BEIJING, May 25, 2021 /PRNewswire/ -- Ucommune
International Ltd. (NASDAQ: UK) ("Ucommune" or the "Company"), a
leading agile office space manager and provider in China, today announced that it has utilized
its asset-light model to increase the occupancy rate of its
Xinjiang the Pangoal Institution project ("the Project") to 85.65%
in just 10 months, with more than 20 enterprises moving into the
Project's office spaces in the first month of the Project's initial
opening.
Jointly operated by Ucommune and the Pangoal Institution, the
Project has approximately 10,000m2 in office space and is
located in a high-tech digital industrial zone (the "Zone") in
Urumqi, the capital city of Xinjiang Province. Urumqi's Gaoxin
Government and Pangoal Institution have cooperated to make this
Zone the first 5G digital economic industrial zone in Xinjiang.
Centered on the digital economy industry and a new generation of
IT, the Zone promotes 5G, AI, big data, cloud computing,
blockchain, and other technical areas to advance the development of
Xinjiang's overall economy and intelligent capabilities.
The Company has utilized its standardized operational management
processes and professional investment promotion systems under its
asset-light model to increase the Project's occupancy rate at a
rapid pace. The Company has also leveraged its proprietary agile
office space operating system, UDA, proprietary data management
system, Udata, and other technical capabilities to better manage
the Project's office spaces and generate value for the Project's
ecosystem participants.
The Project's success illustrates the benefits of the Company's
asset-light model and serves as an example for how other
large-scale industrial zones can develop more efficiently and
rapidly. With a potent brand influence and premium global
resources, the Company can help to raise the brand awareness of
industrial zones. Furthermore, by bringing together businesses up
and down an industry's value chain, the Company provides value to
each participant in the ecosystem, leading to a flywheel effect. To
date, more than 70 enterprises have connected with the Project's
moved-in enterprises to service their needs, forming a highly
valuable and close-knit professional community ecosystem.
Fan Kun, deputy director of the
External Cooperation Department of Pangoal Institution, commented
on the cooperation, "By partnering with Ucommune, we have not only
accelerated the growth of the Project, but also helped to promote
the growth of IP within Urumqi and bolster the city's brand. We are
very satisfied with Ucommune's robust suite of workspace management
solutions and look forward to more cooperation going forward."
Dr. Daqing Mao, Founder of
Ucommune, commented, "The Xinjiang the Pangoal Institution project
is our 300th project and therefore underscores our
steady business expansion. Looking ahead, we plan to enhance the
Project's smart office capabilities by integrating smart facial
recognition, smart booking platforms, IoT systems, and more. This
should help upgrade and establish the Zone as a pilot area for the
future development of Xinjiang's digital economy."
About Pangoal Institution
Established in 2013, the Pangoal Institution is a public policy
research institute that is largely funded by young Chinese
scholars. As a China-based public
policy think tank, the Pangoal Institution practices the philosophy
of "pursuing harmony between nature and humankind, and applying
knowledge for public policy solutions," adheres to the attitudes of
"Objectiveness, Openness, Inclusiveness" and devotes itself to
global governance, national research and civil diplomacy among BRI
countries and regions, high-quality regional development, aging
societies, digital economy and social governance, macroeconomics
and finance, and more to serve national policy.
About Ucommune International Ltd.
Ucommune is China's leading
agile office space manager and provider. Founded in 2015, Ucommune
has created a large-scale intelligent agile office ecosystem
covering economically vibrant regions throughout China to empower its members with flexible and
cost-efficient office space solutions. Ucommune's various offline
agile office space services include self-operated models, such as U
Space, U Studio, and U Design, as well as asset-light models, such
as U Brand and U Partner. By utilizing its expertise in the real
estate and retail industries, Ucommune operates its agile office
spaces with high efficiency and engages in the urban transformation
of older and under-utilized buildings to redefine commercial real
estate in China.
Safe Harbor Statements
This announcement contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements are made under the "safe
harbor" provisions of the U.S. Private Securities Litigation Reform
Act of 1995. These statements can be identified by terminology such
as "will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "potential," "continue," "ongoing,"
"targets," "guidance" and similar statements. The Company may also
make written or oral forward-looking statements in its periodic
reports to the U.S. Securities and Exchange Commission (the "SEC"),
in its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Any statements that are
not historical facts, including statements about the Company's
beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: the
Company's growth strategies; its future business development,
results of operations and financial condition; its ability to
understand members' needs and provide products and services to
attract and retain members; its ability to maintain and enhance the
recognition and reputation of its brand; its ability to maintain
and improve quality control policies and measures; its ability to
establish and maintain relationships with members and business
partners; trends and competition in China's agile office space market; changes in
its revenues and certain cost or expense items; the expected growth
of China's agile office space
market; PRC governmental policies and regulations relating to the
Company's business and industry, and general economic and business
conditions in China and globally
and assumptions underlying or related to any of the foregoing.
Further information regarding these and other risks, uncertainties
or factors is included in the Company's filings with the SEC. All
information provided in this press release and in the attachments
is as of the date of this press release, and the Company undertakes
no obligation to update any forward-looking statement, except as
required under applicable law.
For investor and media inquiries, please contact:
Ucommune International Ltd.
ir@ucommune.com
ICR, LLC.
Robin Yang
ucommune@icrinc.com
+1 (212) 537-3847
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SOURCE Ucommune International Ltd.