HONG KONG, May 8, 2018 /PRNewswire/ -- Sharing Economy
International, Inc. ("SEII" or "the Company") (NASDAQ: SEII) today
announced that its wholly-owned subsidiary, Sharing Economy
Investment Limited, has entered into a License Agreement with
Ecrent Capital Holdings Limited ("ECRENT"), regarding the grant of
an exclusive and sublicensable license from ECRENT to SEII to
utilize certain software and trademarks in order to develop,
launch, operate, commercialize, and maintain an online website
platform in Taiwan, Thailand, India, Indonesia, Singapore, Malaysia, the
Philippines, Vietnam,
Cambodia, Japan, and Korea. In return, SEII shall issue
to ECRENT 530,000 shares of common stock. ECRENT will
guarantee that the operation of its related websites, mobile
applications and business services will contribute revenue of
US$15,000,000 and gross profit of
US$2,910,000 from the closing date
until December 31, 2019.
"I believe this is the perfect way to start working with ECRENT
in pursuit of our common goal of proliferating the sharing economy
business," said Parkson Yip, Vice
President of SEII. "We are very happy to have structured this
'win-win' cooperative agreement, which enables both
of us to utilize the counterparties' competitive advantages to
further develop our own business. Being a leading global rental
classified ad platform, ECRENT is becoming the central repository
for rental and service opportunities in the global market. ECRENT
represents a true sharing model, where people can share and rent
items from each other via a peer-to-peer network. ECRENT will play
a crucial role in our online strategies to create effective
matchups between supply and demand within the SEII sharing economy
ecosystem. On one hand, we expect ECRENT will become a revenue
driver for SEII; on the other hand, ECRENT will be able to leverage
on the technology and marketing expertise, as well as the human
resources, of SEII to explore its fruitful overseas markets. We
strongly believe that the business operations will create enormous
value to our shareholders."
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 Ecrent Capital Holdings Limited
ECRENT is one of the largest and most extensive online global
sharing platforms which encourages people to share through renting
to protect our environment. A number of categories of products and
services on wedding, properties, venues, transport, household,
tools, equipment, leisure, fashion, accessories, professional
services, arts, and public services, can be rented through its
platform. For more information visit www.ecrent.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,
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.