BEIJING, Jan. 31, 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 it has signed a strategic cooperation framework agreement with Bee® China ("Bee®"), an energy and facility systems consulting and service firm that offers resource efficiency assessment, intelligence and solutions, to jointly develop and implement optimal operation and management strategies in various energy systems, smart campuses and industrial plants.
According to the terms of the strategic cooperation framework agreement, Gridsum and Bee® will leverage each of their competitive strengths to develop Industrial Internet of Things ("IIoT") solutions that promote and facilitate energy conservation, emission reduction, big data provision, cloud and fog computation and automation platforms, and modernize/optimize resource management for China's private and public sectors.
Mr. Guosheng Qi, Chief Executive Officer of Gridsum, commented, "I eagerly look forward to working closely with Bee® on developing IIoT solutions that will leverage our deep experience in cloud-based big-data analytics and extensive AI capabilities. This agreement marks another milestone in our IIoT development. It not only grows our presence in China's IIoT space following our agreement late last year to jointly develop an IIoT cloud platform with Shandong Province and other IIoT engagements, but also demonstrates our effectiveness and strategy to leverage our core technology competence to build highly scalable big data analytics and AI solutions that can be customized and applied in a number of different areas. Both Bee® and Gridsum share similar philosophies and visions which I believe when combined with our respective technology capabilities, will greatly benefit China's drive to conserve energy and reduce emissions."
Bee® (Building energy efficiency) was founded in Austin, Texas in 2009 and is an energy system consulting and service firm that offers energy analyses and solutions based on the most rigorous applications of engineering science and art. Its focus is energy efficiency. Every energy consuming system has an optimum operating range. Bee® strives to detect the most economical balance between efficiency, requirements and reliability. Bee® offers clients on-going technical support through its enterprise platform to help maintain the optimum performance of their energy consuming systems. Performance persistence is as important as the initial identification.
Bee® China advocates data-and-technology-driven full life-cycle energy management by incorporating resource management services throughout a system's entire life-cycle and breaking barriers among stages from planning, design, construction, to operation and maintenance. Moreover, it focuses on integrated management and optimization to achieve optimum and persistent performance and results.
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.
For more information, please visit http://www.gridsum.com/.
Mr. Christian Arnell
Mr. Tip Fleming
Phone: +1 917 412 3333
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SOURCE Gridsum Holding Inc.