HONG KONG, March 8, 2018 /PRNewswire/ -- Sharing Economy
International, Inc. ("SEII" or "the Company") (NASDAQ: SEII) today
announced that its wholly-owned subsidiary, EC Advertising Limited
("EC Advertising"), has entered into an exclusivity agreement with
the shareholders of Winse Media, regarding a potential acquisition
by EC Advertising of not less than 51% of Winse Media.
Incorporated in Mainland China, Winse Media specializes in
online media advertising. Its headquarters is in Guangzhou and it has technical and operational
centers situated in Beijing and
Chengdu, respectively. Winse Media
has established a cooperative relationship with China's big three mobile service providers:
China Mobile, China Unicom and China Telecom. This provides Winse
Media with access to over 600 million mobile users, providing
opportunities for data mining the
consumption and recreational habits of the users and targeting
advertisements that will have the greatest influence on them. In
2016, Winse Media generated annual revenue and gross operating
profits were RMB27.3 million and
RMB2.2 million respectively.
"We are excited about a potential collaboration with Winse Media
as we work to expand SEII's media and advertising business," said
Parkson Yip, COO of SEII. "We
believe their access to a broad user base of potential clients in
Mainland China will enable our business units such as BuddiGo, 3D
Discovery and AnyWorkspace to promote and expand their businesses
in China. More importantly, its
healthy financial performance can create more operating cash flows
for the Company, which can be used in normal operations and as
capital resources in future acquisition activities."
There can be no assurances that the parties may enter into any
agreement to do a transaction, and even if an agreement is entered
into, there can be no assurances that such transaction will be
consummated.
About Sharing Economy International Inc.
Sharing Economy International Inc., 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. Moreover, the
Company will actively pursue blockchain technology in its existing
and to-be-acquired business, enabling the general public to realize
the beauty of resource sharing. For more information visit
www.seii.com
About Winse Media
Winse Media is an advertising company incorporated in Mainland
China. It focuses mainly on online media advertising business.
Because of its close relationship with the China's big three mobile service providers,
namely China Mobile, China Unicom and China Telecom, it can
effectively disseminate the messages of its clients to over 600
million mobile service users in China.
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 Sharing Economy International, Inc.