HONG KONG, Aug. 15, 2018 /PRNewswire/ -- Sharing
Economy International Inc. ("SEII" or "the Company") (NASDAQ: SEII) today announced that its wholly-owned subsidiary, Sharing
Economy Investment Limited ("SEII"), has entered into a License Agreement with Ecrent Capital Holdings Limited ("ECRENT"),
regarding the grant of an exclusive and sublicensable license from ECRENT to SEII to utilize certain software and trademarks in
order to develop, launch, operate, commercialize, and maintain an online website platform in United
Kingdom, Germany, France, Poland, Switzerland, Netherlands,
Denmark, Russia, Italy,
Spain, Portugal and Greece. In
return, SEII shall issue to ECRENT 360,000 shares of restricted common stock. ECRENT will guarantee that the operation of its
related websites, mobile applications and business services will contribute revenue of US$20,000,000 and gross profit of US$3,880,000 from the closing date of the
License Agreement through December 31, 2019.
"This agreement is an extension of our licensing with ECRENT in Asia, where we are seeing
good progress and large market opportunities to come," said Parkson Yip, Vice President of SEII.
"Under our current licensing agreement with ECRENT covering the Asian region, we have begun local business development activities
and early indications are promising. Therefore, we have decided to move forward with this agreement to cover the European market
as well. The new agreement provides SEII with another potential income opportunity in the coming year, as well as an expansion of
our market reach into Europe. The sharing economy has been well accepted in European
communities, so we believe a sharing classified advertising platform like ECRENT can open up more channels for sharing
opportunities among consumers and can be adapted in the region quickly. We are seeking local business partners to launch the
local ECRENT operations who may also assist us with the localized deployment of other SEII affiliated solutions as well, such as
BuddiGo and Anyworkspace."
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 Ecrent Capital Holdings Limited
ECRENT is one of the largest and most extensive online global sharing platforms which encourages people to share through
renting to protect our environment. A number of categories of products and services on wedding, properties, venues, transport,
household, tools, equipment, leisure, fashion, accessories, professional services, arts, and public services, can be rented
through its platform. For more information visit www.ecrent.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, 2017 and the Form 10-Q for the quarter ended June 30, 2018. 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.