HONG KONG, Dec. 11, 2017 /PRNewswire/ -- Cleantech Solutions
International, Inc. ("Cleantech Solutions" or "the Company")
("CLNT") (Nasdaq: CLNT) today announced that its wholly-owned
subsidiary, EC Technology & Innovations Limited ("ECTI"), has
entered into a sale and purchase agreement ("agreement") with the
major shareholders of 3D Discovery Co. Limited ("3D Discovery"), to
acquire a 60% interest in the issued share capital of 3D Discovery
for consideration of HK$3.0 million, which shall be satisfied
by the allotment and issuance of 68,610 unregistered shares of the
Company at a price of $5.606 per share.
Michael Ho, co-founder of 3D
Discovery commented, "3D Discovery will join the CLNT group as a
core member of the 3D technology sector. We believe CLNT's
resources, along with our expertise, will provide a solid
foundation to develop and promote 3D technology related
businesses. Our vision is that our 360 virtual tour mobile
app will become the ideal medium for sharing and experiencing
space."
"3D Discovery's scanning and modeling technology is already
being used by some of Hong Kong's
leading property agencies to provide their clients with a truly
immersive, first-hand experience of a physical space while saving
them time and money," said Parkson
Yip, COO of Cleantech Solutions. "We look forward to working
with them to develop a mobile virtual space solution that can be
deployed to the real estate market very rapidly. We expect this
easy-to-use and affordable marketing tool to have broad appeal in
industries such as hospitality, real estate, and tourism.
"According to Goldman Sachs, the Real Estate virtual reality
("VR") industry is predicted to reach US$2.6
billion in 2025, supported by a potential user base of over
1.4 million registered real estate agents in some of the world's
largest markets. Real Estate VR technologies allow buyers and
renters to almost 'feel' the property and help them to really
understand what living there would be like. The 3D Discovery
virtual space solution is unique in that it does not require the
heavy 3D headset most other solutions are using. Users can simply
walk through the 3D virtual space on both desktop and mobile
platforms and access the information anywhere, anytime," Mr. Yip
concluded.
About Cleantech Solutions International
Cleantech Solutions International ("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.
About 3D Discovery
3D Discovery Co. Limited is a digital marketing company for the
property industry which uses latest computer vision technology to
capture a physical space and showcase it with 360 virtual tour. The
company's goal is to establish 360 virtual tour as a primary medium
for experiencing and sharing space. For more information visit
http://3ddiscoveryco.com.
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.
Contact Information:
Cleantech Solutions International, Inc.
Parkson Yip, Chief Operating
Officer
parkson.yip@cleantechsolutionsinternational.com
+852-31060372
Joseph Chow, Director of Investor
Relations
ir@cleantechsolutionsinternational.com
Web: www.cleantechsolutionsinternational.com
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SOURCE Cleantech Solutions International, Inc.