BEIJING, July 19,
2023 /PRNewswire/ -- Infobird Co., Ltd (Nasdaq: IFBD)
("Infobird" or the "Company"), a software-as-a-service provider of
AI-powered customer engagement solutions in China, today announced its decision to
relocate its operations from Beijing to the Hong Kong Special
Administrative Region. This strategic move comes in response to the
board of directors' judgement of current business situation and
economic environment, as well as the Company's commitment to expand
globally.
Infobird will relocate its operations to Hong Kong and recruit more local employees in
the region. Additionally, Infobird plans to proactively expand its
presence in the global market and cater to the diverse needs of
customers worldwide by establishing new offices in other key
locations such as Singapore, other
parts of Southeast Asia, and
Europe.
The relocation represents a significant step of the Company
towards becoming a global player in the software-as-a-service
("SaaS") industry.
As part of its growth strategy, the Company will expand its
business to focus on the SaaS segmented scenarios, particularly in
the fields of finance, real estate and hotel management. By
shifting its focus to high-margin market segments, Infobird aims to
enhance its competitive advantage and generate positive cash
flow.
Mr. Cheuk Yee Li, CEO of
Infobird, commented, "Our relocation to Hong Kong marks a significant milestone for
Infobird as we embark on an exciting journey towards global
expansion. We are confident that this strategic move will enable us
to better serve our international clientele and pave the way for
innovations."
In line with its global expansion plans, Infobird plans to
actively seek strategic investments to fuel its growth and
innovation and establish global research and development centers to
drive continuous advancements in its technology and product
offerings.
About Infobird Co., Ltd
Infobird, headquartered in Hong
Kong, is a SaaS provider of AI-powered customer engagement
solutions. For more information, visit Infobird's website at
www.Infobird.com.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Words such as "plans", "will," "future," "expects,"
"believes," and "intends," or similar expressions, are intended to
identify forward-looking statements. Statements that are not
historical facts, including statements about the Company's beliefs
and expectations, are forward-looking statements. All
forward-looking statements are inherently uncertain as they are
based on current expectations and assumptions concerning future
events, results, conditions or performance of the Company. Readers
are cautioned not to place undue reliance on these forward-looking
statements, which are only predictions and speak only as of the
date they are made. In evaluating such statements, investors and
prospective investors should review carefully various risks and
uncertainties and other matters identified in the Company's filings
with the U.S. Securities and Exchange Commission. These risks and
uncertainties could cause the Company's actual results to differ
materially from those indicated in the forward-looking statements.
The Company undertakes no obligation to publicly update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required
by law.
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SOURCE Infobird Co., Ltd