It’s a very rewarding trading day for investors in Cleantech Solutions International Inc (NASDAQ:CLNT) with shares up over 100%, making the stock Wall Street’s bull of the day. The reason? The company announced that its wholly-owned subsidiary, Sharing Economy Investment Limited (SEI), has entered into an exclusivity agreement with Inspirit Studio, regarding a potential acquisition by SEI of not less than 51% of Inspirit Studio.
Inspirit Studio develops and runs a sharing economy mobile platform called Anyway, which allows people to provide courier delivery services during their commuting times. Anyway connects senders and freelance couriers who are willing to deliver parcels/letters for senders in return for income. It is a low cost and fast delivery solution which allows freelance couriers to earn income by sharing their journeys. “Anyway resolves problems that the current courier services have,” said Kurt Tam, CEO of Inspirit Studio. “With Anyway, senders can get speedy responses to contact with our freelance couriers who are in close proximity to the senders. There is no limitation on service area and business hours. With a five-month pilot program in Hong Kong, we have signed up over 2,000 freelance couriers, with over successful 6,000 transactions.”
“Anyway is a true sharing solution that can also bridge with many sharing economy platforms that we are developing,” said Parkson Yip, COO of Cleantech Solutions. “We are excited to work with Anyway to further fine tune their solution and integrate with other sharing economy platforms. Peer-to-peer courier services can play a big role in communities where we often want helpers to run errands, or simply bring items home from other locations, without taking the extra time out of our schedules. We look forward to making peer-to-peer courier services available globally.”
According to iimediaResearch, the number of users participating in the peer-to-peer delivery sharing market in China has grown from 124 million in 2014 to 231 million in 2016, and experts expect it to grow to 353 million by 2018. Approximately 1.4 billion transactions were recorded in the first quarter of 2017.
Cleantech Solutions International, Inc. engages in manufacturing of metal components and assemblies used in clean technology, manufacturing industries, textile dyeing, and finishing machines. It operates through the following segments: Dyeing and Finishing Equipment; Forged Rolled Rings and Related Components, and Petroleum and Chemical Equipment. The Dyeing and Finishing Equipment segment involves in the manufacture and sell of textile dyeing and finishing machines. The Forged Rolled Rings and Related Components segment includes manufacture and sell of precision forged rolled rings, shafts, flanges, and forged components for the energy industry including wind power industries. The Petroleum and Chemical Equipment segment offers producing and selling of coal chemical equipment, formaldehyde plant, and downstream products.