Remark Holdings Partnering with China ShenHua Energy Company

Tailwinds’ Take: an incremental positive that moves the needle towards 2018 guidance, the big news is a ShenHua partnership, since it’s an SOE, is a partnership with the Government of China. 

LAS VEGASDec. 13, 2017 /PRNewswire/ — Remark Holdings, Inc. (NASDAQ: MARK), a global technology company focused on artificial intelligence, announced today that China ShenHua Energy Company has selected KanKan as its artificial intelligence technology partner in a project to enhance ShenHua Energy’s worker management and improve mining and construction safety. The project is expected to result in significant improvements in production efficiency and worker safety, while simultaneously reducing human resource management costs and costs resulting from safety-related incidents. ShenHua Energy will use KanKan’s facial-recognition, gesture-recognition and tracking capabilities to accomplish the worker safety and management improvements, while KanKan’s artificial intelligence data platform will help ShenHua improve production efficiency. The partnership represents a foothold for KanKan’s AI technologies in China’s energy space, which is one of the largest energy markets in the world.

“We are thrilled that another major company has recognized the significant benefits of working with our technology,” stated Kai-Shing Tao, the Chairman and CEO of Remark Holdings. “This agreement only represents a first step for us in making our KanKan AI technology a widely-used asset in this sizable market.”

China Shenhua Energy Company Limited, also known as Shenhua Energy, is a state-owned enterprise and a subsidiary of Shenhua Group.  The company, which is the largest coal mining enterprise in the world, engages in the production and sale of coal in China, and it operates coal-based power plants that generate electricity which it then sells to provincial and regional electric companies in China. In addition to mining and power-generation operations, ShenHua Energy also operates an integrated railway network and a seaport that are primarily used to transport its coal.

About 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 BeijingShanghaiChengdu and Hangzhou, China.  For more information, please visit the company’s website at www.remarkholdings.com.

Company Contact:
Douglas Osrow, CFO
Remark Holdings, Inc.
dosrow@remarkholdings.com 
702-701-9514 ext. 3025

Investor Relations Contact:
Matt Glover or Tom Colton
Liolios Group, Inc.
949-574-3860
MARK@liolios.com

SOURCE Remark Holdings, Inc.

Related Links

http://www.remarkholdings.com

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2 COMMENTS

  1. wall st seems unimpressed while VERI is closing in on 24 a share also is the executive team just a ceo and a cfo?(thats all that is listed on website)
    and the fact that the ceo stated he is the sales force is incomprehensible

    • Perhaps he was referring more to the fact that he closes the deals?

      I understand your concerns about the CFO selling…not much I more I can say about that.

      However, if you’re concerned about the cash burn, you’re very small minded. Name a big time success that didn’t lose money at first. AMZN? GOOG? TSLA? The list is endless. The question is, can they grow the business and become a profitable enterprise?

      VERI is doing great. Congrats if you own that. Over time, however, I believe MARK will far surpass them.

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