ChinaNet & Tencent Partner to Host Charity Foundation Event
October 13, 2017 --
BEIJING, Oct. 13, 2017 (GLOBE NEWSWIRE) -- ChinaNet Online Holdings, Inc. (Nasdaq:CNET) ("ChinaNet" or the "Company"), an integrated digital advertising, precision marketing, data-analysis and management services platform, today announced an update on its previously announced charity foundation event in partnership with Tencent.
The event hosted by ChinaNet, the China Welfare Foundation, and Tencent started on September 7, 2017 and raised a total of 3.16 million RMB in three days. The charity promotes entrepreneurship and support for college students in creating new business leading to new employment or entrepreneurship opportunities for millions. At the same time, the event helps educate students on the concept of omnichannel marketing supported by CloudX, a useful tool to help promote their entrepreneurships or increase marketing efficiencies in future employment opportunities. This gives ChinaNet access to potential users with education to help them understand the reality of entrepreneurships and their future employment through the perspectives of digital advertising and marketing.
This will be the third inaugural Tencent Charity Foundation and the first year that ChinaNet and the China Welfare Fund have partnered to create entrepreneurial activities. Chinese university graduates in 2017 reached a record high of 7.6 million people, an increase of 1.6 million over the previous year. The record number of new graduates has led to a shortage in employment opportunities. The foundation will help graduates seek employment as well as provide funding for new businesses. In the past few years, ChinaNet has been working with the China Welfare Foundation which has led to the formation of the Quanzhou and Qinghai College Entrepreneurship Design Competition and the China University Students Venture Fund.
The amount donated for the event will be returned to the donors in full by ChinaNet in the form of coupons. Coupons can be used on all platforms of ChinaNet, including 28.com, liansuo.com, Zhifuwang.cn, SuperHarbor and ChinaNet Education. Businesses and entrepreneurs who donated had access to various services and free training sessions provided by ChinaNet. One winner will receive the Chinese College Students Employment Support Unit medal awarded by the China Welfare Foundation.
“ChinaNet is continuously involved in social responsibility events and has been focusing on helping colleges students prepare for their careers or their future entrepreneurship,” said by Mr. Handong Cheng, Chairman and CEO of ChinaNet “Participating in the Tencent event will further enhance our sponsorship of college students and future cooperation on marketing products and analytical tools based on WeChat with Tencent. This is an exciting trial experience with Tencent and upon its success, we hope to discover future opportunities together.”
About ChinaNet Online Holdings, Inc.
ChinaNet Online Holdings, a parent company of ChinaNet Online Media Group Ltd., incorporated in the BVI (ChinaNet), is an integrated online advertising, precision marketing and data-analysis and management services platform. ChinaNet provides prescriptive analysis for its clients to improve business outcomes and to create more efficient enterprises. The Company leverages an optimization framework, provided by its comprehensive data-analysis infrastructure, to blend data, mathematical, and computational sciences into an outcome management platform for which it monetizes on a per client basis. ChinaNet uniquely optimizes and prescribes its clients decision making processes based on its proprietary ecosystem. For more information, visit www.chinanet-online.com.
Safe Harbor This release contains certain "forward-looking statements" relating to the business of ChinaNet Online Holdings, Inc., which can be identified by the use of forward-looking terminology such as "believes," "expects," "anticipates," "estimates" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including business uncertainties relating to government regulation of our industry, market demand, reliance on key personnel, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. These forward-looking statements are based on ChinaNet's current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting ChinaNet will be those anticipated by ChinaNet. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the Company) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by such forward-looking statements. ChinaNet undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.