BEIJING, July 30, 2021 /PRNewswire/ -- Ucommune
International Ltd. (NASDAQ: UK) ("Ucommune" or the "Company"), a
leading agile office space manager and provider in China, today announced that it has signed a
cooperation agreement with Beijing Investment Group Co., LTD
("Beijing Investment Group"), a wholly state-owned land developer
affiliated to Beijing government,
to develop an asset-light project (the "Project") at the Beijing
Asia Financial Center, an upscale and well-known office building in
the Chaoyang District of Beijing.
The Company will utilize its operational custody model to manage
the Project's operations, which is in line with the Company's
asset-light business strategy. Through this model, the Company's
landlord partners rely on the Company to operate their spaces while
also benefitting from the Company's digital management systems,
marketing channels, and corporate service resources. This type of
cooperation is beneficial for the Company's landlord partners, who
are consequently able to better utilize their idle land assets to
generate additional revenues as well as reduce their labor and time
costs for attracting new enterprises to move into their office
spaces. The Company's landlord partners can use their shared rental
income to book offices, meeting rooms, and events in Ucommune's
other spaces around the globe. Moved-in enterprises also benefit
significantly from this type of cooperation as it allows them to
take full advantage of the synergistic value proposition provided
by the Company and its landlord partners to achieve better
long-term development. As such, the cooperation between the Company
and Beijing Investment Group is a win-win strategy for both parties
and will enable them to better utilize their unique competitive
advantages while sharing in the economic benefits.
The Project has an area of 6,141.98 square meters and 576
workstations and is one of Ucommune's flagship projects in
Beijing. The Asia Financial
Center, where the Project is located, is an office building of
superior quality, located next to many of Beijing's most famous modern-day attractions,
including the National Stadium, the National Aquatics Center, and
the Olympic Forest Park, which is a national 5A-level scenic spot.
Beijing Investment Group currently operates the Asia Financial
Center and previously invested in the design and construction of
the center. As part of the Project, the Company plans to cultivate
a uniquely eco-friendly office environment by incorporating plants,
natural lighting, eco-friendly building materials, and quality
equipment, such as intelligent electric shading systems and active
ventilation systems, into its design and renovation of the
space.
General Manager of Asia Financial Center commented, "We plan to
fully utilize Ucommune's professional marketing team, brand
awareness, and operational capabilities through this cooperation.
Such advantages alongside the Asia Financial Center's established
high-end market positioning will enable us to increase our office
space occupancy rate at a faster pace. As a focal point of
commercial activity, the Asia Financial Center is well-positioned
to benefit significantly from the ongoing growth in modern
workspace solutions going forward."
Dr. Daqing Mao, Founder of
Ucommune, added, "The Project is one of our flagship projects in
Beijing and represents the
increasing recognition of our professional operational capabilities
from landlords with upscale market positioning. By combining our
one-stop corporate service system with the Asia Financial Center's
high-end facility offerings, we aim to provide enterprises with
higher quality and more comprehensive business services. Our
ability to help Beijing Investment Group generate extra income and
upgrade its service offerings continues to showcase the
increasingly compelling value proposition of our asset-light
business model."
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.