HONG KONG, Feb. 12, 2018 /PRNewswire/ -- Sharing Economy
International Inc. (Nasdaq: SEII), a clean technology and sharing
economy company that designs, manufactures and distributes of
proprietary high and low temperature dyeing and finishing machinery
to the textile industry, and is engaged in the development of
sharing economy platforms and rental related businesses, today
provided the following letter to shareholders:
Dear SEII Shareholders:
I would like to take this opportunity to wish you all a very
happy, healthy and prosperous 2018.
Throughout 2017, we made significant changes in the overall
direction of the company. Given the headwinds affecting our
manufacturing business, we have made the decision to focus on high
growth opportunities and have added new sharing economy business
units into the group. Our new corporate name, Sharing Economy
International Inc., which became effective a few weeks ago,
reflects this shift in our strategic direction.
Historically, the company has focused on environmentally
friendly solutions, and through the research and development of new
sharing economy businesses, we remain true to that heritage.
Sharing Economy Developments
Today, the sharing economy is in the process of disrupting and
transforming numerous industries, changing both business and
consumer behavior. The sharing economy redefines how resources are
being provided and utilizes them in a more efficient
way. According to Juniper Research, total sharing economy
revenue is predicted to reach $40.2
billion by 2022. PwC UK forecasts the five most prominent
sharing economy sectors --
collaborative finance, peer-to-peer accommodation, peer-to-peer
transportation, on-demand household services and on-demand
professional services, could see a 20-fold increase to €570 billion
by 2025 in European markets, up from just €28 billion
today. The sharing economy is spreading across different
industries and regions, creating new market behavior.
Sharing economy business models are hosted through digital
platforms that enable more precise, real-time measurement of spare
capacity and have the ability to dynamically connect that capacity
with those who need it. These digital platforms handle
transactions that offer access over ownership through renting,
lending, subscribing, reselling, swapping or
donating. Consumers who use sharing economy business models
are often more comfortable with transactions that involve deeper
social interactions than traditional methods of exchange.
In 2017, SEII began studying and acquiring sharing economy
platforms in different market disciplines. Following these
efforts, we are now grouping our sharing economy markets in the
following verticals: coworking and coliving communities, community
consumer resource sharing, collaborative transportation, on-demand
peer-to-peer services, and social referral recruitment.
Technology Development
Because the sharing economy will be built upon digital platforms
to provide precise and real-time services to connect spare capacity
with users, we need to apply advanced technologies to support a
convenient and safe sharing economy ecosystem and build trust among
the participants. SEII has established both in-house engineering
teams and engaged with external technology partners and advisors to
develop a common underlying information and transaction platform
which can be used by different sharing economy vertical
applications. Our technical teams and partners include experts
in blockchain, artificial intelligence, big data, digital imaging
and video technologies, ecommerce
and UI/UX, among others. Blockchain is a technology which
allows secured decentralized transactions to be possible and
provides a digital platform solution for the development of a
sharing economy ecosystem. We are working with our partners to
develop SEII's "Sharing Blocks," a blockchain-based platform which
provides functions for secured user profile information and
transaction records through a "Blockchain as a Service" (BaaS)
model, allowing third-party sharing economy applications to utilize
and build a global consolidated and trustworthy sharing economy
ecosystem.
Sharing Communities
The sharing economy is predicated on the trust of all
participants. The best way to establish sharing behaviors is
within communities. SEII continues to be in active discussions
with ECrent Capital Holdings Limited ("ECrent"), a private company
incorporated in the British Virgin Islands focusing on
developing and operating of a global sharing and rental platform to
promote sharing economy across 30 countries and regions, regarding
a potential merger and acquisition or business cooperation. On
the ECrent platform, users can share and locate items and services
within or close to their community using the search, grouping and
location services. With the global population of 7 billion
individuals embracing sharing communities, we believe ECrent's
sharing community has the potential to provide significant user and
revenue growth opportunity to the group.
