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CORRECTION: Powerbridge Technologies Announces Successful Launch of its Cross-Border eCommerce SaaS Service Platform

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ZHUHAI, CHINA / ACCESSWIRE / January 23, 2020 / Powerbridge Technologie Co., Ltd. (NASDAQ:PBTS) ("Powerbridge" or the "Company"), a global trade software applications and technology services provider, today announced that its Cross-Border eCommerce SaaS Service Platform has officially launched and started to process orders.

Powerbridge Cross-Border eCommerce SaaS Service Platform ("Powererbridge Cross-Border Platform") is a strategic cooperation with Macau Association of Supply Chain and Macau Chamber of Commerce of Portuguese-speaking Countries. The cooperation aims to operate Macau cross border business transactions and supply chain integration services through Powerbridge Cross-Border Platform. The cross border orders are now available with Macau Wang Gei Hang online APP. Macao Wang Gei Hang is founded since 1975 and it is the first service platform provider for cross border eCommerce in Macau.

Additionally, Powerbridge has successfully developed a cooperative partnership with one of the leading eCommerce companies in China. The partnership promotes Powerbridge Cross-Border Platform in Zhuhai Cross-Border Industrial Zone, a newly recognized cross-border servicing port.

Powerbridge CrossBorder Platform provides vastly enhanced conveniency and helps to improve cross border business activities by connecting trade participants and to provide one-stop services such as cross-border bonded warehouse service, customs declaration service, as well as logistics service and financial service to the enterprises.

What's more, Powerbridge Cross-border Pet Food Supply Chain Platform, a newly developed pet food platform by Powerbridge is successfully going on-line and has completed its first series of orders. This Platform is developed by Powerbridge and co-operates with 28 International Ltd. to take advantage of the fast-growing pet food market in China. Powerbridge Cross-border Pet Food Supply Chain Platform has expanded its operation to Ningbo Port, Weihai Port, Jiujiang Port, and Xiamen Port and is currently further expanding into the other eleven ports throughout China. The market size of Chinese pet industries has been up to 25 billion USD, which was more than the triple of the number in 2013. The predicted market size in 2023 will be approximately 68.45 billion USD.

Stewart Lor, President and Chief Financial Officer of Powerbridge Technologies, commented, "We are extremely pleased to have reached this significant milestone. This shows that our efforts in the new business segment are starting to pay off and our successful transformation into SaaS platform operations. We do expect our venture into cross border eCommerce services will bring in significant growth for the company. We wish to thank our strategic partners and their cooperation in launching our cross-border platforms and already completing transactions on our platforms."

About Powerbridge

Powerbridge Technologies Co., Ltd. (Nasdaq: PBTS) is a provider of software applications and technology solutions and services to corporate and government customers primarily located in China. Founded in 1997, Powerbridge pioneered global trade software applications with a vision to make global trade operations easier for customers. Since inception, Powerbridge has continued to innovate and deliver solutions and services to address the changing needs of thousands of customers. Powerbridge's mission is to make global trade easier by empowering all players in the ecosystem. For more information, visit www.powerbridge.com/en

Safe Harbor Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements; specifically, the Company's statements regarding listing on the NASDAQ Capital Market and the IPO are forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For more information, please contact:

Powerbridge Technologies Co., Ltd.
Stewart Lor
President and Chief Financial Officer
Email: stewartlor@powerbridge.com

Investor Relations:
Hayden IR
Phone: 917-658-7878
Email: hart@haydenir.com

SOURCE: Powerbridge Technologie Co., Ltd.

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