HONG KONG, Sept. 25, 2018 /PRNewswire/ -- Cogobuy Group ("Cogobuy" or the "Company", stock code: 400.HK; with its subsidiaries (the ''Group'')), a platform providing artificial intelligence and internet of things ("AIoT") business solutions in China, is pleased to announce its subsidiary, INGDAN.com, signed a memorandum of understanding with Suning Intelligent Terminal Company ("Suning Intelligent") of Suning Technology Group, to open up the upstream and downstream channel resources, and jointly build a new hardware innovation ecosystem through integrating the advantages of both sides as the leading intelligent hardware and O2O retail platform. The integrations of the two companies will facilitate the development, application, and commercialization of IoT hardware in China. The companies have previously cooperated in smart home hardware, wearables, and smart cars.
Under the cooperation, the new hardware ecosystem will bring together INGDAN.com's supply chain and project resources, and Suning Intelligent's sales channels and funds to accelerate the incubation, financing, product launch, and commercialization of smart hardware projects. The initiative is positioned to drive greater integration of China's IoT industry and its traditional industries, as well as consolidate the field of intelligent hardware. With access to both INGDAN.com and Suning Intelligent's upstream and downstream resources, intelligent hardware projects will be able to receive vertically-integrated services including AI chip and module technology solutions, supply chain financing, and sales and distribution assistance, enabling a greater number of projects to realize industrial transformation.
In recent years, Suning Intelligent has provided its customers with intelligent terminal services, powerful data capabilities, and leading intelligent technologies, as well as integrated with major upstream and downstream manufacturers in intelligent voice, video, hardware manufacturing, industrial design, and smart home appliances to establish "Suning Intelligent Biu+ Ecological Alliance". INGDAN.com , which offers strong supply chain resources and its own AI modules, will help Suning Intelligent release a variety of intelligent hardware, including smart home devices, wearables, smart car devices, and many others. The companies will also work together to develop various new smart hardware products.
Mr. Jeffrey Kang, CEO of Cogobuy Group, said, "We are excited to share our latest cooperation with Sunning Intelligent on the new Suning Intelligent Biu+ Ecological Alliance ecosystem, a significant milestone in China's growing IoT industry. Suning Intelligent is the perfect partner for this endeavor, bringing to the table its broad and deep online and offline sales and distribution network, and experience funding incubation projects in the intelligent hardware space. Combined with INGDAN.com's strengths in supply chain and project resources, the new hardware ecosystem will enable the launch of significantly greater numbers of IoT products, and increase IoT industry integration and development. We are also gearing up to co-develop several intelligent hardware products with the help of the new ecosystem, enhancing the monetization rate of INGDAN.com."
About Cogobuy Group
Cogobuy Group is headquartered in Shenzhen, with offices and branches across major cities in China, including Hong Kong, Shanghai, Beijing, Wuhan, Chengdu, Nanjing, Hangzhou and Xi'an, as well as overseas branches in the United States, Singapore, Israel and Japan. The Group is comprised of Cogobuy.com, an IC Components Direct Sales Platform and INGDAN.com, the leading AIoT Business Service Platform. Cogobuy's AIoT ecosystem connects cloud computing and AI core technologies with the Group's expertise in edge computing, machine learning, and deep customization. With the ecosystem, the Group aims to provide AIoT solutions to vertical industries such as smart cars, smart homes, robotics, and customized AIoT chips. For further information, please refer to the Company's website at http://www.cogobuy.com/
About Sunning Intelligent Terminal Company
Sunning Intelligent Terminal Company, established in early 2018, is an affiliate of Sunning Technology Group. Sunning Intelligent Terminal Company builds hardware products and intelligent life solutions for families and individual consumers based on its Internet technology, content, and intelligent retail ecosystem. The Company has deployed its technology across smart home appliances, audio and video displays, sports and health monitoring devices, wearables, and smart car devices. It has also launched a variety of intelligent hardware products, and is establishing the new Suning Intelligent Biu+ Ecological Alliance to offer open intelligent modules, OS systems, and IoT standard agreements. The new cooperation will empower Suning's technology, content, channels, platforms, and services and accelerate China's intelligent hardware industry. For details, please refer to the company website at: http://www.suningholdings.com/
For investor and media enquiries
Please contact Ms. Wanyee Ho / Ms. Amy Guo at ir@cogobuy.com.
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SOURCE Cogobuy Group