Coworking and Coliving Development
According to Small Business Labs, the number of coworking spaces
globally will exceed 30,000 by 2022, with over 5.1 million people
utilizing coworking spaces. SEII is entering the coworking and
coliving spaces market through partnerships and affiliations with
current coworking and coliving space operators. Our recent
acquisition of Anyworkspace, and potential acquisitions of
Quikspace, and JoGeep, combined with the development of our item
rental services "Rental Stations" within our EC Power subsidiary,
will support our coworking and coliving rental community
development.
While still in a very early stage, we are also exploring
opportunities to invest in integrated coworking and coliving
communities through the restructuring of existing hotels, resorts,
service apartments and commercial and residential
properties. Our aim is to revitalize these types of properties
into one-stop coworking and coliving facilities where people can
live and work within one building -- a true community. People can
fulfill their daily needs through short and long term rental models
for items and services within the community such as computer
equipment, appliances, cars, meeting and party rooms, video rooms,
cinema/auditorium and more. All transactions will be processed
through a virtual bank facility and through a secured
cryptocurrency --
Ecoin. We truly believe this has the potential to be a
revolutionary property asset and sharing economy project, which can
offer attractive property asset investments along with growth
potential of the sharing economy. The way people live and
work will change.
On-Demand Services and Referral Recruitment
Another area that SEII group is currently exploring is on-demand
services and referral recruitment. The ways people work and
how services are provided has been changing, and there is a growing
need for short-term services and workforces in the
market. With our newly completed acquisition of Inspirit
Studio, a new sharing platform, Buddigo, will be launched in
mid-2018. Buddigo will allow everyone to share their daily trips by
providing delivery, pick-up and errand services for a fee. In terms
of referral recruitment, we see strong potential here as well. Not
only will it reduce the costs of recruitment, it will increase
trust and reliability for employers. Users can share their
professional networks and act as headhunters for extra income
opportunities, while corporations will benefit from lower costs and
have more confidence in candidates due to endorsements and
references.
Sharing Transportation and Smart City
Transportation is an important part of our daily lives, but it
is also one of the major causes of pollution. Sharing
transportation can help reduce the unnecessary growth of
vehicles. We are working with partners both in technology
development and taxi operators to develop a sharing taxi platform
that provides passengers with the option to share taxi trips
together. Our design will allow users to call a taxi that is
already occupied but identified as shareable. Through a
location service and route planning system, the best sharing taxi
can be suggested to the user. While working with taxi
operators to enhance taxi services, we are also planning to build a
taxi-based city WiFi network. With taxis as the access points,
users can access the network easily, especially travelers arriving
at new locations. Further plans include expanding the network
access points to other types of public
transportation. Establishing a city network will keep us
closer to our users, allow us to offer additional services and
provide opportunities for monetization through targeted media and
advertising in the future.
Going forward, we will focus on these new efforts and
opportunities in sharing economy development. We believe
further M&A has the potential to grow the company rapidly and
aggressively in new market opportunities, technology, products and
platforms, and the more importantly -- teams and talent. We have strong
confidence that these business strategies and expansion plans will
provide a long-term future for SEII and build value for our
investors.
It was an eventful year in 2017. We want to thank our
employees and partners for all their efforts to help establish a
new and solid foundation for 2018 and beyond. We look forward
to providing you with more frequent shareholder updates as we move
forward.
Sincerely,
Mr. Jianhua Wu
Chairman and CEO
Sharing Economy International, Inc.
About Sharing Economy International
Inc
Sharing Economy International Inc.
(Nasdaq: SEII) (formerly known as Cleantech Solutions
International, Inc. ("CLNT")), 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 is
actively pursuing for the application of blockchain technologies in
its existing and to-be-acquired businesses, better enabling the
general public to realize the beauty of resource sharing. For more
information visit www.seii.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 Sharing Economy International, Inc.