LETHAM, Scotland, July 8, 2024 /PRNewswire/ -- MDJM LTD (Nasdaq:
MDJH) (the "Company" or "MDJM"), an integrated global
culture-driven asset management company, today announced that its
wholly owned subsidiary, Mansions Catering and Hotel LTD
("Mansions"), a United
Kingdom company, wholly owned by our wholly owned
subsidiary, MD Local Global Limited, a United Kingdom company, has entered into a
strategic cooperation agreement with Chongqing Tu Bi Business
Management Co., Ltd. ("Chongqing Tu Bi"), an incubator of cultural
and creative projects and brands based in China. This partnership marks a milestone in
MDJM's ongoing strategy to integrate cultural arts into its
portfolio and expand its cultural business initiatives.
Under the agreement, Mansions and Chongqing Tu Bi will leverage
their mutual interests and resources in the arts to enhance
artistic communication, develop cultural and creative products, and
engage in capital operations to boost both parties' business
development. The collaboration will involve the regular
organization of artistic activities with the exchange of artworks
and artistic ideas, including workshops, lectures, art exhibitions,
and artist-in-residence programs, with an aim to foster interaction
between artists and to enhance cultural exchanges.
A major initiative under this partnership is the joint
development of cultural products tailored for international
markets, particularly focusing on the UK and Europe. The parties will combine efforts to
blend traditional Chinese elements with contemporary design,
promoting cultural heritage and modern artistic innovation.
Furthermore, the collaboration will transform a villa at the
historic Victorian Robin Hill Hotel, owned by MDJM and located in
England's southern harbor area,
into the "Eling TESTBED2 Overseas Art Center." This center will act
as a dynamic platform to exhibit and promote the artistic creations
and cultural products resulting from this partnership.
Additionally, during the overall renovation and upgrading of
Fernie Castle, the two parties will
collaborate on operations to ensure that it serves as a crucial
showcase for the collaborative results between the two parties.
Eling TESTBED2, initiated by Chongqing Tu Bi and located in
Chongqing's Yuzhong District, is a
cultural and creative park that has transformed a historical
industrial site into a vibrant hub for cultural and creative
activities, attracting both local and international visitors.
Hosting nearly 70 diverse businesses and brands, it has made
significant contributions to the local and national cultural
tourism industries with its innovative approach to urban renewal.
Recognized by the Ministry of Culture and Tourism, TESTBED2 was
designated as one of the first batch of National Night Culture and
Tourism Consumption Concentration Areas in 2019, a National
Industrial Tourism Demonstration Base in 2022, and a National
Tourist Leisure District in 2023. It has also received numerous
awards, including the Old City Revival Award among China's Top Ten Urban Renewal Cases of 2018,
the Towards Light Award in the 2019 China Business Towards Goodness
Awards, and the Culture and Tourism Project with the Best Brand
Value in China in 2019. Further
accolades include the 2019 China Commercial Real Estate Urban
Renewal Demonstration Project, the 2019 Outstanding Industrial Park
Transformation Case in Chinese Urban Renewal, the Chengdu-Chongqing
Trendy New Landmark of 2020, and the 2020 China Urban Renewal Map
Innovation Storm Award, along with being named a Chongqing Cultural
Industry Demonstration Park and a Chongqing Research Travel
Demonstration Base. These distinctions underscore TESTBED2's
crucial role in fostering the coordinated development of commerce,
tourism, urban renewal, and cultural tourism in Chongqing.
The partnership also extends to digital initiatives, where
both MDJM and Chongqing Tu Bi will explore and promote the
digitization of art assets, including digital archiving and the
distribution of NFTs, to access new markets and audiences. The
collaboration will support the operation of digital art platforms
to facilitate the trading and showcasing of digital artwork, in an
effort to enhance their market value and international reach.
"Our collaboration with Chongqing Tu Bi at the Robin Hill Hotel
epitomizes our dedication to fostering cultural development and
enhancing global communication. By integrating more culturally and
creatively oriented projects into our business, we aim to
strengthen MDJM's market position while bringing significant social
and economic benefits to the communities involved. We are excited
about the potential of this partnership to create unique
experiences for our guests and deliver substantial value to our
shareholders," said Mr. Siping Xu,
Chairman and Chief Executive Officer of MDJM.
About MDJM LTD
MDJM focuses on international expansion for the development of
real estate-related hospitality, butler services, and more. For
more information regarding the Company, please visit
http://ir.mdjmjh.com.
About Chongqing Tu Bi Business Management Co., Ltd.
Chongqing Tu Bi specializes in
the incubation of cultural and creative projects, notably its
project TESTBED2 Cultural and Creative Park in Eling, Chongqing. This park is a leading example of
urban renewal, combining local culture, innovative commerce,
immersive tourism, and community revitalization, attracting both
domestic and international visitors.
Forward-Looking Statements
This announcement contains forward-looking statements. All
statements other than statements of historical fact in this
announcement are forward-looking statements. These forward-looking
statements involve known and unknown risks and uncertainties and
are based on current expectations and projections about future
events and financial trends that the Company believes may affect
its financial condition, results of operations, business strategy,
and financial needs. Investors can identify these forward-looking
statements by words or phrases such as "may," "will," "expect,"
"anticipate," "aim," "estimate," "intend," "plan," "believe,"
"potential," "continue," "is/are likely to" or other similar
expressions. The Company undertakes no obligation to update
forward-looking statements to reflect subsequent occurring events
or circumstances, or changes in its expectations, except as may be
required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to review other factors that may affect its
future results in the Company's annual report on Form 20-F and its
other filings with the U.S. Securities and Exchange
Commission.
Investor Contact:
Sherry Zheng
Weitian Group LLC
Email: shunyu.zheng@weitian-ir.com
Phone: +1 718-213-7386
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SOURCE MDJM LTD