Inspirit Studio to Launch Rebranded BuddiGo Errand Services App in the South Asia Market

HONG KONG, May 18, 2018 /PRNewswire/ -- Sharing Economy International Inc. ("SEII" or "the Company") (NASDAQ: SEII) today announced that its subsidiary, Inspirit Studio Limited ("Inspirit Studio"), will officially launch its re-branded mobile platform "BuddiGo" on June 1, 2018. By fully adopting the sharing economy model, BuddiGo seeks to optimize daily commuting trips for everyone. Once commuters (also known as "Buddies") install and connect to BuddiGo, they can utilize their trips and time to make money by performing various daily errands and services for BuddiGo users including inner city delivery, food delivery and grocery shopping.

"According to our prior experience with our 'Anyway' app, we expect tens of thousands of Buddies to register on our platform by the end of 2018 in Asia. These Buddies are capable of handling thousands of daily errand requests for clients," said Kurt Tam, CEO of Inspirit Studio. "BuddiGo is not only getting ready for the official launch of services in Hong Kong but is preparing to expand service coverage in the Guangdong-Hong Kong-Macao Greater Bay Area, and other Asia regions by the end of 2018."

"I look forward to the official launch of our revolutionary 'Buddies' model. We believe BuddiGo will generate significant value for society by utilizing and monetizing our daily commuting trips," said Parkson Yip, Vice President of SEII. "In the past six months, the BuddiGo team has been working very hard to enhance the functionality of its platform to optimize services and provide a user-friendly experience for both users and Buddies. On our platform, anyone can serve as a Buddy and perform delivery, pickup or purchase requests from others, earn extra income, and save our users' time and effort by providing errand services for them."

Mr. Tam also revealed that BuddiGo is capable of analyzing the offline purchasing behavior of its clients based on the services requested. BuddiGo is determined to incorporate client feedback and enhance the quality of its services by fully optimizing its strong data analytics capabilities.

About Sharing Economy International Inc.

Sharing Economy International Inc., through its affiliated companies, designs, manufactures and distributes a line of proprietary high and low temperature dyeing and finishing machinery to the textile industry. The Company's latest business initiatives are focused on targeting the technology and global sharing economy markets, by developing online platforms and rental business partnerships that will drive the global development of sharing through economical rental business models. Moreover, the Company will actively pursue blockchain technology in its existing and to-be-acquired business, enabling the general public to realize the beauty of resource sharing. For more information visit www.seii.com

About Inspirit Studio Limited

Inspirit Studio Limited, an award-winning startup company which has graduated from the largest incubation program in Hong Kong, was acquired by NASDAQ-listed Sharing Economy International Inc. in December 2017. By adopting the sharing economy to disrupt the consumer market, Inspirit Studio aims at providing a global sharing solution and platform, namely BuddiGo, to draw millions of users across countries and regions by optimizing idle resources in communities. For more information, please visit www.buddigo.com.

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary and affiliated companies and certain potential transactions that they may enter into. These forward looking statements are often identified by the use of forward looking terminology such as "believes," "expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website, including factors described in "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Form 10-K for the year ended December 31, 2017 and in our Form 10-Q for the quarter ended March 31, 2018. All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.

SOURCE Sharing Economy International, Inc.

Related Links

http://www.seii.com