BEIJING, June 18, 2021 /PRNewswire/ -- Ucommune
International Ltd. (NASDAQ: UK) ("Ucommune" or the "Company"), a
leading agile office space manager and provider in China, today announced that its Nanjing Nuofen
Magic Cube asset-light project (the "Project") achieved a 97.39%
occupancy rate as of May 31, 2021,
improving significantly from the Project's inception on
November 26, 2020. The Project has
approximately 4,252 square meters of office space and 690 seats and
is located in Nanjing's Xinjiekou
area, the city's geographic, commercial, and cultural center. This
strong performance further demonstrates Ucommune's ability to
successfully partner with landlords and help them to rapidly
increase their occupancy rates via its asset-light model.
Since initially launching in 2015, Ucommune has become a
valuable partner to property owners, businesses, and business
communities worldwide. By leveraging its potent brand influence and
platform resources, Ucommune provides landlords with a full range
of agile office space management services, covering interior
decoration and design, investment promotion, intelligent systems,
community activities, value-added services for enterprises, and
more. Meanwhile, Ucommune integrates its resources in such areas as
government, academia, and entrepreneurship to provide its partners
with effective marketing channels and domestic policy guidance.
These advantages have allowed Ucommune to foster increasingly
prosperous business environments across the globe and empower its
partners to further cultivate their competitive advantages.
By utilizing its potent brand influence and operational
expertise, Ucommune increased Nuofen Magic Cube's occupancy rate to
near full capacity in just 6 months. Moreover, as part of the
Project, Ucommune improved the standardization of its processes for
workspace construction, property adaptation, and occupancy rate
growth. Prior to partnering with Ucommune, Nuofen Magic Cube lacked
a primary landlord, which created a management vacuum throughout
its operations and limited the property's occupancy rate to less
than 50%. After beginning to cooperate with Ucommune in
November 2020, Nuofen Magic Cube had
achieved an occupancy rate of 65% by the end of the year. After
just 6 months of the cooperation, Nuofen Magic Cube had already
benefited significantly from Ucommune's high brand recognition and
efficient space management, attracting an Internet company giant to
move into the property and achieving an occupancy rate of
97.39%.
The manager of Nanjing Nuofen Magic Cube commented, "We chose to
cooperate with Ucommune based on the Company's significant brand
recognition, investment promotion, and operational capabilities. As
a result of Ucommune's robust agile space management services, we
have successfully enhanced our overall flexibility and optimized
our total occupancy rate. Ucommune's expertise in real estate and
retail has also served as a significant advantage, enabling us to
modernize our office spaces and attract more high-quality tenants
in turn."
Dr. Daqing Mao, Founder of
Ucommune, commented, "By reducing costs, upgrading facilities, and
streamlining building management services, we have created a very
attractive value proposition for landlords. Meanwhile, our
asset-light model has proven to be highly scalable and capital
efficient. Looking ahead, we plan to continue refining and
standardizing our agile space services. This will allow us to help
more landlords optimize their property space management systems,
increase their occupancy rates, and enhance their
profitability."
About Ucommune International Ltd.
Ucommune is China's leading
agile office space manager and provider. Founded in 2015, Ucommune
has created a large-scale intelligent agile office ecosystem
covering economically vibrant regions throughout China to empower its members with flexible and
cost-efficient office space solutions. Ucommune's various offline
agile office space services include self-operated models, such as U
Space, U Studio, and U Design, as well as asset-light models, such
as U Brand and U Partner. By utilizing its expertise in the real
estate and retail industries, Ucommune operates its agile office
spaces with high efficiency and engages in the urban transformation
of older and under-utilized buildings to redefine commercial real
estate in China.
Safe Harbor Statements
This announcement contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended. 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 "will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "potential," "continue," "ongoing,"
"targets," "guidance" and similar statements. The Company may also
make written or oral forward-looking statements in its periodic
reports to the U.S. Securities and Exchange Commission (the "SEC"),
in its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Any statements that are
not historical facts, including statements about the Company'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: the
Company's growth strategies; its future business development,
results of operations and financial condition; its ability to
understand members' needs and provide products and services to
attract and retain members; its ability to maintain and enhance the
recognition and reputation of its brand; its ability to maintain
and improve quality control policies and measures; its ability to
establish and maintain relationships with members and business
partners; trends and competition in China's agile office space market; changes in
its revenues and certain cost or expense items; the expected growth
of China's agile office space
market; PRC governmental policies and regulations relating to the
Company's business and industry, and general economic and business
conditions in China and globally
and assumptions underlying or related to any of the foregoing.
Further information regarding these and other risks, uncertainties
or factors is included in the Company's filings with the SEC. All
information provided in this press release and in the attachments
is as of the date of this press release, and the Company undertakes
no obligation to update any forward-looking statement, except as
required under applicable law.
For investor and media inquiries, please
contact:
Ucommune International Ltd.
ir@ucommune.com
ICR, LLC.
Robin Yang
ucommune@icrinc.com
+1 (212) 537-3847
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SOURCE Ucommune International Ltd.