LAS VEGAS, Feb. 5, 2018 /PRNewswire/ -- Remark Holdings, Inc. (NASDAQ: MARK), a global technology company focused on providing artificial intelligence ("AI") solutions, announced that after four months of testing, Beijing Hualian Group, one of China's largest retailers, selected KanKan, Remark Holdings' artificial intelligence platform, as its data and AI solution partner. Remark and Beijing Hualian Group will work in partnership to apply KanKan's data and AI solutions to many of Beijing Hualian Group's retail businesses, such as shopping malls, supermarkets, coffee chains and fast food outlets. The strong partnership introduces KanKan's data and AI technology products and services into large retail businesses, and Remark is confident that this agreement will lead to the company securing more deals in the retail space in the future. Remark expects the agreement with Beijing Hualian Group represents a multi-million-dollar revenue opportunity during the next 24 months and beyond.
"We continue to work hard to bring game-changing AI products and services to market as rapidly and successfully as possible," stated Kai-Shing Tao, Chairman and CEO of Remark Holdings. "Our agreement with Beijing Hualian Group is another in a series of recent agreements that we believe demonstrate our success in applying KanKan's advanced data and AI technologies across various industries."
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 Beijing, Shanghai, Chengdu and Hangzhou, China. For more information, please visit the company's website at www.remarkholdings.com.
About Beijing Hualian Group
Beijing Hualian Group is a leading Chinese retailer. The group's main activities include the operation of supermarkets and department stores, as well as the sale of general merchandise, textiles, daily-use products and fresh fruits and vegetables. More information regarding Beijing Hualian Group can be found at http://en.beijing-hualian.com/AboutBHG/index.jhtml.
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Douglas Osrow, CFO
Remark Holdings, Inc.
702-701-9514, ext. 3025
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SOURCE Remark Holdings, Inc.