BEIJING and NEW YORK, July 2,
2020 /PRNewswire/ -- Ideanomics (NASDAQ: IDEX) ("Ideanomics"
or the "Company") and Zhongsen Tower today issued a joint press
release clarifying Zhongsen's relationship with provincial
divisions of China Tower Group.
Ideanomics' press release dated June 25,
2020, announced a deal between Ideanomics' Mobile Energy
Global subsidiary ("MEG") and Zhongsen Tower to establish Zhongsen
Tower in Qingdao. At the end of
that press release, Ideanomics referenced an entity named China
Tower Holdings. The correct reference is to provincial divisions of
China Tower Group. China Tower Group, through its provincial
divisions, is more accurately described as a company that works
closely with, or in partnership with, Zhongsen Tower rather than
"affiliated with." Further, the reference in the June 25, 2020 press release to China Tower
Holdings being ranked 71st in the Forbes Top 100
Digital Companies List and 22nd in the Fortune
Future 50 in 2019 was an error. The Company did not intend to
indirectly reference the Hong Kong
publicly listed company China Tower Corporation Limited, which has
the Forbes and Fortune Future rankings.
Zhongsen Tower Vice Chairman and President Guo Yonglei states, "Zhongsen Tower
(Beijing) Telecom Company Ltd
("Zhongsen Tower") is 70% owned by Zhongsen Hongyun (Shenzhen) Industrial Development Co., Ltd, a
subsidiary of ZhongNengYuan (China Energy) Power Fuel Company
Limited a 100% State owned subsidiary of China State Power
Corporation. Zhongsen Tower is dedicated to 5G related new energy
services and is very pleased to have formed a joint venture with
Qingdao Ainengju New Energy Sales and Service Co. (a subsidiary of
MEG). Zhongsen Tower has business relationships with many
partners for regional business development including local
governments, transportation entities, China
State Power's network, energy supplying entities and other
larger state-owned enterprises and financial institutions. Zhongsen
Tower considers provincial divisions of China Tower Group as an
important partner and it plans to jointly invest in municipal
infrastructure with provincial divisions of China Tower Group,
China State Power Corporation, Municipal Administration, and
Transportation to jointly build a smart society based on 5G for
mobile, telecommunications. Zhongsen Tower works closely with
certain provincial divisions of China Tower through various avenues
such as leasing, selling and joint construction to provide
professional services to communication
operators."
About Ideanomics
Ideanomics is a global company focused on facilitating the
adoption of commercial electric vehicles and developing next
generation financial services and Fintech products. Its electric
vehicle division, Mobile Energy Global (MEG) provides group
purchasing discounts on commercial electric vehicles, EV batteries
and electricity as well as financing and charging solutions.
Ideanomics Capital includes DBOT ATS and Intelligenta which provide
innovative financial services solutions powered by AI and
blockchain. MEG and Ideanomics Capital provide our global customers
and partners with better efficiencies and technologies and greater
access to global markets.
The company is headquartered in New
York, NY, and has offices in Beijing and Qingdao,
China.
Safe Harbor Statement
This press release contains
certain statements that may include "forward looking statements".
All statements other than statements of historical fact included
herein are "forward-looking statements." These forward-looking
statements are often identified by the use of forward-looking
terminology such as "believes," "expects" or similar expressions,
involve known and unknown risks and uncertainties, and include
statements regarding our intention to transition our business model
to become a next-generation financial technology company, our
business strategy and planned product offerings, our intention to
phase out our oil trading and consumer electronics businesses, and
potential future financial results. Although the Company believes
that the expectations reflected in such forward-looking statements
are reasonable, they do involve assumptions, risks and
uncertainties, and these expectations may prove to be incorrect.
You should not place undue reliance on these forward-looking
statements, which speak only as of the date of this press release.
The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of a
variety of risks and uncertainties, such as risks related to: our
ability to continue as a going concern; our ability to raise
additional financing to meet our business requirements; the
transformation of our business model; fluctuations in our operating
results; strain to our personnel management, financial systems and
other resources as we grow our business; our ability to attract and
retain key employees and senior management; competitive pressure;
our international operations; and other risks and uncertainties
disclosed under the sections entitled "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" in our most recent Form 10-K and Form 10-Q
filed with the Securities and Exchange Commission, and similar
disclosures in subsequent reports filed with the SEC, which are
available on the SEC website at www.sec.gov.. All forward-looking
statements attributable to the Company or persons acting on its
behalf are expressly qualified in their entirety by these risk
factors. Other than as required under the securities laws, the
Company does not assume a duty to update these
forward-looking statements.
Investor Relations and Media Contact
Tony Sklar, VP of Communications
55 Broadway, 19th Floor New York, New York 10006
Email: ir@ideanomics.com
Valerie Christopherson /
Lora Wilson
Global Results Communications (GRC)
+1 949 306 6476
valeriec@globalresultspr.com
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SOURCE Ideanomics