BEIJING, July 2, 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 managed service project at Shenyang
Tongfang Building under the asset-light model (the "Project")
achieved a 98.22% occupancy rate as of June 30, 2021, in less
than nine months since its inception. The Project is located in
Shenyang, the largest city in
Northeast China, and has
approximately 1,940 square meters and 394 seats. This strong
performance once again demonstrates the Company's ability to help
landlords better utilize their property resources and increase
their occupancy rates through its asset-light model.
The Company's asset-light model allows both parties to leverage
their unique competitive advantages and share in the resulting
economic benefits. Through this model, the Company's landlord
partners rely on the Company to operate their spaces while gaining
access to the Company's digital management systems, marketing
capabilities, and corporate service resources. As a result,
landlords are able to generate more revenues through improved
property utilization as well as reduce their labor and time costs
for attracting new enterprises to move into their office spaces.
Meanwhile, moved-in enterprises also benefit significantly from
this type of cooperation as the synergies between the Company and
its landlord partners enable them to achieve more robust
development over the long term.
Ucommune brings substantial advantages to its landlord partners,
their moved-in enterprises, and the local economies in which it
operates. Through its efforts, Ucommune develops shared workspaces
and entrepreneurial incubators dedicated to the growth of
innovative companies. Ucommune is committed to becoming a pillar in
each of the business communities that it serves, working in line
with the government's policies to promote commercial dynamism, and
supporting the growth of local companies to cultivate business
ecosystems that are both innovative and entrepreneurial.
After conducting careful analysis, Ucommune decided to establish
this partnership based on the Project's substantial growth
potential. Located in a well-known area of Shenyang, the Project benefits from being in
an IT-focused industrial park and close to high-tech incubation
centers and academic institutes. The combination of this favorable
environment and the Company's highly intelligent agile office space
services has allowed the Project to develop at a rapid pace as well
as advance Shenyang's economy and
intelligent technology capabilities. As such, the Project's
occupancy rate increased to 98.22% from zero in just five months
since its establishment in October
2020, helping the Company's partners to generate
significantly higher revenues in turn.
Ms. Li, the manager of Tongfang building, commented: "Ucommune's
potent brand influence, marketing expertise, and operational
capabilities have enabled us to refine our management systems and
optimize our occupancy rate. By leveraging Ucommune's established
project management skillset, rapid response time, and proactive
engagement, we can now solve the daily problems of startups more
efficiently than ever before. Shenyang Tsinghua Tongfang Co., Ltd.
is also highly appreciative of the marketing and operational
improvements brought about by this cooperation."
Dr. Daqing Mao, Founder of
Ucommune, added, "By providing our partners with higher quality and
more comprehensive space management services, we reduce their
marketing expenses, improve their efficiency, and enhance their
occupancy rates. This has enabled us to continue attracting more
partners. For example, we recently began working with a
domestically listed Internet food company and a domestic online
education unicorn through our asset-light model to help them
generate more revenue and upgrade their service offerings. Such
successes further showcase the potency of our agile office space
services and their increasingly compelling value proposition for
urban business ecosystem participants."
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 Group Holdings Limited