BEIJING, Jan. 5, 2023 (GLOBE NEWSWIRE) — ZW Data Action Technologies, Inc. (Nasdaq: CNET) (“ZW Data” or the “Company”), an integrated online advertising, precision marketing, analytics data and other value-added services company, today announced a strategic cooperation with Superwin Technology Pte. Ltd. (“Superwin”). Both parties intend to jointly establish a Web3.0 application service platform (“Platform”), through which the Company expects to provide core computing and blockchain services for Web3.0 application providers. The Company expects to bring business value to business users and achieve efficiency in the use of computing power resources, integrated management and flexible scheduling through the Platform.

Singapore-based Superwin operates data centers, computing and mining facilities globally, providing full compliance services to modern Blockchain Miners and other regional cloud service providers in Singapore. Superwin collaborates with top-tier and regional leading data center operators, and also works with the world’s leading data center solution providers such as Inventec, Quanta and Huawei. It serves customers from Singapore, the United States, Canada, Hong Kong (region), Taiwan (region), Germany, Japan, South Korea, Malaysia, and other countries or regions. You can obtain more information at: http://www.superwintech .com/empresa.

The two parties hope to establish the Platform with cost-effective and low-cost computing power and blockchain services for Web3.0 application providers. Superwin will provide the computing power infrastructure, while the Company will provide the technology to establish the Platform and blockchain services, and will introduce Web3.0 applications in various scenarios on the Platform. Through the implementation of smart contracts, we believe that the platform provides quick access services to partners with Web3.0 business needs, allowing them to use computing power resources more flexibly to complete data analysis and business computing tasks, and promote business processes and administration activities. . We anticipate that the Platform will be able to allocate computing power resources based on the needs of Web3.0 applications to maximize the use of computing power resources and support Web3.0 application scenarios across various industries.

“We are excited about the strategic cooperation with Superwin. The rapid development of the Web3.0 industry is supported by the continuous development of computing power. Currently, the development of Web3.0 applications has reached the commercialization stage. We plan to seize the opportunities in the rapidly growing Web 3.0 industry, and believe in the great potential for improvement in the efficiency of computing power usage. Our goal is to reduce costs, increase efficiencies, and support increased demand for computing power with existing hardware scale for Web3.0 application providers through the Platform. We believe that our approach to lowering the cost of computing power for Web3.0 applications will be significant for our customers and the development of the Web3.0 industry. In the future, we will continue to explore business opportunities in high-growth markets with great potential to increase our market presence and profitability,” said Handong Cheng, President and CEO of ZW Data.

About ZW Data Action Technologies Inc.

Established in 2003 and headquartered in Beijing, China, ZW Data Action Technologies Inc. (the “Company”) provides online advertising, precision marketing, data analytics, and other value-added services to enterprise clients. Leveraging its fully integrated service platform, proprietary database, and cutting-edge algorithms, ZW Data Action Technologies provides customized, results-oriented business solutions for small and medium-sized business clients in China. The company also develops blockchain and AI-enabled web/mobile applications and software solutions for the general public, enterprise clients, and government agencies. More information about the Company can be found at: http://www.zdat.com/.

Safe Harbor Statement

This release contains certain “forward-looking statements” relating to the business of ZW Data Action Technologies Inc., which can be identified by the use of forward-looking terminology such as “believes”, “expects”, “anticipates”, “estimates” or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including business uncertainties related to government regulation of our industry, market demand, reliance on key personnel, future capital requirements, competition in general, and other factors that may cause actual results to differ materially from those described herein as anticipated, believed, estimated or expected. Some of these risks and uncertainties are described or will be described in greater detail in our filings with the Securities and Exchange Commission. These forward-looking statements are based on ZW Data Action Technologies Inc.’s current expectations and beliefs regarding future developments and their potential effects on the Company. There can be no guarantee that future developments affecting ZW Data Action Technologies Inc. will be those anticipated by ZW Data Action Technologies Inc. These forward-looking statements involve a number of risks and uncertainties (some of which are beyond the control of the Company). ) or other assumptions that may cause actual results or performance to differ materially from those expressed or implied by such forward-looking statements. ZW Data Action Technologies Inc. does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

For more information, contact:

Sherry Zheng

Weitian Group LLC

Email: shunyu.zheng@weitian-ir.com

Phone: +1 718-213-7386

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