LAS VEGAS, Dec. 19, 2017 /PRNewswire/ — Remark Holdings, Inc. (NASDAQ: MARK), a global technology company focused on artificial intelligence, announced that the early success of its first agreement to provide quality customers to Bank of China, thereby reducing loan defaults, has led to a second agreement to provide the same service for a new consumer loan product being launched by the bank. The new contract is expected to generate more than $4 million of revenue for Remark during 2018, an amount that is incremental to the revenue guidance previously provided by the company.
“This deal, in addition to our agreement announced last week with China ShenHua Energy Company, China’s largest energy company, which represented the first step toward a larger partnership forecasted to initially generate several millions of dollars of revenue, validate the breadth and depth of our KanKan Artificial Intelligence platform,” stated Kai-Shing Tao, Chairman and CEO of Remark Holdings. “The deals also show the continued ability of our platform to provide monetization opportunities that put us in a favorable position to exceed revenue targets we mentioned during our last earnings call.”
A bout Remark Holdings, Inc.
Remark Holdings, Inc. (NASDAQ: MARK) primarily focuses on the development and deployment of artificial-intelligence-based solutions for businesses and software developers in many industries. Additionally, the company owns and operates digital media properties that deliver relevant, dynamic content. The company is headquartered in Las Vegas, Nevada, with additional operations in Los Angeles, California and in Beijing, Shanghai, Chengdu and Hangzhou, China. For more information, please visit the company’s website at www.remarkholdings.com.
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Douglas Osrow, CFO
Remark Holdings, Inc.
702-701-9514, ext. 3025