HONG KONG, Jan. 19, 2021 /PRNewswire/ -- UCLOUDLINK GROUP INC. (NASDAQ: UCL, "uCloudlink"), the world's first and leading mobile data traffic sharing marketplace, has inked a Strategic Cooperation Framework Agreement with China Vehicle Interconnected Transport Capacity Technology Co., Ltd. ("CVITC"), a container transportation and logistics company in China. The partnership will see both companies develop innovative smart container solutions for domestic and international freight markets powered by uCloudlink's core patented Cloud SIM technology which accelerates the development of the global container transportation industry.
The advent of container shipping has dramatically improved cargo transportation efficiency around the world. Despite this, this shipping method is often hazardous, and there is a pressing need for the development of an intelligent system that tracks and monitors cargo, containers and transportation status in real-time. Such a system would significantly improve transparency, safety, service levels and efficiency at a company and an industry scale. However, its realization depends on access to superior and stable mobile network connections with wide coverage, high speeds and low latency — particularly when containers are in the transportation process.
The partnership between uCloudlink and CVITC leverages both companies' strengths to address these challenges and build an innovative operation model for the global multi-modal transport capacity of containers. Under the Agreement, uCloudlink will provide CVITC customers with technological platforms such as container sharing operation, transport capacity e-commerce, and truck drop and haul e-operation platforms for domestic and cross-border transportation.
As a leading domestic container transportation and logistics company, CVITC harnesses technology to link various modes of transportation and build a centralized and unified interconnected transport capacity service platform. uCloudlink's Cloud SIM technology enables container logistics companies to use mobile data services freely and flexibly to obtain real-time feedback on utilization status, regardless of location, operation, or restrictions of network service providers. Its instant switching network technology also reduces cross-mobile network switching time to milliseconds, allowing connection quality is always stable and is highly compatible with the diverse needs of Internet-of-thing (IoT) applications.
Smart container solutions are just one application scenario where Cloud SIM technology can be applied to the IoT. uCloudlink's instant switching network technology is also highly compatible with other IoT applications, such as Internet of Vehicles, autopilot, cargo, railway transportation, logistics and other car equipment. Anticipating the launch of global 5G mobile communication networks, uCloudlink has prepared its mobile data services to accelerate the arrival of the 5G cloud era.
The Agreement with CVITC marks an important milestone for uCloudlink, as it seeks to broaden its business boundaries to new industries and apply Cloud SIM technology to IoT application scenarios, such as autopilot, AR/VR and cloud computing. In establishing its global PaaS and SaaS platform ecosystem, uCloudlink will empower more business partners to capitalize on the opportunities presented by 5G cloud technologies with high network speeds, low latency and users' rising demand for superior connection services.
About UCLOUDLINK GROUP INC.
uCloudlink is the world's first and leading mobile data traffic sharing marketplace, pioneering the sharing economy business model for the telecommunications industry. The Company's products and services deliver unique value propositions to mobile data users, handset and smart-hardware companies, mobile virtual network operators (MVNOs) and mobile network operators (MNOs). Leveraging its innovative cloud SIM technology and architecture, the Company has redefined the mobile data connectivity experience by allowing users to gain access to mobile data traffic allowance shared by network operators on its marketplace, while providing reliable connectivity, high speeds and competitive pricing.
