BEIJING, Nov. 8, 2017 /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 that Gridsum, in cooperation with Tencent and the PRC People's Court Press, launched the "Faxin Wei Su" Platform ("the Platform"), a litigation service on WeChat's micro application platform, on November 7, 2017.
The Platform integrates Faxin, Gridsum's Chinese legal information platform which was jointly developed by Gridsum and the PRC People's Court Press as a part of Gridsum's broader legal solutions suite, with Tencent's WeChat app, China's largest social media and messaging platform, to provide the world's first integrated online litigation and remote trial handling service.
Gridsum, leveraging its unparalleled capabilities in big data, combines the expansive reach and user interface of WeChat with Faxin's extensive legal knowledgebase. The Platform provides both the courts and litigants with a fast and secure channel to match similar cases, make case status inquiries, submit files, and set appointments during the litigation process. All parties can join a trial remotely through the Platform and produce and question evidence throughout the process. All documents, including trial records, settlement agreements and other related files can also be accessed online after the trial is over. The Platform's diversified dispute resolution system provides efficient and flexible tools for remote trials and should help ease congestion in a highly crowded court system.
Gridsum, Tencent and the PRC People's Court Press will continue to work closely in actively exploring new technologies, setting up Smart Court Laboratories, and managing the implementation and operation of the platform.
Mr. Guosheng Qi, Chief Executive Officer of Gridsum, commented, "I am excited to have the opportunity to work jointly with Tencent and the PRC People's Court Press to launch the Platform. By integrating Faxin's data resources and our big data and extensive artificial intelligence capabilities with Tencent's WeChat app, the Platform will help China's judicial system migrate towards a 'Smart Court' initiative and greatly benefit prosecutors, law firms and others within the judicial system. We remain committed to helping China as it reforms its judicial process and working to promote and develop new technology like this platform."
Faxin Wei Su forms part of Gridsum's broader and comprehensive suite of legal solutions targeting courts, prosecutors, law firms and others within the judicial system. The rollout of Gridsum's legal services product suite is accelerating within China's court system. This development further highlights the Company's expectations for solid triple-digit growth in revenues from its legal suite in 2017.
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, 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.
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. Among other things, quotations from management in this announcement as well as Gridsum's strategic and operational plans contain forward-looking statements. Gridsum may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Gridsum's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: unexpected difficulties in Gridsum's pursuit of its goals and strategies; the unexpected developments, including slow growth, in the digital intelligence market; reduced demand for, and market acceptance of, Gridsum's solutions; difficulties keeping and strengthening relationships with customers; potentially costly research and development activities; competitions 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 in the regions where Gridsum provides solutions and services. Further information regarding these and other risks is included in Gridsum's reports filed with, or furnished to, the Securities and Exchange Commission. All information provided in this press release and in the attachments 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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SOURCE Gridsum Holding Inc.