FUZHOU, China, Feb. 2, 2021 /PRNewswire/ -- Pingtan
Marine Enterprise Ltd. (NASDAQ: PME) ("Pingtan" or the
"Company"), a fishing company based in the People's Republic of China, today
announced it has signed a Strategic Cooperation Framework Agreement
(the "Agreement") with World Telecom Satellite Technology Limited
("Wotelsat"), a leading private satellite communications operator
in China, and Wuhan Incar
Technology Limited ("Incar"), an Internet of Things (IoT) platform
company.
This strategic cooperation intends to explore the construction
of a new generation of high-speed information platform, PME-Live,
for pelagic fishing vessels based on Wotelsat's Dragon X global
satellite broadband network and China Unicom's 5G communication
technology, and to establish an aquatic products production, supply
and marketing tracking management platform, PME-Track.
PME-Live will have technical support from satellite+5G
integrated communication technology in order to establish the
direct communication channel between pelagic fishing vessels and
mass urban consumers located thousands of kilometers away from the
ocean. PME-Live also aims to provide entertainment and leisure
services for the Company's crew members, to relieve fatigue and
stress from working in the ocean for a long period of time and to
improve work efficiency and satisfaction. The tracking management
platform, PME-Track, will be supported by blockchain technology to
provide transparency and quality assurance to the Company's
consumers. Pursuant to the Agreement, the Company along with
Wotelsat and Incar will soon start a joint project working group to
carry out preparatory work and test pilot.
Mr. Xinrong Zhuo, Chairman and
CEO of the Company, commented: "In recent years, a new channel
of DTC (Direct to Customer), which combined with the live broadcast
and new retail model, has been developed and applied in various
industries as a result of the popularization of 5G communication
technology and mobile Internet. For traditional fishery companies
like Pingtan, Internet Plus is not only a means for companies to
improve their internal management capabilities through information
technology, but also provides a "new gameplay" for companies to
explore new markets and create new revenue. We believe PME-Live and
PME-Track will greatly enhance our management of pelagic fishery
production and allow us to further explore new market for income
and expand our business."
About Wotelsat
Wotelsat is a Chinese local satellite communications company
engaged in satellite communications network operation and satellite
communications technology research and development, equipment
manufacturing, and system solutions. Wotelsat has signed strategic
cooperation agreements with many domestic and international
satellite and communication companies. Its self-developed Dragon
Xpress, which integrates air, space, and ground, has creatively
integrated domestic and foreign satellite resources to achieve
global coverage. In 2017, China Unicom invested Wotelsat and
established a strategic partnership. Wotelsat's two R&D centers
are in Beijing of China and Plymouth of UK.
http://www.worsat.com
About Incar
Incar is a wholly owned subsidiary of Shenzhen Soling Industrial
Co., Ltd. (002766.SZ), and is a leading company in the research and
development of Internet of Vehicles ("IoV") and IoT in China. Incar's R&D center is in
Wuhan, China, with hundreds of
professional R&D personnel. https://www.incarcloud.com
About Pingtan
Pingtan is a fishing company engaging in ocean fishing through
its subsidiary, Fujian Provincial Pingtan County Ocean Fishing
Group Co., Ltd., or Pingtan Fishing.
Business Risks and Forward-Looking Statements
This press release contains forward-looking statements that are
subject to the safe harbors created under the Securities Act of
1933 and the Securities Exchange Act of 1934, as amended. Words
such as "estimate," "project," "forecast," "plan," "believe,"
"may," "expect," "anticipate," "intend," "planned," "potential,"
"can," "expectation" and similar expressions, or the negative of
those expressions, may identify forward-looking statements.
Although forward-looking statements reflect the good faith judgment
of our management, such statements can only be based on facts and
factors currently known by us. Consequently, forward-looking
statements are inherently subject to risks and uncertainties and
actual results and outcomes may differ materially from the results
and outcomes discussed in or anticipated by the forward-looking
statements, including general economic and market conditions and
other risk factors contained in Pingtan's SEC filings available
at www.sec.gov, including Pingtan's most recent Annual Report
on Form 10-K and Quarterly Reports on Form 10-Q. Readers are
cautioned not to place undue reliance on any forward-looking
statements, which speak only as of the date on which they are made.
Pingtan undertakes no obligation to update or revise any
forward-looking statements for any reason, except as required by
law.
CONTACT:
LiMing Yung (Michael)
Chief Financial Officer
Pingtan Marine Enterprise Ltd.
Tel: +86 591 87271753
michaelyung@ptmarine.net
Maggie Li
Investor Relations Manager
Pingtan Marine Enterprise Ltd.
Tel: +86 591 8727 1753
mli@ptmarine.net
INVESTOR RELATIONS
PureRock Communications Limited
PTmarine@pure-rock.com
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SOURCE Pingtan Marine Enterprise Ltd.