ZW Data Action Technologies Announces Strategic Partnership with Digital Life to Develop Franchise AI Model

BEIJING, Dec. 05, 2023 (GLOBE NEWSWIRE) -- ZW Data Action Technologies Inc. (Nasdaq: CNET) (the "Company"), an integrated online advertising, precision marketing, data analytics and other value-added services provider serving enterprise clients, today announced its strategic partnership with Digital Life (Guangdong Hengqin) Technology Co., Ltd. ("Digital Life"), pursuant to which the parities will work together on developing a specialized AI model tailored for the franchise industry. The goal is to amplify digital marketing capabilities by leveraging AI-driven methodologies.

The collaboration's cornerstone is the integration and analysis of diverse key data types to build a custom AI model designed for the franchise sector. By combining ZW Data's extensive 20+ years of data expertise and resources in the franchise industry with Digital Life's AI technologies, the partnership aims to develop a transformative tool. The utilization of sales data, customer data, supply chain information, market research, marketing campaign feedback, financial data, operational data, and online and mobile interaction data by both parties will enhance the model's accuracy and applicability.

Digital Life has achieved significant accomplishments in the AI field, establishing collaborations with the Hong Kong Science and Technology Bureau, China National Supercomputing Center, Macau University of Science and Technology, Sun Yat-sen University, and Jinan University. Leveraging its independently developed XFile LLM large language model framework and XID digital human-driven model technology, we believe Digital Life will play a crucial role in building the AI model for the franchise industry. The collaboration aims for comprehensive coverage, spanning precise market analysis to personalized marketing strategies.

The initial test version of the first application tool is planned for release in the first quarter of 2024, signifying the first milestone of this joint project. Building on the AI model for the franchise industry, the Company expects to develop a series of efficient marketing tools, including content creation services and AI digital humans, thereby enhancing efficiency and accuracy in content production, business decision-making, and post-sale management within the Company. Empowered by AI, the Company can provide clients with improved, personalized marketing creative directions and implementation plans through the comprehensive analysis and integration of massive data, scenarios, and content. Furthermore, by automating processes through machines and algorithms, ZW Data aims to optimize online and offline customer service, marketing, sales, and presentation workflows. This technological advancement is anticipated to elevate overall marketing service levels, reduce sales personnel, and lower related labor costs, and management and operational pressures.

"Our partnership aims to introduce groundbreaking AI marketing tools to the franchise industry, improving marketing efficiency and providing clients with more personalized and precise marketing experiences. We view the integration of AI model in the franchise industry as a technological breakthrough and a key step in driving the digital transformation of the franchise industry. The collaboration between ZW Data and Digital Life opens new market opportunities, propelling the digital transformation of the franchise sector and energizing the growth of SMEs," commented Handong Cheng, Chairman and Chief Executive Officer of ZW Data.

About ZW Data Action Technologies Inc.

Established in 2003 and headquartered in Beijing, China, ZW Data Action Technologies Inc. (the “Company”) offers online advertising, precision marketing, data analytics and other value-added services for enterprise clients. Leveraging its fully integrated services platform, proprietary database, and cutting-edge algorithms, the Company delivers customized, result-driven business solutions for small and medium-sized enterprise clients in China. The Company also develops blockchain enabled web/mobile applications and software solutions for clients. More information about the Company can be found at: .

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the business of ZW Data Action Technologies 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 ZW Data Action Technologies Inc.’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting ZW Data Action Technologies Inc. will be those anticipated by ZW Data Action Technologies Inc. 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. ZW Data Action Technologies Inc. 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.

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Sherry Zheng

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