Gridsum Enters into Strategic Alliance with ShineWing to Intelligentize Professional Services

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Gridsum Enters into Strategic Alliance with ShineWing to Intelligentize Professional Services

BEIJING, April 29, 2019 /PRNewswire/ -- Gridsum Holding Inc. ("Gridsum" or the "Company") (NASDAQ: GSUM), a leading provider of cloud-based big-data analytics and artificial intelligence ("AI") solutions in China, today announced it has entered into a strategic alliance with ShineWing, the largest domestic accounting and consulting firm in China, to intelligentize professional services.

Gridsum and ShineWing will work together to promote the application of big data and AI within professional services and marks a significant milestone for both parties. Under the terms of agreement, Gridsum will leverage its deep experience in developing emerging AI, and big data analytic technologies and apply them to ShineWing's professional services practice in auditing, assurance, management consulting, construction consulting, and taxation and accounting. Gridsum and ShineWing's experience in strategic development planning and project implementation will help companies digitally transform themselves in addition to further developing IIOT and intelligent manufacturing in China.

In addition, Gridsum and ShineWing will jointly develop an innovative Platform as a Service, which will provide a one-stop platform for high-end intelligentized professional services to companies across a variety of industries. Both parties will also strengthen cooperation between leading international think tanks and universities to intelligentize the formation of China's public policy.

Mr. Ke Zhang, Chairman of ShineWing, commented, "The digital economy has been widely recognized as the new driving force behind today's society. Informationization is having a significant impact on economic development, which affects organizations across all industries. With Gridsum as our partner, ShineWing will have the necessary resources to dive deep into a variety of businesses, solve root problems, and better serve our customers while promoting their digital transformation."

Mr. Guosheng Qi, Chief Executive Officer of Gridsum, commented, "We are entering the era of digital transformation and informationization. Applying AI and big data can solve a number of problems that affect many industries and will facilitate corporate transformation and data governance. I strongly believe that our cooperation with ShineWing will boost the transformation from a labor-intensive model to a refined and intelligentized system across all industries, which will greatly benefit China's digital revolution."

About ShineWing

ShineWing expands its professional services into four areas, including Audit & Assurance, Management Consulting, Tax & Accounting, and Construction Consulting with over 8,000 employees (including more than 400 partners) across 14 different countries and regions with 80 offices worldwide. After more than 30 years of progress and development, ShineWing has achieved a fully integrated management system while being fully committed to its plans for global expansion. ShineWing has now become China's most renowned and comprehensive professional service organization with international coverage.

About Gridsum

Gridsum Holding Inc. (NASDAQ: GSUM) is a leading provider of cloud-based big-data analytics and AI solutions for multinational and domestic enterprises and government agencies in China. Gridsum's core technology, the Gridsum Big Data Platform and the Gridsum Prophet: Enterprise AI Engine, is built on a distributed computing framework and performs real-time multi-dimensional correlation analysis of both structured and unstructured data. This enables Gridsum's customers to identify complex relationships within their data and gain new insights that help them make better business decisions. The Company is named "Gridsum" to symbolize the combination of distributed computing (Grid) and analytics (sum). As a digital intelligence pioneer, the Company's mission is to help enterprises and government organizations in China use data in new and powerful ways to make better informed decisions and be more productive.

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Safe Harbor Statement

This announcement contains forward-looking statements. 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 "may," "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to" and similar statements. Forward-looking statements in this release include quotations from management, our strategic and operational plans as well as our stated expectations of future trends in our business. Forward-looking statements involve inherent risks and uncertainties. Many factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to unexpected difficulties in pursuit of our goals and strategies, unpredictability of demand for new solutions we have developed, difficulties keeping and strengthening relationships with customers, potential difficult expanding our customer base or securing new orders from existing customers, potentially costly research and development activities, liquidity and the availability of additional capital when needed, weaknesses of our internal controls, competition in the digital intelligence market, PRC governmental policies relating to media, software, big data, the internet, internet content providers and online advertising, and general economic and business conditions. Further information regarding these and other risks is included in Gridsum's annual report on Form 20-F and other reports filed with, or furnished to, the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and Gridsum undertakes no duty to update such information except as required under applicable law.

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