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.
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SOURCE Powerbridge Technologies