Sharing Economy International Inc. (“SEII” or “the Company”) (OTCQB: SEII) today issued a letter to shareholders:
On behalf of the board of directors of Sharing Economy International Inc. (“SEII”), I would like to report to you the recent business development of the Group. For many industries around the world, 2020 is a year full of changes and challenges, and we are no exception. We transformed our business to developing and marketing sharing economy solutions globally at the beginning of the year, and we and spared no effort to consolidate our business to lay a solid foundation for future development.
Global warming and the various natural disasters that have emerged in recent years have aroused global attention to environmental issues. In addition, the covid-19 epidemic this year has impacted the global economy, business activities, and daily lives of individuals. People’s attention to environmental protection and changes in consumption patterns drive the market demand in environmentally friendly consumption industries that allow individuals and groups to make money from underused assets.
“Sharing Economy”, an economic model defined as a peer-to-peer based activity of acquiring, providing, or sharing access to idle assets and services, or to facilitate collaboration, is not a new concept. Communities of people have shared the use of assets for thousands of years. The newly added element is the advent of the internet and technology that has made it easier for asset owners and those seeking to use those assets to find each other.
The United Nations began to promote the “3R concept” (i.e. Reduce, Reuse and Recycle) two decades ago, and on top of that, SEII now introduces a fourth R, namely Rent. SEII focuses on the sharing economy business, with the mission of changing global consumption pattern to achieve waste reduction at the source through promoting the conception of “Better Renting than Buying”. Our businesses are divided into 3 segments, including the sharing economy business, the innovation technology development, and the rental business.
In the sharing economy business, we own two sharing platforms, namely ECrent, a peer-to-peer sharing rental online marketplace worldwide that is ready to use in over 40 major regions worldwide, and Buddigo, a peer-to-peer mobile solution providing instant delivery and errand services. We will continue to optimize the two platforms and intend to launch a worldwide sharing vehicle program. At the same time, we will do intensive marketing of ECrent platform, aiming at achieving localization in various regions through franchising.
Technology is an important element in this wave of sharing economy development. SEII plans actively study how to make use of big data and artificial intelligence to connect potential users. To achieve this, we intend to identify suitable acquisition targets that could develop new innovative business concepts in the information and communications technology sector. We also plan to explore the feasibility of developing blockchain enabled crypto-currency.
For rental business, we intend to expand rental business streams through acquisition of rental properties in regional markets. Our targets of acquisition include: commercial properties, serviced apartments, co-working spaces, hotels, business service centers, etc. We also plan to launch a worldwide sharing vehicles program to promote use of environmentally friendly electric vehicles. We intend to explore partnership opportunities with renowned electric automobile manufacturers and study the possibilities of introducing them as company’s strategic shareholders.
In the foreseeable future, we believe that the sharing economy and the traditional economy will coexist. We firmly believe the two can complement each other and create a win-win situation. SEII is ready for rapid development. The Group will strengthen its competitiveness through talent acquisition and fundraising in the capital market. We also intend to cooperate with the leading enterprises of the traditional economy and aim to widening our shareholder base by introducing world-famous brands such as Amazon, Tesla and Google.
I am convinced that SEII’s business development strategies are on the right track. Going forward, SEII needs not only to fulfill its promise to create best value for shareholders, but also to shoulder the corporate responsibility of promoting environmental protection and sustainable development. Many people say that the world is experiencing a political and economic storm. I strongly believe that every difficulty is a golden opportunity for our team to accumulate experience, and every challenge brings us closer and pushes us forward.
On behalf of the Board and the management team of the Group, I would like to convey my sincere gratitude to all the shareholders and business partners for their support and trust. I would also like to express my heartfelt thanks to all the employees of the Group for their diligence.
Thank you, and I wish you all good health.
Chairman and CEO