Ucommune International Ltd. Announces Added Expense in SaaS Providers and IOT Remedies Subsidiary Xiyu Information

BEIJING, Jan. 25, 2021 /PRNewswire/ — Ucommune International Ltd. (NASDAQ: Uk) (“Ucommune” or the “Business”), a main agile office place supervisor and service provider in China, currently announced an more expense in Beijing Xiyu Information and facts Technologies Co., Ltd. (“Xiyu Data”), a subsidiary of the Organization and provider of SaaS companies and IOT alternatives, increasing its possession in Xiyu Data from 51.% to 53.2%. The Corporation made the decision to boost its financial investment in Xiyu Info to meet the increasing market place demand from customers for SaaS expert services and IOT solutions in China.

Xiyu Information and facts was founded on March 20, 2017. In December 2019, Xiyu Details developed DOMES, a SaaS management system providing office environment properties and industrial parks with SaaS providers for lease contract administration, CRM promotion management, IOT clever machine administration, as nicely as tenant and member operations management. By way of these SaaS solutions, DOMES permits house builders and other contributors together the genuine estate marketplace benefit chain to boost their property values. DOMES’ consumers incorporate many big true estate businesses in China, like Beijing Jingying Menggu Changying Industrial Park and Shanghai Dashu Shared Office.

Dr. Daqing Mao, Founder of Ucommune, commented, “We imagine that Xiyu Information’s SaaS providers and IOT alternatives will tremendously profit the digital transformation in asset management and solutions of China’s present and progressively escalating industrial place marketplace. Moreover, we think Xiyu Facts will supply our customers with much more worth-included providers and comfort in their business functions and office environment management likely forward.”

About Ucommune Intercontinental Ltd.

Ucommune is China’s major agile office area supervisor and supplier. Started in 2015, Ucommune has established a significant-scale intelligent agile office ecosystem covering economically lively locations all over China to empower its users with flexible and expense-economical business office room options. Ucommune’s several offline agile business house providers include self-operated designs, this kind of as U Place, U Studio, and U Layout, as well as asset-light products, these kinds of as U Model and U Companion. By making use of its expertise in the authentic estate and retail industries, Ucommune operates its agile business spaces with substantial efficiency and engages in the urban transformation of more mature and less than-utilized buildings to redefine commercial true estate in China.

Risk-free Harbor Statements 

This push launch consists of forward-wanting statements in just the this means of Area 21E of the Securities Trade Act of 1934, as amended. These ahead-searching statements are produced less than the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be recognized by terminology such as “will,” “expects,” “anticipates,” “long term,” “intends,” “programs,” “believes,” “estimates,” “prospective,” “keep on,” “ongoing,” “targets,” “advice” and related statements. The Corporation may also make composed or oral forward-wanting statements in its periodic studies to the U.S. Securities and Trade Fee (the “SEC”), in its yearly report to shareholders, in press releases and other prepared materials and in oral statements produced by its officers, administrators or workers to third events. Any statements that are not historical information, together with statements about the Company’s beliefs and expectations, are ahead-seeking statements. Forward-on the lookout statements entail inherent dangers and uncertainties. A quantity of elements could trigger actual outcomes to differ materially from people contained in any forward-hunting statement, such as but not limited to the next: the Firm’s ambitions and expansion methods its foreseeable future small business improvement, outcomes of operations and money affliction related governmental insurance policies and restrictions relating to the Company’s enterprise and field and basic economic and business enterprise disorders in China and globally and assumptions fundamental or relevant to any of the foregoing. Even further facts with regards to these and other risks, uncertainties or aspects is provided in the Company’s filings with the SEC. All facts delivered in this press release and in the attachments is as of the date of this press release, and the Firm undertakes no obligation to update any forward-looking assertion, besides as expected under relevant legislation.

For investor and media inquiries, you should call:

Ucommune Global Ltd.
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Sharon Zhou
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+1 (212) 537-3847

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