TNMD Announces Closing of Majority Stake Acquisition of Chengdu Yongxue Technology Co., LTD.
Press Release | 02/22/2022
Tianrong Medical Group, Inc. (OTC: TNMD) today announced that its wholly-owned subsidiary, China-based HuanMedia Co. Ltd. https://www.huanmedia.com has completed its majority stake acquisition of Chengdu Yongxue Technology Co. Ltd. ("CYXT"). This collaboration will enhance the Companys student ECOsystem strategy by providing CYXTs bike-sharing services to major universities in China.
CYXT is a rapidly growing company with an established presence in major universities in China. Partnering with a leading provider of power assisted bicycles, their offerings target university communities and student centric locations through their bicycle sharing business model. CYXTs unique business model and operation processes allow for effective expansion across universities. The company plans to provide services to over 50 universities in 2022 with a reach of 1 million university students on daily basis. The power assist bike APP and mini WeChat program allow students to unlock the bikes with a click on their mobile phones.
Bike sharing is highly accepted in China with bike sharing APPs being a staple on students cellphones. Unlike the bike-sharing service model in major cities across China, CYXTs service is designed to allow bike sharing within the universities grounds and designated proximity. The bikes are equipped with accurate GPS guiding systems to ensure the bikes stay within the defined areas and are equipped with battery efficient technology that minimizes charging needs.
Additional APP features such as adaptive course schedule and calendar, class live streaming, e-training, online meal ordering, online shopping and e-wallet will be launched in the first half of 2022.
Howard He, CEO of HuanMedia, stated, This acquisition will take HuanMedias student ECOsystem strategy to a new level. Imagine students taking 10 to 20 minutes of walking from one campus to another, now with the power assisted bike services, they just scan the QR code and hop on. Bike sharing is no doubt one of the most demanding requests on campuses.
HuanMedia was established in 2013 and started off as Chinas number one railway transportation Wi-Fi operator and a leader in China's rail transportation information services. It focuses on the construction and operation of mobile internet in the field of public transportation, internet product development and distribution, big data analysis and scene-based precision marketing services. HuanMedia will now bring the same expertise, technology and strategy to expand into horizontal business sectors, such as the Chinas massive healthcare and financing industries. The Company is headquartered in Chengdu, Sichuan Province, China.
TNMD's vision is the establishment of a fully integrated technology company that provides turnkey technological solutions to multiple Chinese industries. Over time, the Company plans to provide a wide range of services such as software solutions, e-commerce, advisory services, financial services and information technology.
For further information please contact TNMD at info@tianrongmedicalgroup.com
The HuanMedia corporate website can be accessed at https://www.huanmedia.com
The TNMD Twitter account can be accessed at https://twitter.com/TNMDHuanMedia
Silverbear Capital Inc. https://www.sbcfinancialgroup.com.hk/ , a leading, global investment banking firm, will be advising TNMD on strategic matters related to this transaction.
Silverbear Capital Inc. (SBC) has a dynamic of disciplines on a broad commercial level and practice. SBC has a strong group of Partners in a wide range of disciplines with seasoned experience in finance, management, and professional practice. https://www.sbcfinancialgroup.com.hk/meet-our-team/ .
Disclaimer: Silverbear Capital Inc. does not constitute investment advice, or an offer or solicitation to sell, or a solicitation to buy, or any other investment product (nor shall any such shares or product be offered or sold to any person) in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities law of that jurisdiction.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Tianrong Medical Group, Inc. to accomplish its stated plan of business. Tianrong Medical Group, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward- looking statements included herein, the inclusion of such information should not be regarded as a representation by Tianrong Medical Group, Inc. or any other person.
Contact
Tianrong Medical Group, Inc.
info@tianrongmedicalgroup.com
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