HANGZHOU, China, April 3, 2018 /PRNewswire/ -- Dragon Victory
International Limited ("LYL" or the "Company"), a company offering
reward-based crowdfunding opportunities and quality incubation
services to entrepreneurs in China, today announced that the Company has
entered into a Strategic Cooperation Agreement (the "Agreement")
with Shanghai Baoshan Industrial Park ("SBIP"), a municipal level
industrial park in Shanghai, China
with a focus on Internet of Things ("IOT") and incubation services
to entities seeking overseas listing on March 28, 2018.
Baoshan Industrial Park encourages investors to set up projects
in accordance with the requirements of famous brands of
manufacturing and tertiary industries, export-orientated and export
processing enterprises, and businesses in modern industry,
logistics and services.
Pursuant to the Agreement, the Company will cooperate with SBIP
to develop an Internet of Things ecosystem in conjunction with the
smart city program that SBIP is developing. The Company expects to
provide IT solutions and services to SBIP and integrate
SBIP-developed programs into the Company's ecosystem, as well as to
provide incubation services to entities seeking overseas listing
including but not limited to, investment and financing, listing
guidance, etc. The Company also intends to establish a wholly owned
foreign-owned enterprise in the Baoshan district of Shanghai, with the support of SBIP, and
expects to work to expand and improve SBIP's foreign investment
promotion program.
Mr. Jianjun Sun, Chairman and
Chief Executive Officer of Dragon Victory International Limited,
commented, "This agreement is positive for the future of Dragon
Victory, and more broadly, crowdsourcing and startup enterprises in
China. Startup companies
affiliated with SBIP will benefit greatly from our financing,
management, and other incubator services, while developed companies
can benefit from LYL's financial advisory services should they
choose to go public overseas. Furthermore, the development of the
"Internet of Things" in SBIP will lead to a more efficient and
productive startup environment, as SBIP transforms into a leading
smart city. This agreement is expected to open an exciting new
chapter for Chinese enterprises as we work with SBIP to create a
leading environment for entrepreneurs."
About Dragon Victory International Limited
Incorporated in 2015 and headquartered in Hangzhou, Dragon Victory International Limited
("LYL" or the "Company") offers reward-based crowdfunding
opportunities in China to
entrepreneurs and funding sources through a fast-growing
reward-based crowdfunding platform at www.5etou.cn. 5etou is
designed to enable small- and medium-sized companies, start-ups and
idea generators to raise funding from participants through the
Internet. The Company also provides quality business incubation
services and financial services to entrepreneurs and business
entities with funding needs who utilize our crowdfunding platform.
More information is available at www.dvintinc.com.
About Shanghai Baoshan Industrial Park
Shanghai Baoshan Industrial Park is a municipal level industrial
park established on February 21,
2003, with the approval of Shanghai municipal government. The industrial
park is located in the northeast of Shanghai and will cover an area of 23 square
kilometers when fully developed. With new industrialization driving
urbanization as its development concept and building a
comprehensive industrial zone deriving from Shanghai's fine steel industry as its
development theme, Baoshan Industrial Park not only enjoys
preferential policies for fine steel bases and new township
building, but also boasts a professional consulting team that
provide full life-cycle services to companies. Furthermore, it is
also considered as a manufacturing and logistics hub that connects
seaways, railways and waterways. With highly efficient planning,
investment, construction and services, Baoshan Industrial Park
strives to be a platform for companies' sustainable growth. More
information is available at
www.shanghai.gov.cn/shanghai/node27118/node27873/node27997/n31510/n31512/u22ai73228.html
Forward-Looking Statements
This press release contains information about the Company's
view of its future expectations, plans and prospects that
constitute forward-looking statements. Actual results may
differ materially from historical results or those indicated by
these forward-looking statements as a result of a variety of
factors including, but not limited to, risks and uncertainties
associated with its ability to raise additional funding, its
ability to maintain and grow its business, variability of operating
results, its ability to maintain and enhance its brand, its
development and introduction of new products and services, the
successful integration of acquired companies, technologies and
assets into its portfolio of products and services, marketing and
other business development initiatives, competition in the
industry, general government regulation, economic conditions,
dependence on key personnel, the ability to attract, hire and
retain personnel who possess the technical skills and experience
necessary to meet the requirements of its clients, and its ability
to protect its intellectual property. The Company encourages
you to review other factors that may affect its future results in
the Company's registration statement and in its other filings with
the Securities and Exchange Commission.
For more information, please contact:
Company Contact:
Bo Lyu, the Board Secretary
Dragon Victory International Limited
Email: lb@dvintinc.com
Phone: +86-15157527297
Investor Contact:
Tina Xiao, President
Ascent Investor Relations LLC
Email: tina.xiao@ascent-ir.com
Phone: +1-917-609-0333
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SOURCE Dragon Victory International Limited