Huishoubao Announces Its 2019 Strategy to Capture More Opportunities in Global Secondhand Smartphone Market Together with China's Manufacturers and Foreign Telecom Carriers

SHENZHEN,China,Feb. 1,2019 -- Huishoubao Tech Ltd. ("Huishoubao" or "the Company"),China's leading secondhand smartphone service provider,today announced its 2019 strategy to devote more resources in overseas secondhand smartphone market. The Company received strategic investment from e-commerce giant Alibaba in its C-1 series funding closed last year and has integrated China's major online resources in electronics recycling with Alibaba's support.

Huishoubao will expand its presence in Southeast Asia,North America and European countries in 2019.

In 2019,Huishoubao will expand its presence in Southeast Asia,North America and European countries by cooperating with China's phone manufacturers and local carriers. The Company has been providing smartphone buy-back and trade-in services in Jakarta,Indonesia and Moscow,Russia since last year. The operation received positive feedback in local markets,drawing attention from major carriers in Western countries. The Company has reached preliminary cooperation agreements with several overseas carriers.

Headquartered in Shenzhen,the world's largest mobile phone supply chain hub,and close to Hong Kong,the pivotal port of international trade,Huishoubao is able to complete its ecosystem incorporating smartphone recycling,remarketing,repair and leasing services. The Company has accumulated extensive experience and competitive advantages in secondhand smartphone inspection and AI pricing through providing all-around smartphone aftermarket services,which attract carriers in Europe and Southeast Asia to cooperate.

Increasing attention of China's phone manufacturers on foreign markets is another reason driving Huishoubao to devote more globally. In the past,the trade-in services provided by Huishoubao directly drive the sales volume of vivo,OPPO,Xiaomi and Huawei brands in China's smartphone market. China's phone manufacturers now attach greater importance to the overseas development. The Company is working with several key players on overseas strategies and specific partnership plan.

Mr. HE Fan,CEO of Huishoubao said,"Overseas business is our key focus in 2019 and we will allocate more resources to capture opportunities globally. We are positive about the cooperation with China's phone manufacturers and foreign carriers. The partnership will definitely help us penetrate into local markets and speed up the circulation and disposal efficiency of secondhand smartphones worldwide,upgrading and restructuring global secondhand smartphone industry."

About Huishoubao Tech Ltd.

Established in 2014,Huishoubao Tech is a leading secondhand smartphone service provider in China,providing all-around aftermarket services including recycling,repair and leasing,able to penetrate into every part of the consumer electronics lifecycle. Huishoubao's registered brand Cola Goods is China's first secondhand smartphone brand and exclusive cooperative partner of Taobao.com in secondhand smartphone category.

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