HONG KONG, March 8, 2018 /PRNewswire/ -- Sharing Economy
International, Inc. ("SEII" or "the Company") (NASDAQ: SEII) today announced that its wholly-owned subsidiary, EC Technology
& Innovations Ltd. ("EC Technology"), has entered into an exclusivity agreement with the shareholders of Weying Mtel Limited
("Weying Mtel"), regarding a potential acquisition by EC Technology of not less than 51% of Weying Mtel.
Weying Mtel is a joint venture of Mobile Telecom Limited and Weiying Technology ("Weiying"), a company whose largest
shareholder is Tencent. Weiying operates a ticketing service on Tencent's WeChat platform and aims
to accelerate the collaboration of Hong Kong's movie businesses and Weiying's leading position
in Mainland China's ticketing service market to develop ticketing services which it will deploy in global markets outside of
China.
"This is a unique opportunity for the development of SEII's media and advertising business," said Parkson Yip, COO of SEII. "According to Persistence Market Research, the global mobile ticketing market will
reach nearly US$3.2 billion by 2024. Our opportunity with Weying Mtel not only provides the
company with entry to this market opportunity, it also opens other opportunities for the development of our media and advertising
business with more income opportunities as well as market education channels. The majority of the market is still
unfamiliar with the sharing economy and media plays an important role in our market education strategy. Our media and
advertising business unit is planning video and movie projects to educate the market about the sharing economy and the related
technologies that we are using, such as blockchain and artificial intelligence. We want to apply user-friendly media
channels to communicate the benefits of the sharing economy and related technologies, and how our societies can change for the
better in a true sharing community. We value this opportunity to partner with Weying Mtel, which has extensive experiences
in video and movie production and distribution. SEII will extend our technology partnership with Shanghai Ganqu Network
Technologies, whose extensive experience in applying blockchain technologies into ticketing systems will move these initiatives
forward quickly. Our initial targets are global movie theater markets with the potential to expand into other event
ticketing. Weying Mtel is already cultivating partnernships with movie theater in the Asia
regions."
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 Weying Mtel Limited
Weying Mtel Limited aim to accelerate the collaboration of Hong Kong and Mainland China movie
businesses, to increase Hong Kong's box office earning, to help the film market grow
rapidly. Boosting the development of Hong Kong mobile ticketing business and building a
new communication platform, and extend into Asia and global markets.
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.