EXCLUSIVE: Guardforce AI Secures New Contracts with Top Retail Brands, Boosts Operations

Guardforce AI Co (NASDAQ:GFAI) (NASDAQ:GFAIW) today announced that its wholly owned subsidiary in Mainland China, Beijing Wanjia Security System Limited (“Beijing Wanjia”), has significantly expanded its contracts with two renowned retail clients, each of whom has worked with Beijing Wanjia for over ten years. Guardforce AI also announced that it now serves nearly 20,000 retail stores in the Asia Pacific region.

Both contracts will expand Beijing Wanjia’s business footprint across the retail landscape.

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The first client, a flagship health and beauty brand, has added security alarm system services for all of its approximately 3,900 stores nationwide in China. This increases Beijing Wanjia’s total security alarm system operations to over 12,000 stores across Mainland China, a 50% increase from the end of 2023.

Additionally, the second client, a well-known international coffeehouse chain, has extended security alarm system services to all its stores for two years and agreed to install security alarm systems for nearly 1,000 of its stores nationwide over the next two years.

Lei (Olivia) Wang, Chairwoman and CEO of Guardforce AI, said, “Currently, Beijing Wanjia manages over 120,000 video security channels nationwide, showcasing our robust capabilities in software development and operations. Additionally, outside of Mainland China, we provide services to approximately 7,000 retail stores in Thailand, which are also potential customers for our smart retail solutions.”

Price Action: GFAI shares were trading higher by 8.30% at $2.74 premarket at the last check on Wednesday.