Sharing Economy International to Partner with Business Office Operation Limited to Jointly Develop O2O Sharing Workspace Business Club with Blockchain and A.I. Technologies

HONG KONG, Jan. 26, 2018 /PRNewswire/ -- Sharing Economy International, Inc. ("SEII" or "the Company") (NASDAQ: SEII) today announced that its wholly-owned subsidiary, EC Rental Limited ("EC Rental"), has entered into a cooperation agreement with Business Office Operation Limited ("BOO"), regarding the joint development of Sharing Workspace Business Club ("the Business Club").

BOO's founder and CEO Tony Yu, who served for the APAC expansion of Regus Business Centre, has extensive experience in the sharing and temporary workspace market. Operating his own workspace business in Hong Kong under BOO, the company has attracted many high-profile international customers, who need convenient workspaces for their regional expansion and operations.

"Sharing workspace is one of the specific sharing economy markets that we are improving with new technology and enhanced operation management, a complete O2O solution," said Parkson Yip, COO of SEII. "The Business Club is an affiliate network of business centers, coworking spaces, and temporary workspaces, together with sharing workspaces offered by private workspace owners. People joining the Business Club can utilize this global workspace affiliate network and feel confident in the quality of the spaces and the services provided. All affiliated workspaces will be displayed online through our 3D virtual space platform by 3D Discovery, so users can have a real tour of the workspaces before the booking is made. Our Business Club will provide more options for business people, as well as SMEs and entrepreneurs with both short-term and long-term sharing and colocation workspaces. With additional online coverage from Anyworkspace.com and Quikspaces.com, we are building a total solution for the sharing workspace market, which will be backed by our advanced blockchain smart contract and transactional system with secured cryptocurrency support. We plan to launch this solution in Asia and Hong Kong in mid-2018 with the goal of expanding into Europe and the US."

"With the rise of entrepreneurialism and a growing contingent workforce, there has been a significant shift in how people work and where they get work done. The needs for temporary and short terms spaces are growing in the market," said Tony Yu, Founder of BOO. "Affiliate workspace providers of the Business Club will enjoy the benefits of our mobile application which can help find occupants for short-term, underutilized workspaces. On the other hand, the A.I. engine can assist Business Club members locate the best-suited workspaces available in the market, based on their professional, geographic, budget, duration and personal style preferences.  We strive to provide the best matching for short-term and long-term sharing and coworking space users."

According to the Global Coworking Survey by deskmag, in 2017, there were 13,800 coworking spaces globally with around 1.18 million people utilizing coworking spaces worldwide. This compares to 8,700 and 510,000, respectively, in 2015.  Small Business Labs has predicted the number of coworking space globally will exceed 30,000 by 2022, with over 5.1 million people working in coworking spaces by 2022.

About Sharing Economy International Inc. (Nasdaq: SEII)

Sharing Economy International Inc. (Nasdaq: SEII) (formerly known as Cleantech Solutions International, Inc. ("CLNT")), 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 is actively pursuing for the application of blockchain technologies in its existing and to-be-acquired businesses, better enabling the general public to realize the beauty of resource sharing. For more information visit www.seii.com.

About Business Office Operation Limited

Business Office Operation Limited is based in Hong Kong and operates business coworking spaces, as well as providing consulting services for coworking space operators to set up new coworking locations in Asia.

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 September 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.

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