company owned by the Shandong Province
State-owned Assets Supervision and Administration Commission to
jointly develop an industrial internet of things cloud platform
("IIoT Cloud Platform") in Shandong
Province.
According to the strategic cooperation agreement, Gridsum,
Tencent and Guohui will leverage each
of their competitive strengths to jointly develop the IIoT Cloud
Platform and support the emergence of a smart industrial
manufacturing cluster in Shandong
Province. It is anticipated that the IIoT Cloud Platform
will revolutionize the manufacturing ecosystem in Shandong Province by leveraging "Industry 4.0"
methodologies to greatly improve the efficiency and acquisition of
vast quantities of information which will be analyzed and processed
at very fast speeds. The IIoT Cloud Platform will greatly improve
manufacturers' ability to interconnect, increase efficiency, reduce
production times and costs and build their businesses out to scale.
The centerpiece of the IIoT Cloud Platform will be an industrial
cloud and big data R&D center in Jinan, the capital of Shandong Province. Once completed, the
industrial R&D center is expected to be amongst China's largest.
Mr. Guosheng Qi, Chief Executive
Officer of Gridsum, commented, "I am extremely excited to be
part of Shandong Province's
efforts to transition towards smart manufacturing. In August, Mr.
Xijian Liu joined us as our chief strategy officer. He also heads
our newly established IIoT division. Mr. Liu's more than
three decades of IT and strategic management experience at one of
the largest state-owned petrol chemical enterprises in China laid a solid foundation for our rapid
development in the IIOT space. Our core competency and competitive
advantage is our ability to process massive amounts of data,
leveraging advanced analytics and AI, to help organizations make
better decisions and substantially drive their KPIs. This is a
great example of how our cloud-based big data analytics and AI
capabilities can rapidly expand a business' horizons and
revolutionize manufacturing. I believe this agreement endorses the
high-quality and reputation of our technology and our ability to
work in close cooperation with Tencent to really build something transformative.
This agreement also paves the way for further expanding our
strategic partnership with Tencent as
we develop new ways to leverage each other's strengths. This
development also highlights the transformative nature of IIoT as
defining a substantial strategic opportunity for Gridsum."
About Gridsum
Gridsum Holding Inc. (NASDAQ: GSUM), is a leading
provider of cloud-based big-data analytics and AI solutions for
multinational and domestic enterprises and government agencies
in China. Gridsum's core technology, the Gridsum Big
Data Platform, is built on a distributed computing framework and
performs real-time multi-dimensional correlation analysis of both
structured and unstructured data. This enables Gridsum's
customers to identify complex relationships within their data and
gain new insights that help them make better business decisions.
The Company is named "Gridsum" to symbolize the combination of
distributed computing (Grid) and analytics (sum). As a digital
intelligence pioneer, the Company's mission is to help enterprises
and government organizations in China use data in new and
powerful ways to make better informed decisions and be more
productive.
Safe Harbor Statement
This announcement contains forward-looking statements. These
forward-looking statements are made under the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These statements can be identified by terminology such as
"may," "will," "expects," "anticipates," "aims," "future,"
"intends," "plans," "believes," "estimates," "likely to" and
similar statements. Among other things, quotations from management
in this announcement as well as Gridsum's strategic and
operational plans contain forward-looking
statements. Gridsum may also make written or oral
forward-looking statements in its reports filed with, or furnished
to, the U.S. Securities and Exchange Commission, in its annual
reports to shareholders, in press releases and other written
materials and in oral statements made by its officers, directors or
employees to third parties. Statements that are not historical
facts, including statements about Gridsum's beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: unexpected difficulties
in Gridsum's pursuit of its goals and strategies; the
unexpected developments, including slow growth, in the digital
intelligence market; reduced demand for, and market acceptance
of, Gridsum's solutions; difficulties keeping and
strengthening relationships with customers; potentially costly
research and development activities; competitions in the digital
intelligence market; PRC governmental policies relating to media,
software, big data, the internet, internet content providers and
online advertising; and general economic and business conditions in
the regions where Gridsum provides solutions and
services. Further information regarding these and other risks is
included in Gridsum's reports filed with, or furnished
to, the Securities and Exchange Commission. All information
provided in this press release and in the attachments is as of the
date of this press release, and Gridsum undertakes no
duty to update such information except as required under applicable
law.
For more information, please
visit http://www.gridsum.com/.
Investor Relations
Gridsum
ir@gridsum.com
Christensen
In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
Email: carnell@christensenir.com
In U.S.
Mr. Tip Fleming
Phone: +1 917 412 3333
Email: tfleming@christensenir.com
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SOURCE Gridsum Holding Inc.