ZHUHAI, China, March 30, 2022 /PRNewswire/ -- Powerbridge
Technologies Co., Ltd. (Nasdaq: PBTS) ("Powerbridge" or the
"Company"), a provider of multi-industry technology solutions,
announced that Powerbridge Smart Monitoring Platform ("Powerbridge
SMP") was selected by Zhuhai City Science and Technology Innovation
Bureau to be the prime choice of procurement for Border Trade
Zones, Trade Ports, Free Trade Zones, International Express Courier
Centers, and Bonded Warehouses.
The concepts of "Smart Customs, Smart Connectivity and "Embedded
Supervision" were proposed by the Chinese Customs to solve the
issues of customs management, disconnected information, inefficient
operations, and insufficient business coordination. Powerbridge SMP
incorporates the most updated technologies including Beidou
Navigation System, AR, IoT and AI, which enables smart monitoring
and control, embedded management and automatic clearance of goods
at a variety of cross-country borders where highly regulated
trading and operations take place. Since deployed at several ports
in Guangxi Province, Powerbridge
SMP has generated more than 2.4 million US
dollars in revenue.
The deployment of Powerbridge SMP has brought significant
results for the Company's customers. The recorded duration of
vehicle clearance has been reduced by 37% and the volume of
imported goods from border areas has increased by 46.7%. Meanwhile,
the efficiency of customs inspection has improved by 40% while the
labor requirement has reduced by 50%. As such, Powerbridge SMP has
gained competitive advantages in the market and generated strong
interest in the industry. The Powerbridge SMP is expected to bring
additional revenue of more than 15 million
US dollars within the next two to three years.
Stewart Lor, President of
Powerbridge commented "Powerbridge has always been committed to
providing platform applications and digital services covering smart
ports, smart customs and digital cross-border trade for government
agencies and enterprise customers. We have been offering our
customers complete solutions, proposing a more efficient way of
intelligent surveillance and operations and seamless inspection as
well. At the same time, we have been devoting ourselves to ensuring
effective operations of customs clearance of goods throughout the
entire process for all the border trade participants."
About Powerbridge Technologies
Powerbridge Technologies Co., Ltd. (Nasdaq: PBTS) is a provider
of multi-industry technology solutions: software applications and
services for the global trade industry, IoT platform services as
well as intelligent fixtures and devices for smart city operations,
supply chain platforms and social livestreaming services for the
retail industry, metaverse and smart solutions for the travel and
leisure industry, as well as cryptomining and digital asset
operations. 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