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Significant Strategic Milestone in Expanding into Anhui Province in Eastern China
ZHUHAI, CHINA / ACCESSWIRE / December 10, 2019 / Powerbridge Technologies Co., Ltd. (NASDAQ:PBTS) ("Powerbridge" or the "Company"), a global trade software applications and technology services provider, today announced that the Company was successfully granted the Bid to provide Powerbridge Smart Zone Solutions to Hefei Integrated Special Regulated Zone for Bonded Goods ("H-Zone"). H-Zone was one of the strategic pilot zones established for expanding China's cross-border eCommerce business. H-Zone was also designated as the Provincial Cross-border eCommerce Industrial Zone in 2018.
As part of the Company's continued market development effort, winning of the H-Zone Bid serves as an important and strategic milestone in expanding into Anhui Province in Eastern China. Powerbridge Smart Zone Solutions will help streamline process operations and enhance overall efficiency for H-Zone, particularly for cross-border eCommerce operations in compliance and logistics.
Stewart Lor, President and Chief Financial Officer, commented, "We are very pleased with winning the bid for H-Zone to provide our Smart Zone Solutions. This is an important step in our continued market development effort in expanding into new geographical markets with our new products and solutions. We are confident that the H-Zone project will serve as a proven "sample case" to generate more business opportunities in Anhui Province, as we expect it to start generating revenue for us in early 2020."
Additionally, Powerbridge successfully executed a strategic partnership with Kebao Culture & Technology Co., Ltd. ("Kebao") to collaborate on product and business development, leveraging the combined strengths of Kebao and Powerbridge in big data, mobile and blockchain technologies. Kebao is a big data and mobile technology driven company specializing in driving business value chains for cross-border eCommerce businesses, particularly for enhancing user traffic values and multi-player trust mechanisms.
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.
President and Chief Financial Officer
SOURCE: Powerbridge Technologies Co., Ltd.
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