HONG KONG, Dec. 19, 2017 /PRNewswire/ -- Cleantech Solutions
International, Inc. ("Cleantech Solutions" or "the Company")
(Nasdaq: CLNT) today announced that its wholly-owned subsidiary,
Sharing Economy Investment Limited ("SEI"), has entered into a sale
and purchase agreement with the shareholders of AnyWorkspace
Limited ("AnyWorkspace"), to acquire 80% ownership of AnyWorkspace
for a consideration amount of USD560,000, which shall be
satisfied by the allotment and issuance of 106,464 unregistered
shares of the Company at a price of $5.26 per share.
"Before AnyWorkspace, users in the Hong Kong and the Asia Pacific would have to individually search
and compare coworking spaces manually—a time-consuming and tedious
process. Now, users can search and compare hot desks, meeting
rooms, seminar rooms, private offices and event spaces, filtered by
location, budget, date and amenities in real-time. Bookings can be
made using a credit card on a secure platform and confirmations are
sent via both SMS and email," said Kheng
Sim, Founder of AnyWorkspace. "AnyWorkspace solves many of
the current challenges faced by space vendors and property owners.
It is the perfect platform to monetize empty offices, spare
cubicles, and underutilized meeting rooms to increase revenue and
offset the fixed costs of space which would otherwise be wasted or
left idle. AnyWorkspace accurately compares the overwhelming number
of options available to mobile workers today. Users are free to
explore spaces and communities both locally and internationally and
property owners and space providers have the opportunity to
re-connect with their clients using modern technologies without
heavy capital investment."
"We are excited about AnyWorkspace's easy-to-use online platform
which enables both corporate and individual clients to look for
suitable places to work," said Parkson Yip, COO of Cleantech
Solutions. "The AnyWorkspace platform connects space providers and
space users in a convenient way and at a low cost. Clients can
efficiently satisfy their space needs by browsing and booking space
on the platform, while space providers can optimize use of their
idle space resources to earn additional profits.
AnyWorkspace's business model is a good fit for the Company's
latest business initiatives, which advocate the benefits brought
about by the global sharing economy. With the inventory of
coworking spaces available in the Asia
Pacific region still well below those of the US and
Europe, we see strong potential in
this business."
Commercial real estate research firm Colliers Insights projects
30% growth in coworking spaces in 2017 as large corporations are
aggressively moving working desks outside of their traditional
corporate business centers. In addition, real estate firm Cushman
& Wakefield in association with CoreNet Global estimates demand
for coworking spaces in Asia will
grow 10% to 15% percent annually.
About Cleantech Solutions International
Cleantech Solutions, through its affiliated companies, designs,
manufactures and distributes a line of proprietary high and low
temperature dyeing and finishing machinery to the textile
industry. The Company's latest business initiatives are
focused on targeting the technology and global sharing economy
markets, by developing online platforms and rental business
partnerships that will drive the global development of sharing
through economical rental business models.
About AnyWorkspace
AnyWorkspace was established in 2015. It is a real-time
marketplace connecting providers of workspaces (such as desks,
co-working areas, private offices, meeting rooms and event spaces)
with those that need flexible workspace arrangements. Clients gain
access to a reliable and easy-to-use platform, which makes it
simple to book, compare, and review on the increasingly available
options. AnyWorkspace has already successfully raised investment
from experienced angel investors. Headquartered in Hong Kong, and with full-time representatives
in Singapore and Jakarta, AnyWorkspace is rapidly expanding
throughout other major Asian business cities throughout 2016 and
2017. For more information, please visit
https://www.anyworkspace.com/
Safe Harbor Statement
This release contains certain "forward-looking statements"
relating to the business of the Company and its subsidiary and
affiliated companies and certain potential transactions that they
may enter into. These forward looking statements are often
identified by the use of forward looking terminology such as
"believes," "expects" or similar expressions. Such forward looking
statements involve known and unknown risks and uncertainties that
may cause actual results to be materially different from those
described herein as anticipated, believed, estimated or expected.
The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of a
variety of factors, including those discussed in the Company's
periodic reports that are filed with the Securities and Exchange
Commission and available on its website, including factors
described in "Risk Factors" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations" in our
Form 10-K for the year ended December 31, 2016 and in our Form
10-Q for the quarter ended September 30, 2017. All
forward-looking statements attributable to the Company or to
persons acting on its behalf are expressly qualified in their
entirety by these factors other than as required under the
securities laws. The Company does not assume a duty to update these
forward-looking statements.
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SOURCE Cleantech Solutions International, Inc.