HONG KONG, Jan. 12, 2018 /PRNewswire/ -- Sharing Economy International, Inc. ("SEII" or "the Company") (NASDAQ: SEII) today announced that its wholly-owned subsidiary, EC Technology & Innovation Limited ("ECTI"), has entered into an exclusivity agreement with Shanghai Ganqu Network Technologies Limited ("Ganqu"), regarding a cooperation for the development of blockchain technologies and applications, as well as a blockchain-powered sharing economy platform allowing access to third-party applications.
Ganqu has extensive experience in developing blockchain-enabled solutions in different areas, ranging from gaming, ticketing and notary services to financial and insurance services. Moreover, Ganqu has developed a blockchain-enabled platform "Hexin", which provides a cloud-based blockchain functional platform that allows application developers to make use of blockchain technologies with minimal effort and much faster deployment time to the market.
"With their solid experience in blockchain applications Ganqu will provide us with strong technical advice and support as we integrate blockchain solutions into our sharing economy ecosystem," said Parkson Yip, COO of SEII. "Blockchain is still a new technological concept, with many parties embracing it and experimenting with how to use it effectively. By partnering with Ganqu, a firm with practical experience in applying blockchain solutions across different industries, we are confident we can complete the development of our own "Sharing Blocks" solution at a very high standard of quality. As with any new technology, there are pros and cons associated with blockchain. We plan to make the best use of this technology to provide a convenient, safe, autonomous, and trustful sharing economy platform and applications."
About Sharing Economy International Inc. (Nasdaq: SEII)
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.
About Shanghai Ganqu Network Technologies Limited
Shanghai Ganqu Network Technologies Limited, a subsidiary of Wanxiang Blockchain, is mainly engaged in the development of blockchain platform solutions to enable more transparent, secure, reliable and trustful gaming experience. Ganqu has also extended its blockchain solutions into other sectors such as ticketing, notary service and financial/insurance industries.
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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