HONG KONG, June 26, 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
OOB Media HK Limited ("OOB HK"), regarding the potential
acquisition of not less than 51% of the ordinary shares of OOB HK,
which, in turn, effectively holds 60% of the ordinary shares of OOB
Media (Sichuan) Limited ("OOB
Sichuan"). This agreement extends the Exclusivity Agreement
signed on May 9, 2018 by EC Creative
Limited, a wholly-owned subsidiary of SEII, and OOB HK.
OOB Sichuan was established in 2008, and its headquarters is
located in Shanghai. Its shares
were listed on the National Equities Exchange and Quotations in
Mainland China (NEEQ) in 2015. OOB Sichuan is one of the leading
multimedia and advertising companies in Mainland China, providing
integrated solutions for product manufacturers and service
providers to conduct their online marketing campaigns via a
patent-pending Demand-Side Platform ("DSP") system. OOB Sichuan's
operating revenue for fiscal years 2015, 2016 and 2017 was
RMB49.6 million, RMB47.6 million and RMB
62.3 million respectively, and the corresponding net profit
attributable to shareholders amounted to RMB22.4 million, RMB7.5
million and RMB6.3 million
accordingly.
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 OOB Media (Sichuan)
Limited
OOB Sichuan was established in 2008, and its headquarters is
located in Shanghai. Its shares
started listing on the National Equities Exchange and Quotations in
Mainland China since 2015. It is one of the leading multimedia and
advertising companies in Mainland China, providing integrated
solutions for product manufacturers and services providers to
conduct their marketing campaigns effectively via a Demand-Side
Platform ("DSP") system, where OOB Sichuan is currently applying
for five patents for it. For more information
visit www.oobmedia.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 and in our Form 10-Q for the quarter ended Mach 31,
2018. 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.
View original
content:http://www.prnewswire.com/news-releases/sharing-economy-international-extends-exclusivity-agreement-with-oob-media-hk-limited-regarding-potential-acquisition-of-a-majority-interest-in-oob-media-sichuan-limited-300672086.html
SOURCE Sharing Economy International, Inc.