Cogobuy Establishes AI + Healthcare Industrial Center in Xiamen

HONG KONG, Jan. 7, 2018 /PRNewswire/ -- Cogobuy Group ("Cogobuy" or the "Company", stock code: 400.HK; with its subsidiaries (the ''Group'')), an e-commerce platform serving the electronics manufacturing industry in China, is pleased to announce the Company has signed a strategic cooperation agreement with the People's Government of Xiang'an Xiamen, to build China's first healthcare industry center in Xiamen; The Company expects its performance will be back on track this year as the INGDAN.com commercialization service income increases and direct sales business rebounds.

Cogobuy confirmed "INGDAN.com Commercialization + IC Component Trading Platform" dual business model as the major business focus recently. The commercialization of INGDAN.com projects in robot, smart car and AI+ industries is happening. Serving innovative SMEs in emerging industries and applying AI technologies to upgrade traditional enterprises will be the business key points in 2018.

Healthcare has been a new industry which has started adopting AI technology applications. Healthcare innovation has been one of the new areas INGDAN.com is building its presence. According to the agreement, the People's Government of Xiang'an Xiamen, Cogobuy, and Deloitte Enterprise Consultants (Shenzhen) Company Limited will jointly establish a new healthcare center in Xiamen's Xiang'an District. The agreement focuses on promoting healthcare projects, establishing healthcare industry investment funds, and the build out of a new healthcare medical data platform. INGDAN.com platform now hosts over 1,000 healthcare innovation projects, many of which are likely to be gradually introduced to the new healthcare center.

Mr. Jeffrey Kang, CEO of Cogobuy Group, said, "As a global electronics manufacturing hub, Cogobuy is proud of using its resources and experience in the healthcare field to assist the People's Government of Xiang'an Xiamen in realizing its vision for the new healthcare center. The direct sales business has rebounded after reaching a low point in the third quarter last year. With development of INGDAN.com commercialization, we are confident that company will resume growth this year."

About Cogobuy Group

Cogobuy Group is an e-commerce service platform serving the electronics manufacturing industry in China. Through the e-commerce platform, which includes a direct sales platform, an online marketplace, and a dedicated team of technical consultants and professional sales representatives, the Company provides customers with comprehensive online and offline services across pre-sale, sale, and post-sale stages. For further information, please visit the Company's website at http://www.cogobuy.com/

About INGDAN.com

INGDAN.com is a platform dedicated to connecting global intelligent hardware entrepreneurs and China-based supply chain resources. The platform provides information on hardware innovation, supply chain data and supply chain demand docking for global IoT innovators and entrepreneurs. It is a one-stop hardware innovation business platform with its core being the "supply chain". For further information, please visit the Company's website at http://www.ingdan.com/

About Xiang'an District of Xiamen

Xiamen is one of the first batch pilot of four cities in constructing big data center of health and medical treatment and related industrial parks of China. Xiang'an District, established by Xiamen government in September 2003, has ranked the second industrial output of Xiamen. Xiang'an District will be developed to be an economic vice-center of Xiamen. In June 2017, the Xiang'an District People's Government of Xiamen cooperated with Deloitte to analysis the implementation plan of Xiang'an District big data center of health and medical treatment. In September 2017, the small leading group of big data center was established in Xiang'an.

SOURCE Cogobuy Group