Featured Company News - Cleantech Solutions International and Inspirit Studio Enter an Exclusivity Agreement
ACCESS Newswire
LONDON, UK / ACCESSWIRE / October 11, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Cleantech Solutions International, Inc. (NASDAQ: CLNT), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=CLNT. Sharing Economy Investment Limited ("SEI"), a wholly owned subsidiary of Cleantech Solutions International ("Cleantech" or "the Company"), announced on October 09, 2017, the signing of an Exclusivity Agreement with Inspirit Studio. The agreement is about a potential acquisition by SEI of up to 51% of Inspirit Studio. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Inspirit Studio is a mobile app development company which has developed a sharing economy mobile platform called Anyway. It allows people to work as freelance couriers during their hours of commuting and earn money based on it. It connects senders and wiling couriers freelancing to deliver parcels and letters across the length and breadth of the city in a low cost and quick delivery model. As CEO of Anyway explains that the service is meant to fill the gap in the existing courier service to have people in close proximity to the service area and senders be able to offer their services with no limitation of service and business hours. In a five-month pilot across Hong Kong, the company has successfully transacted 6,000 deliveries with 2,000 couriers having signed up.
COO of Cleantech Solutions, Parkson Yip, sees this app as part of the bridging of economy platforms that the Company is involved in. The Company hopes to expand the capabilities of the app and make it globally available. The news has been positively received by the market and on the morning of the announcement, the Company's shares were crossing the yearly highs at a six-month high of $7.93.
Peer-to-peer Applications
China has seen a surge of peer-to-peer applications such as lending, cryptocurrency transactions, and various other ecommerce platforms have developed their own ecosystem. Except in a few cases of lending and cryptocurrency where the government is coming with tough regulations, these companies are receiving support from the usually tough Chinese government. In 2016, the market reached a turnover of $63.2 billion and hopes to reach $492 billion in two years, as per investment bank GP Bullhound.
About the Company
The Company is primarily a world-class manufacturing company with operations in China focused on technological needs of the clean energy industry. The Company has expanded servicing specific industrial sectors with specialized needs including the wind energy manufacturing sector and the dyeing and finishing equipment needs of the textile industry. It has ventured into new business initiatives focused on technology and global sharing economy markets by developing online platforms and rental business partnerships to drive the global expansion of sharing through economical rental business models.
About Inspirit Studios
Inspirit Studio is a mobile app platform developer providing instant errand services in peer to peer model. Its vision is to create an innovative consumption pattern and improve life quality by effectively reallocating idle resources in communities. Income is mainly generated from commission charged on each errand service transaction. Moreover, the Company will diversify its revenue stream by introducing advertising business and big data analytic. The upcoming mission is to expand its errand network, continuously optimize its business model, integrate into the ecosystem of the Group and join into a global network.
Last Close Stock Review
Cleantech Solutions' share price finished yesterday's trading session at $4.90, tumbling 24.85%. A total volume of 1.07 million shares have exchanged hands, which was higher than the 3-month average volume of 307.14 thousand shares. The Company's stock price soared 47.15% in the past one month, 11.62% in the last three months and 25.00% in the previous twelve months. Additionally, the stock skyrocketed 85.61% since the start of the year. The stock currently has a market cap of $9.65 million.
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