SOS Announces the Launch of 2nd Batch of Mobile Data centers and Successful Open House Event

Rhea-AI Summary

SOS Limited (NYSE: SOS) announced the launch of the second batch of mobile smart containers, completing phase I of its Super-Computing and Hosting Center in Wisconsin. A total of 16 mobile containers will be operational in phase II, with 4 expected to be online in July 2022. The company hosted a well-attended open house event on June 27, showcasing its capabilities. CEO Yandai Wang expressed optimism about the opportunities presented by the mobile smart containers. The firm leverages AI and blockchain technologies to provide digital solutions across various sectors.

Positive

• Launch of second batch of mobile smart containers signifies progress in Super-Computing and Hosting Center.
• Operational components expected to increase service capabilities with four containers going live in July 2022.
• Well-received public open house event indicates strong community interest and engagement.

Negative

• Forward-looking statements highlight uncertainties in business strategy and market conditions.
• Dependence on local government policies regarding cryptocurrency mining could impact operations.
• Ongoing development in blockchain and supercomputing initiatives carries inherent risks.

QINGDAO, China, June 29, 2022 /PRNewswire/ -- SOS Limited (NYSE: SOS) (the "Company" or "SOS") announced launch of the second batch of mobile smart containers, which marks completion of phase I of its Super-Computing and Hosting Center in Wisconsin. A total of 16 mobile containers are expected to be operational in phase II, 4 of which are expected to be operational in July of this year.

On June 27, the Company conducted an open house event for the public to visit its Wisconsin super-computing center. The event was very well attended and a video recording of the event can be found on the company's website at service.sosyun.com/sos_en/about.html.

Mr. Yandai Wang, CEO and Chairman of SOS, commented, "Mobile smart containers bring new opportunities for us. We had a very successful open house. We appreciate all the participants for their over-whelming response. In the future, there will be more opportunities for interested parties to observe our operations."

About SOS Limited

SOS is a new high-tech company with artificial intelligence and blockchain as its core technologies. Through core technologies such as AI, block technology, satellite communication and big data, the company provides digital technical services for emergency rescue, big data marketing, international trade, digital assets and other industries, and provides customers with one-stop digital overall solutions. For more information, visit www.sosyun.com.

Forward-Looking Statements

Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Federal Securities Act, including but not limited to our expectations of future financial performance, business strategy or business. These statements constitute forecasts, prospects and forward-looking statements and are not performance guarantees. SOS warns that forward-looking statements are subject to many assumptions, risks and uncertainties that will change over time. Forward looking statements may be identified by words such as "may", "can", "should", "will", "estimate", "plan", "project", "forecast", "intend", "expect", "predict", "believe", "seek", "target", "Outlook" or similar words. Specifically, forward-looking statements may include statements related to the following matters of the company:

Ability to implement its business plan;

Changes in SOS product and service market; and

Expansion plans and opportunities.

These forward-looking statements are based on information available as of the date of this press release and our management's current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements.

These risks and uncertainties include, but not are limited to, the risk factors described by SOS in its filings with the Securities and Exchange Commission ("SEC"). These risk factors and those identified elsewhere in this press release, among others, could cause actual results to differ materially from historical performance and include, but are not limited to:

• Local government's policies and regulatory oversight of crypto currency mining operation and our other operations;
• SOS's blockchian and supercomputing, commodity trading and marketing solutions businesses are still under development, with many uncertainties in the future direction and integration of these various business segments;
• Failure to manage the newly launched commodities trading business effectively;
• Loss of key customers in the commodity trading business;
• failure to access a large quantity of power at reasonable costs could significantly increase SOS operating expenses and adversely affect our demand for SOS's mining activities;
• any significant or prolonged failure in the data warehouse facilities and data mining facilities that SOS operates or services it provides, including events beyond its control, would lead to significant costs and disruptions and would reduce the attractiveness of its facilities, harm its business reputation and have a material adverse effect on its results of operation;
• security breaches or alleged security breaches of our data warehouses could disrupt SOS operations and have a material adverse effect on its business, financial condition and results of operation; uncertainty in global supply chain and international shipping and
• other risks and uncertainties indicated in SOS's SEC reports or documents filed or to be filed with the SEC by SOS.

Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and you should not place undue reliance on these forward-looking statements in deciding whether to invest in our securities. We do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

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SOURCE SOS Ltd.

FAQ

What did SOS announce on June 29, 2022?

SOS announced the launch of the second batch of mobile smart containers, completing phase I of its Super-Computing and Hosting Center in Wisconsin.

How many mobile smart containers are expected to be operational in phase II?

A total of 16 mobile containers are expected to be operational in phase II.

What is the significance of the open house event conducted by SOS?

The open house event showcased the capabilities of the super-computing center and was well attended, indicating strong community interest.

What technologies does SOS Limited focus on?

SOS Limited focuses on artificial intelligence and blockchain technologies for providing digital solutions across various industries.

What are the risks mentioned in SOS's forward-looking statements?

Risks include uncertainties in business strategy, dependence on local government policies, and development challenges in blockchain and supercomputing initiatives.