Global Internet of People, Inc. Entered into Service Contracts Worth RMB8 Million With Beijing Taxation Star Technology Co. Ltd.

Rhea-AI Summary

Global Internet of People, Inc. (SDH) has entered into service contracts worth RMB8 million (approximately $1.22 million) with Beijing Taxation Star Technology Co. Ltd. in April 2021. The contracts include a RMB5 million fee for tailor-designed "Platinum Membership" services and RMB3 million for additional enterprise services such as startup incubation and project promotion. CEO Haiping Hu expressed optimism about the partnership, aiming for synergy and mutual client expansion. SDH operates a knowledge-sharing platform with services in multiple cities across China.

Positive

• Contracts worth RMB8 million (approximately $1.22 million) enhance revenue opportunities.
• Tailor-designed services meet specific client needs, fostering potential long-term partnerships.

Negative

• None.

Beijing, China, April 15, 2021 (GLOBE NEWSWIRE) -- Global Internet of People, Inc. (“SDH” or the “Company”) (NASDAQ: SDH), an operator of a knowledge sharing and enterprise service platform via mobile application and through local centers in China, today announced that its subsidiary, Global Mentor Board (Beijing) Information Technology Co., Ltd (“GMB”), entered into service contracts worth RMB8 million (approximately $1.22 million) with Beijing Taxation Star Technology Co. Ltd. (“Taxation Star”) in April 2021.

Pursuant to the service contracts, SDH will provide tailor-designed “Platinum Membership” services to Taxation Star for a fee of RMB5 million (approximately $764,000) based on the latter’s business needs.  Additionally, the Company will also provide Taxation Star with tailor-designed enterprise services including startup incubation, event promotion, project roadshow, and mobile application promotion services for a fee of RMB 3 million (approximately $458,400).

Mr. Haiping Hu, CEO and Chairman of SDH commented: “We are delighted to announce the signing of more service contracts with our esteemed corporate client. SDH looks forward to working with Taxation Star to realize synergies and expand our respective client base, which will be a win-win for both SDH and Taxation Star.”

Beijing Taxation Star Technology Co. Ltd.

Beijing Taxation Star Technology Co. Ltd. offers online taxation management services for taxation professionals and enterprises in China. Its online platform publishes national and provincial tax-related laws and regulations, and offers services including tutoring on tax-related policies and taxation practices, tax consulting and expert advice, and contract review.

About Global Internet of People, Inc.

Headquartered in Beijing and Shanghai, Global Internet of People, Inc. operates an online knowledge sharing and enterprise service platform, both online, via a mobile application “Shidonghui App” (the “APP”), and offline, through local offices in Beijing, Shanghai and Hangzhou, as well as 51 local centers operated by some of the Company’s members in 35 cities throughout the PRC. The main services SDH offers to App users are (1) Questions and Answers Sessions and (2) streaming of audio and video courses and programs. The offline services SDH offers to its members are study tours and forums. For more information about the Company, please visit: www.sdh365.com.

Forward-looking statement

The statements in this press release regarding the Company's future expectations, plans and prospects constitute forward-looking statements as defined by Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about plans, goals, objectives, strategies, future events, expected results, assumptions and any other factual statements that have not occurred. Any words that refer to "may", "will", "want", "should", "believe", "expect", "expect", "estimate", "estimate" or similar non-factual words, shall be regarded as forward-looking statements. Due to various factors, the actual results may differ materially from the historical results or the contents expressed in these forward-looking statements. These factors include, but are not limited to, the company's strategic objectives, the company's future plans, market demand and user acceptance of the company's products or services, technological updates, economic trends, the company's reputation and brand, the impact of industry competition and bidding, relevant policies and regulations, the ups and downs of China's macroeconomic conditions, the international market conditions served by the company, and the related risks and assumptions disclosed in the prospectus. In view of the above and other related reasons, we advise investors not to blindly rely on these forward-looking statements, and we urge investors to visit the SEC website to consult the company's relevant documents for other factors that may affect the company's future operating results. The company is under no obligation to make public amendments to changes in these forward-looking statements due to specific events or reasons after the declaration of these documents.

For more information, please contact:

The Company:
IR Department
Email: IR@sdh365.com

Investor Relations:
Janice Wang   
EverGreen Consulting Inc.
Email: IR@changqingconsulting.com
Phone: +1 571-464-9470 (from U.S.)                                                                                             
+86 13811768559 (from China)

FAQ

What are the details of SDH's recent contracts with Taxation Star?

SDH signed contracts worth RMB8 million with Taxation Star, including RMB5 million for 'Platinum Membership' services and RMB3 million for enterprise services.

How much revenue is expected from SDH's contracts with Taxation Star?

The total revenue from the contracts with Taxation Star is approximately $1.22 million.

What services will SDH provide to Taxation Star?

SDH will provide tailor-designed 'Platinum Membership' services and additional enterprise services, including startup incubation and event promotion.

What is the potential impact of the contracts on SDH's business?

The contracts are expected to enhance SDH's revenue and client base through tailored services.