Sharing Economy International Reports Full Year 2017 ResultsWUXI, China, April 11, 2018 /PRNewswire/ -- Sharing Economy International Inc. ("SEII" or "the Company") (SEII), a clean technology and sharing economy company that designs, manufactures and distributes of proprietary high and low temperature dyeing and finishing machinery to the textile industry, and is engaged in the development of sharing economy platforms and rental related businesses, today announced its financial results for year ended December 31, 2017."2017 was a challenging yet productive year for SEII. Our legacy dyeing and finishing business continued to face numerous challenges such as difficult economic conditions and limited availability of credit for textile manufacturers in China which adversely impacted our financial results for the year. Considering the difficulties facing this business, we made the decision to change the strategic direction of the Company in the second quarter of 2017 by focusing on high growth opportunities presented by the sharing economy," said Mr. Jianhua Wu, Chairman and CEO of SEII. "We believe a true peer-to-peer sharing economy based on rentals will take significant market share in both the business and consumer markets over the next few years. We have established a number of business units for our sharing economy initiatives in Hong Kong and have made good progress in developing our coworking, on-demand peer-to-peer services and technology platforms. Going forward, we believe further mergers and acquisitions have the potential to grow the Company rapidly and aggressively in new market opportunities, technology, products and platforms."
WUXI, China, April 11, 2018 /PRNewswire/ -- Sharing Economy International Inc. ("SEII" or "the Company") (SEII), a clean technology and sharing economy company that designs, manufactures and distributes of proprietary high and low temperature dyeing and finishing machinery to the textile industry, and is engaged in the development of sharing economy platforms and rental related businesses, today announced its financial results for year ended December 31, 2017."2017 was a challenging yet productive year for SEII. Our legacy dyeing and finishing business continued to face numerous challenges such as difficult economic conditions and limited availability of credit for textile manufacturers in China which adversely impacted our financial results for the year. Considering the difficulties facing this business, we made the decision to change the strategic direction of the Company in the second quarter of 2017 by focusing on high growth opportunities presented by the sharing economy," said Mr. Jianhua Wu, Chairman and CEO of SEII. "We believe a true peer-to-peer sharing economy based on rentals will take significant market share in both the business and consumer markets over the next few years. We have established a number of business units for our sharing economy initiatives in Hong Kong and have made good progress in developing our coworking, on-demand peer-to-peer services and technology platforms. Going forward, we believe further mergers and acquisitions have the potential to grow the Company rapidly and aggressively in new market opportunities, technology, products and platforms."
