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Seize New Growth Opportunities by Utilizing Blockchain and Big Data
ZHUHAI, China, Dec. 20, 2021 /PRNewswire/ -- Powerbridge Technologies Co., Ltd. (Nasdaq: PBTS) ("Powerbridge" or the "Company"), a SaaS solutions and blockchain applications provider, is pleased to announce that it has established a new wholly-owned subsidiary, Powerstream Supply Chain Co., Ltd. ("Powerstream"), to target new growth opportunities in supply chain, retail sector, new media and e-commerce.
Powerstream is creating a technology enabled supply chain financing platform and ecosystem by utilizing blockchain and big data, involving enhanced retail, new media, and live streaming s-commerce. The Powerstream platform integrates online and offline sales and supply chain into a new dynamic retail world.
The Powerstream platform solidifies the business value chain and promotes real-time sharing of resources and information among the varying participants in the supply chain. It also improves the efficiency of capital turnover by using an innovative closed-loop capital service model.
During 2021, Powerstream collaborated with Suddenly a Week Brand Management ("Suddenly a Week"), a rising retail company, to help build and manage its new retail ecosystem. Suddenly a Week is improving its business model to a seamless online/offline omni-channel for retail stores, which is expected to enhance consumption experience and purchasing behavior.
"We discover new opportunities in retail sector by extending the merchandise scope and enhancing consumption experience with blockchain and big data. Powerstream is created with cutting-edge technology to improve the value chain of goods, help integrate resources, enhance operational efficiency and promote revenue growth." said Stewart Lor, President of Powerbridge.
Stewart Lor added: "Our recent success in Suddenly a Week is a great practice to the integration of big data, blockchain, and fintech services in the retail sector. We are enthusiastic about Powerstream's future, and its revenue contribution is expected to reach $100 million in the next 24 months. We will keep working on developing additional innovative business models with high growth potential and high returns."
About Powerbridge Technologies
Powerbridge Technologies Co., Ltd. (Nasdaq: PBTS) a growth-driven technology company is primarily engaged in SaaS solutions and Blockchain applications. Powerbridge SaaS integrates AI, big data, and IoT offering SaaS platforms for cross-border eCommerce, supply chain, data intelligence, and IoT applications and devices. Powerbridge Blockchain consists of BTC and ETH mining and digital assets, IPFS distributed network services, and industry-specific Blockchain applications.
For more information, visit: www.powerbridge.com/ir/
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.
SOURCE Powerbridge Technologies