BEIJING, Jan. 25, 2021 /PRNewswire/ -- Ucommune International Ltd. (NASDAQ: UK) ("Ucommune" or the "Company"), a leading agile office space manager and provider in China, today announced an additional investment in Beijing Xiyu Information Technology Co., Ltd. ("Xiyu Information"), a subsidiary of the Company and provider of SaaS services and IOT solutions, increasing its ownership in Xiyu Information from 51.0% to 53.2%. The Company decided to increase its investment in Xiyu Information to meet the growing market demand for SaaS services and IOT solutions in China.
Xiyu Information was founded on March 20, 2017. In December 2019, Xiyu Information developed DOMES, a SaaS management platform providing office buildings and industrial parks with SaaS services for lease contract management, CRM promotion management, IOT intelligent device management, as well as tenant and member operations management. Through these SaaS services, DOMES enables property developers and other participants along the real estate industry value chain to enhance their property values. DOMES' clients include several major real estate companies in China, including Beijing Jingying Menggu Changying Industrial Park and Shanghai Dashu Shared Office.
Dr. Daqing Mao, Founder of Ucommune, commented, "We believe that Xiyu Information's SaaS services and IOT solutions will greatly benefit the digital transformation in asset management and services of China's existing and gradually increasing commercial space market. Moreover, we believe Xiyu Information will provide our members with more value-added services and convenience in their business operations and office management going forward."
About Ucommune International Ltd.
Ucommune is China's leading agile office space manager and provider. Founded in 2015, Ucommune has created a large-scale intelligent agile office ecosystem covering economically vibrant regions throughout China to empower its members with flexible and cost-efficient office space solutions. Ucommune's various offline agile office space services include self-operated models, such as U Space, U Studio, and U Design, as well as asset-light models, such as U Brand and U Partner. By utilizing its expertise in the real estate and retail industries, Ucommune operates its agile office spaces with high efficiency and engages in the urban transformation of older and under-utilized buildings to redefine commercial real estate in China.
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