UCloudlink to Operate Pet-Tech Business Under New Cayman-Based Structure

UCLOUDLINK, a mobile data traffic sharing marketplace, announced a plan to restructure its pet-tech business under a new Cayman Islands-based holding company. The new structure will focus on developing an AI-powered smart wearable ecosystem for pets and an online interactive platform connecting pets, owners, and communities globally. The platform will integrate various digital services such as voice, video, music, and pet health-related services. This move is expected to enhance UCLOUDLINK's global presence and provide new revenue streams.

UCLOUDLINK GROUP INC. (NASDAQ: UCL), a leading mobile data traffic sharing marketplace, has announced a strategic plan to restructure its pet-tech business under a new operational structure. The company's board of directors approved a plan to establish a Cayman Islands-based holding company, which will be supported by local operating subsidiaries to build a global foundation for an AI-powered smart wearable ecosystem for pets and an online interactive platform.

The new structure aims to connect pets, owners, fans, and communities in real-time across the globe. The platform will integrate various digital services, including voice, video, music, and pet health-related digital services. Given the capital-intensive nature of developing such a platform, the new holding company plans to raise additional capital and bring in investors to accelerate global expansion and drive user base growth.

The company's CEO, Mr. Chaohui Chen, stated, "The establishment of this dedicated operational structure represents a key step towards a digitally integrated future for pets and pet lovers. This initiative will enable us to bring together like-minded partners and resources to bridge the digital divide between people and their pets, ushering in a new era of pet-care with real-time interconnectedness."

The success of this plan hinges on successful capital raises and the execution of key milestones, such as the completion of the New Company formation, announcements of funded investors or financings, and launch milestones for the wearable ecosystem or interactive platform.

For more information, please contact:
UCLOUDLINK GROUP INC.
Daniel Gao
Tel: +852-2180-6111
E-mail: ir@ucloudlink.com

Investor Relations:
Christensen Advisory
Christian Arnell, Managing Director
Tel: +852-2117-0861
E-mail: ucloudlink@christensencomms.com