BEIJING, Jan. 19, 2018 /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 its "Wei Su" platform, a customized version of its "Faxin Wei Su" platform that provides litigation services on WeChat's micro application platform and was jointly developed by Gridsum and the PRC People's Court Press, has been integrated into the Mobile Smart Court Platform launched by the Beijing Fourth Intermediate People's Court (the "Intermediate Court").
The Mobile Smart Court Platform is a litigation service that leverages the powerful connectivity of WeChat's micro application platform to provide prosecutors, law firms, litigants and others within the judicial system with fast and secure channels to access services that cover the entire litigation process from initial filings and evidence submission to case status inquiries, remote trial handling and the appeals. The Mobile Smart Court Platform will greatly improve trial efficiency over the Intermediate Court's jurisdiction which spans Beijing, Tianjin and Hebei Province.
Leveraging Gridsum's unparalleled capabilities in big data and AI, the "Wei Su" platform allows all parties to join a trial remotely 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 "Wei Su" 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 will continue to work closely with the Intermediate Court to explore new applications of technology and big data as well as jointly implement and operate the Mobile Smart Court Platform.
Mr. Guosheng Qi, Chief Executive Officer of Gridsum, commented, "The integration of our "Wei Su" platform into the Intermediate Court's Mobile Smart Court Platform demonstrates the effectiveness of our overall strategy to build highly scalable products that can be customized and applied to many different situations and scenarios. Following the successful launch of our "Faxin Wei Su" platform in November 2017, we immediately began customizing this platform for the Intermediate Court which has a much larger jurisdiction and will use it across a wider variety of cases. I am confident that this represents another important step in China's judicial system's migration towards a 'Smart Court' initiative that will greatly benefit everyone involved. We remain committed to leveraging our big data and extensive AI capabilities to help China reform its judicial process and will continue to work closely with all parties involved to promote and apply this technology across the judicial ecosystem."
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 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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Mr. Christian Arnell
Mr. Tip Fleming
Phone: +1 917 412 3333
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SOURCE Gridsum Holding Inc.