Questions? +1 (202) 540-8337 Login
Trusted News Since 1995
A service for beauty industry professionals · Tuesday, October 16, 2018 · 465,235,744 Articles · 3+ Million Readers

Value Exchange International, Inc. Subsidiary Signs Point of Sale Systems and Support Services Contract with the Largest Health and Beauty Retailer in China

HONG KONG, Feb. 20, 2018 (GLOBE NEWSWIRE) -- Value Exchange International, Inc. (OTCQB:VEII) (“VEII”), a retail technology and computer systems services provider, announced today that Value Exchange Int’l (Shanghai) Limited, a wholly owned subsidiary of VEII, (“VEII Sub”) signed a January 24, 2018 stores equipment support agreement (“Agreement”) with the largest health care and beauty retailer (“Retailer”) in People’s Republic of China (“China”). Under the Agreement, the Retailer has contracted for site and preventive maintenance and support for computer and point of sale systems (“Systems”) as well as new store and store renovation install and migration services for Systems from the VEII Sub. The Agreement is non-exclusive, covers Retailer’s stores in the northern and eastern region of China and runs through December 2019.

Gross revenue and net profit potential, if any, as well as the full extent of services by VEII Sub under the Agreement are uncertain at this time due to lack of sufficient operational experience as a service provider under the Agreement. The Company anticipates reporting initial financial results and projected financial results for the VEII Sub work under the Agreement with the announcement of the quarterly consolidated financial results for VEII’s fiscal quarter ending March 31, 2018. Actual extent of services and financial results of the services may vary from any projected or anticipated scope of services and related financial results.

“These new services contract reflect progress in our efforts to grow VEII to the next level of development and to establish a public company capable of enhancing shareholder value and liquidity. Our goal is to reach sustained profitability and steady growth in core business segments through new business from new and existing customers as well as from expansion in new markets,” said Kenneth Tan, Value Exchange’s Chief Executive Officer. “This new work, which is in part a continuation of previous services for the same end user, attest to the value and competency of our services,” Mr. Tan added.

INVESTOR/MEDIA CONTACT:
                    Matthew Mecke, Value Exchange IR Director
                    ir(@)value-exch.com

/EIN News/ -- Primary Logo

Powered by EIN News