BEIJING, Feb. 11, 2022 /PRNewswire/ -- Ucommune
International Ltd. (NASDAQ: UK) ("Ucommune" or the "Company"), a
leading agile office space manager and provider in China, today announced that the Company has
entered into an agreement (the "Agreement") with Xincheng
Enterprise Management Co., Ltd. ("Xincheng") to jointly develop the
Shenfu-Ucommune Digital Economy Industrial Park project (the
"Project") under the Company's asset-light business model.
According to the Agreement, the formal cooperation between Ucommune
and Xincheng commenced on January 1,
2022 and will last until December 31,
2026.
The Project is located in Shenfu Reform and Innovation
Demonstration Zone in Liaoning,
China and has a managed area of 39,066 square meters. The
Shenfu Innovation Demonstration Zone was established by the
Liaoning Provincial Committee and Provincial Government in 2017. In
2018, China's State Council
approved the "Development Plan for the Shenfu Innovation
Demonstration Zone," which instituted the development of Shenfu as
a national strategy.
Ucommune provides professional operations services and digital
management and tenant acquisition systems to the Project. The
Company's project operations team advises on interior decoration
and facilities and equipment, and utilizes its unique operating
model to provide property management services. In addition,
Ucommune cooperates with its partners in a number of areas
including digital industry incubation and tenant acquisition.
Ucommune leverages the synergies developed through this
cooperation to develop a technologically innovative service
network.
Xinhui Bai, Chairman of Xincheng,
commented, "Ucommune's extensive experience in managing large-scale
digital parks and its advanced operating model make the Company the
ideal partner for Xincheng. Our cooperation with Ucommune should
hone our respective competitive advantages and deliver optimal
service levels to our tenants while supporting their growth and
development."
Dr. Daqing Mao, Founder of
Ucommune, stated, "Following the pilot launch of domestic
infrastructure REITs and the implementation of favorable policies
during 2021, the macroenvironment has become increasingly
supportive of the real estate investment cycle. Simultaneously,
operation and management of digital parks has become a fundamental
factor contributing to value growth in the real estate industry.
Ucommune provides full services along the industry chain including
planning, positioning, content creation, incubation, advertising,
and operations. We plan to add value to our partners' assets
while concurrently boosting the economic development of an
ever-greater number of digital parks."
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.