HONG KONG, Sept. 25, 2017 /PRNewswire/ -- Cleantech Solutions International, Inc. ("Cleantech Solutions" or "the Company") (NASDAQ: CLNT) today announced that its wholly-owned subsidiary, EC Power (HK), started providing mobile power charger rental services through major convenience store networks in Hong Kong and Macau.
The Company plans to provide mobile power chargers and have them available for rent at certain major convenience stores in Hong Kong and Macau, currently covering over 700 store locations in Hong Kong and over 40 locations in Macau. The rental service allows customers to rent and return mobile power chargers at any of the convenience stores carrying the service.
"Today, the high usage of mobile devices means individuals will always have a need for mobile power chargers," said Parkson Yip, COO of Cleantech Solutions. "We are excited to begin offering our mobile battery charger rental service throughout the major convenience store networks in Hong Kong and Macau. We plan to expand the footprint of these services into other regions in the years to come. We are also considering the acquisition of a battery production company in order to ensure appropriate quality, safety and availability of products to meet market demand. The Company may issue new fundraising plans to support the global expansion of our mobile power charger rental service, and resource acquisition plans to support the service."
According to iimediaResearch, the sharing mobile charger market in China is expected to reach total 104 million in total users in 2017, and grow to 246 million by 2019.
About Cleantech Solutions International
Cleantech Solutions, 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.
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, 2016 and in our Form 10-Q for the quarter ended June 30, 2017. 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.