ZW Data Action Technologies Inc. Announces Strategic Cooperation with Nanyue Health

BEIJING, Aug. 10, 2022 (GLOBE NEWSWIRE) -- ZW Data Action Technologies, Inc. (Nasdaq: CNET) ("ZW Data" or the "Company"), an integrated online advertising, precision marketing, data analytics, and other value-added services company, today announced that it entered into a letter of intent with Nanyue Health, a digital medicine and health platform owned by Guangdong Nanyue Pharmaceutical Co, Ltd., (“Nanyue”), pursuant to which the parties shall form a strategic partnership to jointly conduct marketing, share resources, jointly operate traffic and cooperate on other aspects of the Smart Medicine Cabinet Machine and Chan Li Chai Health Project (the “Project”).

Established in Macau in 1981, Nanyue is a leading enterprise of Guangdong Province in Macau and was state-controlled by the State-owned Assets Supervision and Administration Commission of Guangdong Provincial People's Government and Guangdong Province Property State-owned Holdings in 2009. Nanyue Health is an ecological platform project jointly initiated by Guangdong Nanyue Pharmaceutical, a subsidiary of Nanyue, which is dedicated to building a new generation of digital ecological platform for chronic disease health management and providing services and values for the public in preventive care, health education, health management and health interventions. Founded in 1600 AD, Chan Li Chai is a well-known time-honored brand in the national Chinese medicine industry with a long-standing brand reputation. More information please get in the website: http://www.nanyue6688.com/.

Pursuant to the letter of intent, the cooperation with Nanyue Health will be performed in two phases. ZW Data will provide the services which include market expansion and on-off line self-service machine smart service and Blockchain Technology in two phases. The Phase One includes business cooperation, sales of the smart medicine cabinet machines, and establishment of the operation team of Chan Li Chai Health Project for the offline market expansion. In addition, the online brand promotion plan will be conducted via multiple business activities to promote Nanyue Health’s brand image. For Phase Two, the two parties will have technology cooperation on the platform of “Online Mall Service + Offline Smart Health Service Station + Blockchain Technology”, including private domain traffic diversion, the establishment of operation and marketing service team, and expansion of private domain traffic service.