Sharing Economy Entered into MOU with QEV Technologies to Plan for Joint Venture in the development of New Energy Vehicles

HONG KONG,June 8,2022 -- Sharing Economy International Inc. ("SEII") (OTCQB: SEII),announced today that the company has signed an memorandum of understanding with QEV Technologies S.L. ("QEV"),planning to form a joint venture company to develop and market for new energy vehicles running with electric and hydrogen power.

The European Union has proposed to stop the selling of new fossil-fuel cars by 2035,and the demand for environmental new energy vehicles expect to increase.

Under the joint venture plan,QEV will apply their technological expertise in new energy vehicle development,while SEII will develop the markets in Europe,North America and South America. The proposed headquarters of the joint venture is in Barcelona.

QEV Technologies is one of the Pioneers when it comes to electric mobility. Through developing racing cars in WRC,TCR,WTCC and Formula E,QEV brings the innovation and technology opened doors for the company to start development of technology and full vehicles for other automotive companies.

About Sharing Economy International Inc.

Sharing Economy International Inc.,through its affiliated companies,are focused on targeting the technology and global sharing economy markets,by developing online platforms and rental business partnerships that will drive the global development of sharing through economical rental business models. Moreover,the Company will actively pursue blockchain technology in its existing and to-be-acquired business,enabling the general public to realize the beauty of resource sharing. For more information visit www.seii.com

Cautionary Warning Regarding Forward-Looking Statements:

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases,you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of such terms and other comparable terminology. These forward-looking statements include,without limitation,statements about our market opportunity,our strategies,competition,expected activities and expenditures as we pursue our business plan,and the adequacy of our available cash resources. Although we believe that the expectations reflected in any forward-looking statements are reasonable,we cannot guarantee future results,levels of activity,performance or achievements. Actual results may,and probably will,differ materially from the predictions discussed in these forward-looking statements. Changes in the circumstances upon which we base our predictions and/or forward-looking statements could materially affect our actual results. Additional factors that could materially affect these forward-looking statements and/or predictions include,among other things: (1) our ability to raise additional capital to continue our operations; (2) our ability to pay down existing debt; (3) our ability to attract and retain key executive officers and the professional advisors; (4) the effect of the COVID-19 outbreak on our operations; (5) potential litigation with our shareholders,creditors and/or former or current investors; (6) the effect of political instability on our operations; and (7) other factors over which we have little or no control. Any forward-looking statements speak only as of the date on which they are made,and Sharing Economy International does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. Information on Sharing Economy International's website does not constitute a part of this release.

Company Contacts:

Sharing Economy International Inc.

Email: ir@seii.com

+852-31060372

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