Sharing Economic International Inc., i.E. A clothier, manufacturer, and distributor of finishing and dyeing machinery to the textile enterprise has introduced the monetary outcomes for the full 12 months of 2018.
“In 2018, our legacy dyeing and finishing business persisted in facing numerous demanding situations, including hard monetary conditions, growing raw substances costs, and compelled closures by using the Chinese government, which adversely impacted our financial results for the 12 months. We additionally recorded $8.6 million in impairment losses associated with patent use rights and the disposition of manufacturing equipment together with an $8.Nine million loss on our sun farm fairness method funding following the Chinese authorities’ halt on new sun farm installations and decreased subsidies for sun farms already underneath production.”
commented the Chief Executive Officer and chairman of SEII, Jianhua Wu. “Given the challenges going through our current manufacturing operations, we hold to look for new increase possibilities for the Company. In 2018, we installed new sharing economy groups in peer-to-peer errand services, coworking, and 3D virtual tours, and are making exact development in growing our online condominium sharing business in Asia.”
The Vice President at SEII, Parkson Yip stated, “While the development of our sharing economy businesses is depending on extra capital to fund their growth, we made remarkable strides over the past year. In 2018 we launched BuddiGo, our sharing platform that offers on-demand transport of gadgets together with programs, flowers, desserts, and food transport via ‘friends’ who can spare idle time to run errands in the Hong Kong market. During the yr we had over 1,2 hundred individuals officially registered as sell-aspect friends, and that they completed over 500 delivery orders. Meanwhile,
3D Discovery generated over $0.2 million in sales in 2018. It kept its work on Autocar. This cell app allows customers to create an interactive digital excursion of a physical space by using a mobile telephone camera. Finally, through our settlement with ECrent, we retain our prelaunch sports for our peer-to-peer apartment sharing financial system in Asia. We remain optimistic about the future of this commercial enterprise and are hopeful it’ll make a meaningful contribution to our top line in 2019.”
