UCLOUDLINK Establishes New Operational Structure for Pet-Tech Business

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UCLOUDLINK GROUP INC. plans to establish a new operational structure for its pet-tech business, incorporating a Cayman Islands-based holding company and local subsidiaries. The new company will focus on building an AI-powered smart wearable ecosystem for pets and a global online interactive platform connecting pets, owners, and communities. The initiative aims to raise additional capital and accelerate global expansion.

UCLOUDLINK GROUP INC. (NASDAQ: UCL), the leading mobile data traffic sharing marketplace, has announced a significant strategic move to enhance its pet-tech business. The company's board of directors approved a plan to establish a new operational structure, involving a Cayman Islands-based holding company and local subsidiaries. This new entity, referred to as the "New Company," will focus on building an AI-powered smart wearable ecosystem for pets and a global online interactive platform connecting pets, owners, and communities.

The initiative aims to raise additional capital to accelerate global expansion and drive user base growth. The New Company will integrate voice, video, music, and pet health-related digital services, creating a comprehensive platform for real-time pet care and community engagement. The plan hinges on successful capital raises, as the development of the platform is described as capital-intensive. Execution risks include forming and funding the New Company, recruiting partners, building the platform, and converting users to a paid ecosystem.

Key milestones to watch for include the completion of the New Company formation, announcements of funded investors or financings, and launch milestones for the wearable ecosystem or interactive platform. Near-term developments on these items will determine whether this structural change meaningfully advances the pet-tech business.

Mr. Chaohui Chen, Director and CEO of UCLOUDLINK, stated, "The establishment of this dedicated operational structure for developing the new global pet online platform 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. We are confident that this initiative will unlock the full potential of the pet-tech business, creating lasting value for its shareholders."

For more information, please contact UCLOUDLINK GROUP INC..

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