Remark Holdings Announces Agreement with Leading Chinese Retailer, Beijing Hualian Group
LAS VEGAS, Feb. 5, 2018 /PRNewswire/ -- Remark Holdings, Inc. (NASDAQ: MARK), a global technology company focused on providing artificial intelligence ("AI") solutions, announced that after four months of testing, Beijing Hualian Group, one of China's largest retailers, selected KanKan, Remark Holdings' artificial intelligence platform, as its data and AI solution partner. Remark and Beijing Hualian Group will work in partnership to apply KanKan's data and AI solutions to many of Beijing Hualian Group's retail businesses, such as shopping malls, supermarkets, coffee chains and fast food outlets. The strong partnership introduces KanKan's data and AI technology products and services into large retail businesses, and Remark is confident that this agreement will lead to the company securing more deals in the retail space in the future. Remark expects the agreement with Beijing Hualian Group represents a multi-million-dollar revenue opportunity during the next 24 months and beyond.
"We continue to work hard to bring game-changing AI products and services to market as rapidly and successfully as possible," stated Kai-Shing Tao, Chairman and CEO of Remark Holdings. "Our agreement with Beijing Hualian Group is another in a series of recent agreements that we believe demonstrate our success in applying KanKan's advanced data and AI technologies across various industries."
About Remark Holdings, Inc.
Remark Holdings, Inc. (NASDAQ: MARK) primarily focuses on the development and deployment of artificial-intelligence-based solutions for businesses and software developers in many industries. Additionally, the company owns and operates digital media properties that deliver relevant, dynamic content. The company is headquartered in Las Vegas, Nevada, with additional operations in Los Angeles, California and in Beijing, Shanghai, Chengdu and Hangzhou, China. For more information, please visit the company's website at www.remarkholdings.com.
About Beijing Hualian Group
Beijing Hualian Group is a leading Chinese retailer. The group's main activities include the operation of supermarkets and department stores, as well as the sale of general merchandise, textiles, daily-use products and fresh fruits and vegetables. More information regarding Beijing Hualian Group can be found at http://en.beijing-hualian.com/AboutBHG/index.jhtml.
Forward-Looking Statements
This press release may contain forward-looking statements, including information relating to future events, future financial performance, strategies, expectations, competitive environment and regulation. Words such as "may," "should," "could," "would," "predicts," "potential," "continue," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and similar expressions, as well as statements in future tense, identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, including those discussed in Part I, Item 1A. Risk Factors in Remark Holdings' Annual Report on Form 10-K and Remark Holdings' other filings with the SEC. Any forward-looking statements reflect Remark Holdings' current views with respect to future events, are based on assumptions and are subject to risks and uncertainties. Given such uncertainties, you should not place undue reliance on any forward-looking statements, which represent Remark Holdings' estimates and assumptions only as of the date hereof. Except as required by law, Remark Holdings undertakes no obligation to update or revise publicly any forward-looking statements after the date hereof, whether as a result of new information, future events or otherwise.
Company Contact:
Douglas Osrow, CFO
Remark Holdings, Inc.
[email protected]
702-701-9514, ext. 3025
Investor Relations Contact:
Matt Glover or Tom Colton
Liolios Group, Inc.
[email protected]
949-574-3860
SOURCE Remark Holdings, Inc.
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