BEIJING, March 14, 2018 /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 extended its contract with Beijing Gehua CATV Network Co.,
Ltd. (SSE: 600037) ("BGCTV"), and
expanded the scope of service to include its Data Intelligence and
Visualization Solutions.
Gridsum began helping BGCTV analyze user trends, content
preferences, and conversion rates across their various business
lines in November 2016. Gridsum's
contract with BGCTV was recently extended and expanded in scope of
service to include its Data Intelligence and Visualization
Solutions. Gridsum's PC and mobile-friendly Data Intelligence and
Visualization Solutions will allow BGCTV to integrate, understand,
analyze and visualize multiple layers of data from across their
various business lines and networks, both online and offline,
internal and external, mobile and fixed, in order to help them
improve service optimization and product personalization, and
rapidly adapt to a changing market environment for media
content.
Mr. Guosheng Qi, Chief Executive Officer of Gridsum, commented,
"I'm pleased to have signed a contract extension that further
expands our scope of services with BGCTV. Over the past year, we
have deepened our relationship with BGCTV, which now has been
expanded to include our ground-breaking Data Intelligence and
Visualization Solutions, which will help BGCTV to cope with
increasing data volumes generated from both its offline and online
business lines, and turn that data into a business intelligence and
strategy asset. By integrating and analyzing BGCTV's online and
offline data in real time, our Data Intelligence and Visualization
will enable BGCTV to unlock the value of their data and to make
better data-driven decisions. I believe this demonstrates the
effectiveness and quality of our solutions and ability to upsell
our services to deepen our relationship with clients."
About BGCTV
BGCTV was established in September 1999 at the
approval of The People's Government of Beijing City. It
is the only operator who can build, develop, operate, manage and
maintain a cable TV network in Beijing. A New Technology
Enterprise endorsed by the Beijing Municipal Science &
Technology Commission, it operates broadcasting and transmission of
TV programs and provides broadcasting TV network information
services. It was on the third year "Top 30 National Cultural
Enterprises" list announced on May 13, 2011 and the ninth
year list announced on May 11, 2017. Over the years, it
pursued mergers and acquisitions of cable TV operations in regions
and counties near and far, and by February 2002, made the goal
of "one city, one network". Today, with its network
covering 18 regions and counties in the city and serving
over five million households, BGCTV is a super-size cable TV fiber
optic network operator.
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 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.