ZW Data Action Technologies and Micro Connect Cooperate to Promote Leapfrog Development for Brand Stores Scale
14 Dicembre 2022 - 1:30PM
ZW Data Action Technologies, Inc. (Nasdaq: CNET) ("ZW Data" or the
"Company"), an integrated online advertising, precision marketing,
data analytics, and other value-added services company, today
announced that it has officially partnered with Micro Connect, and
together the two parties will explore cooperation solutions for
chain store development, connect international capital with China’s
quality innovation and entrepreneurial resources, and promote
leapfrog development for China’s quality brand stores scale.
Additionally, through providing value-added services for small and
micro brick and mortar retailers, the Company aims to support more
brick-and-mortar retailers and chain brands.
Micro Connect , co-founded by the former CEO of
Hong Kong Exchanges and Clearing Limited Charles Li, and founder of
Oriental Patron Financial Group Limited Gaobo Zhang, is a new
financial market platform connecting global capital with China’s
micro and small businesses. Micro Connect provides convenient and
affordable long-term capital support to Chinese micro and small
enterprise through well-known Chinese and global investors. Its
partner investment institutions include Sequoia Capital (China),
ABC International, Lenovo Capital and Incubator Group, Li Ka-shing
family, New World Development Chow Tai Fook and K11 family. As of
November 2022, Micro Connect has invested in more than 1,800 brick
and mortar stores and 170 chain brands, covering major sectors of
retail, food and beverage, consumer services, cultures and sports,
in more than 140 cities across 31 provinces in China.
Through this cooperation, Micro Connect and ZW Data
expect to jointly leverage their strengths in brick-and-mortar
store investment and franchising to integrate resources and
channels. ZW Data will focus on incubating a number of high-quality
local brands in China and provide investment promotion and
franchising services to these brands. Micro Connect will provide
long-term, stable and compliant investment cooperation capital to
support the development of brick-and-mortar retail stores, and
promote the rapid development of store scale.
“We are thrilled to announce this partnership.
We have been improving our value-added services to brands in
addition to our existing sophisticated investment promotion and
digital marketing services to seek longer-term company development
and new paths. Combined with Micro Connect’s capabilities, ZW Data
anticipates to be able to effectively meet the needs of brand store
development, further improving the Company’s for support for
quality brand expansion. Moreover, with the adjustment of China’s
pandemic policy, we believe that China will see a strong rebound in
consumption in 2023, which brings great rebound potential for many
markets. As such, we will continue to explore more cooperation
opportunities to increase our services offerings and profitability
going forward,” commented Handong Cheng, Chairman and Chief
Executive Officer of ZW Data.
About ZW Data Action Technologies
Inc.
Established in 2003 and headquartered in
Beijing, China, ZW Data Action Technologies Inc. (the “Company”)
offers online advertising, precision marketing, data analytics and
other value-added services for enterprise clients. Leveraging its
fully integrated services platform, proprietary database, and
cutting-edge algorithms, ZW Data Action Technologies delivers
customized, result-driven business solutions for small and
medium-sized enterprise clients in China. The Company also develops
blockchain and artificial intelligence enabled web/mobile
applications and software solutions for the general public,
enterprise clients, and government agencies. More information about
the Company can be found at: http://www.zdat.com/.
Safe Harbor Statement
This release contains certain "forward-looking
statements" relating to the business of ZW Data Action
Technologies Inc., which can be identified by the use of
forward-looking terminology such as "believes," "expects,"
"anticipates," "estimates" or similar expressions. Such
forward-looking statements involve known and unknown risks and
uncertainties, including business uncertainties relating to
government regulation of our industry, market demand, reliance on
key personnel, future capital requirements, competition in general
and other factors that may cause actual results to be materially
different from those described herein as anticipated, believed,
estimated or expected. Certain of these risks and uncertainties are
or will be described in greater detail in our filings with the
Securities and Exchange Commission. These forward-looking
statements are based on ZW Data Action
Technologies Inc.’s current expectations and beliefs
concerning future developments and their potential effects on the
Company. There can be no assurance that future developments
affecting ZW Data Action Technologies Inc. will be those
anticipated by ZW Data Action Technologies Inc.. These
forward-looking statements involve a number of risks, uncertainties
(some of which are beyond the control of the Company) or other
assumptions that may cause actual results or performance to be
materially different from those expressed or implied by such
forward-looking statements. ZW Data Action Technologies
Inc. undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required under
applicable securities laws.
For more information, please contact:
Sherry
Zheng Weitian Group
LLCEmail: shunyu.zheng@weitian-ir.comPhone: +1 718-213-7386
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