Corporate Overview And Shareholder Update for Powerbridge Technologies

Rhea-AI Summary

Powerbridge Technologies (NASDAQ: PBTS) announced its ongoing commitment to innovation and expansion in digital solutions, including a focus on AI in education and cryptocurrency. The company has recorded growing revenues, peaking at $32.1 million in 2021, and has made strategic acquisitions of high-growth technology firms in 2023. Powerbridge's offerings encompass SaaS, ePlatforms, and Smart Devices, serving a diverse clientele. The CEO, Stewart Lor, expressed confidence in surpassing a market capitalization of $1 billion in the next 2-3 years, reaffirming the company’s dedication to compliance and corporate governance.

Positive

• Revenue growth observed over five years, reaching $32.1 million in 2021.
• Acquisition of majority stakes in multiple high-growth technology companies in 2023.
• Plans to enhance AI-based educational services utilizing ChatGPT technology.
• Commitment to cryptocurrency and blockchain development as part of future strategies.

Negative

• None.

ZHUHAI, China, March 28, 2023 /PRNewswire/ -- With 25 years of experience, Powerbridge Technologies Co., Ltd. (Nasdaq: PBTS) ("Powerbridge" or the "Company"), is an established provider of a broad spectrum of digital solutions and technology services. The Company's offerings range from SaaS to ePlatforms and to Smart Devices for global trade, education, travel and leisure, and digital assets. Powerbridge's clients span a diverse range of global trade and cross-border participants to retail customers and educators. Since listed on Nasdaq, Powerbridge delved into the sectors of metaverse development, AI based education, and cryptocurrency.

Here is a brief overview of Powerbridge's corporate history:

• 2023: Announced plan to further enhance ChatGPT into education services
• 2023: Acquired majority stake in several high growth technology companies
• 2022: Engaged in M&A for AI and Blockchain technology companies
• 2022: Developed metaverse and NFT solutions for several industries
• 2021: Revealed plans to engage in digital assets for Bitcoin and Ethereum
• 2020: Developed an IoT platform and smart fixtures and equipment
• 2019: Listed on Nasdaq under the ticker symbol "PBTS"
• 2019: Began to provide digital solutions across multiple industries
• 2018: Developed Powerbridge BaaS platform and offerings
• 2016: Provided Powerbridge SaaS platform for cross-border eCommerce
• 2014: Launched Logistics Cloud platform and supply chain solutions
• 2010: Offered cross-border trade and eCommerce platforms
• 2007: Began to provide technology solutions and services for global trade
• 2000: Launched China's first international trade ERP management software
• 1997: The Company was founded as a software development company

Overall, Powerbridge has a history of innovation and has continued to evolve and adapt to changes in the newest technology and services across multiple industries.

Here is a summary of the Company's revenues over the past five years:

• 2021: $32.1 million
• 2020: $26.6 million
• 2019: $20.1 million
• 2018: $23.1 million
• 2017: $21.6 million

The Company primarily generates revenue through its digital solutions and ePlatforms. These services include:

• Cross-border eCommerce Platform: Allowing businesses to import and export their products and providing services such as compliance and logistics
• Logistics Cloud Platform: Providing supply chain management solutions that help streamline operations, optimize inventory, and improve delivery
• SaaS Solutions: Offering various solutions for international trade and cross-border eCommerce, including data analysis and customer management

Powering New Business Lines

In 2022, the Company expanded its offerings to include metaverse and NFT solutions, demonstrating its continued commitment to staying at the forefront of emerging technologies. In addition, the Company began to explore M&A opportunities in the digital service, AI and Blockchain sectors, which led to the acquisition of majority stakes in several profitable technology companies in 2023.

Looking ahead, Powerbridge has announced plans to further enhance its presence in the education industry by leveraging AI and ChatGPT technologies. The Company also intends to continue its expansion into the digital assets market by engaging in cryptocurrency as part of its overall blockchain development strategy.

Powerbridge is committed to maintaining compliance and corporate governance standards. Stewart Lor, CEO of the Company, an American founder has increased his stake in the Company and assures stakeholders that the Company is unlike some other Chinese companies listed on U.S. exchanges for compliance and corporate governance practices.

With over 20 years of experience, Powerbridge has demonstrated a track record of doing business the right way and growing its business. As the Company looks into the future, Stewart Lor intends to lead and grow Powerbridge into a holding company that operates several leading-edge businesses. He expects the Company's market capitalization to surpass $1 billion within the next two-to-three years.

With its continued dedication to innovation and emerging technologies, Powerbridge is poised for continued success to deliver long-term value to its shareholders.

About Powerbridge Technologies

Powerbridge Technologies Co., Ltd. (Nasdaq: PBTS) is a leading provider of multi-industry technology solutions. The Company offers software and platform applications, IoT platform services and intelligent devices, supply chain platforms and interactive media services, metaverse and digital services, and cryptomining platform services and cryptocurrency asset operations.

Safe Harbor Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may", "will", "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements; specifically, the Company's statements regarding listing on the NASDAQ Capital Market and the IPO are forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For more information, please contact:
Corporate Investor Relations
Powerbridge Technologies Co., Ltd.
Email: ir@powerbridge.com
Website: www.powerbridge.com/ir/

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SOURCE Powerbridge Technologies Co., Ltd.

FAQ

What is Powerbridge Technologies' recent revenue performance?

Powerbridge Technologies reported revenues of $32.1 million in 2021, demonstrating growth from previous years.

What strategic acquisitions has Powerbridge made recently?

In 2023, Powerbridge acquired majority stakes in several high-growth technology companies.

What are Powerbridge's future plans regarding AI and cryptocurrency?

Powerbridge plans to enhance its education services using AI and ChatGPT technologies and expand its involvement in cryptocurrency.

How does Powerbridge ensure compliance and corporate governance?

CEO Stewart Lor assures stakeholders of the company's adherence to compliance and governance standards, distinguishing it from some other Chinese companies listed in the U.S.

What technology solutions does Powerbridge offer?

Powerbridge offers a range of solutions including SaaS, logistics cloud platforms, and digital services for various industries.