Powerbridge Technologies Acquires Majority Stake in DTI Group to Build Trade Digitalization Ecosystem

ZHUHAI, China, March 30, 2023 /PRNewswire/ -- Powerbridge Technologies Co., Ltd. (NASDAQ:PBTS) ("Powerbridge" or the "Company"), a provider of multi-industry technology solutions, has announced today that it has successfully acquired a majority stake of 51% in DTI Group, a leading platform developer and service provider for digital trade infrastructure in China.

The acquisition is a strategic move that contributes to the expansion of Powerbridge's operations by building a digital trade ecosystem. DTI's expertise in digital trade infrastructure will complement Powerbridge's existing capabilities and enhance the Company's ability to deliver innovative solutions that drive efficiency and growth for cross-border trade and e-commerce. With DTI's strong performance and a series of recently signed digital solutions contracts valued at approximately $10 million, it is expected that this acquisition provides significant values and benefits to Powerbridge.

Stewart Lor, CEO of Powerbridge Technologies commented: "We are excited to have acquired a majority stake in DTI Group as we continue to expand our operations in trade digitization. DTI's leading platform development and service provision capabilities, combined with Powerbridge's cutting-edge technology solutions, will enable us to build a comprehensive trade digitalization ecosystem and provide more efficient services to our customers.

This acquisition marks an important milestone for Powerbridge as the Company continues to invest in the development of its technology solutions and expand its market reach. We are committed to delivering innovative solutions that drive efficiency and growth in trade digitization, and we believe this acquisition is expected to bring substantial financial and operational benefits to the Company and our stakeholders."

About Powerbridge Technologies

Powerbridge Technologies Co., Ltd. (NASDAQ:PBTS) is a leading provider of multi-industry technology solutions. The Company offers software and platform applications, IoT platform services and intelligent devices, supply chain platforms and interactive media services, metaverse and digital services, and cryptomining platform services and cryptocurrency asset operations.

Safe Harbor Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may", "will", "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements; specifically, the Company's statements regarding listing on the NASDAQ Capital Market and the IPO are forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For more information, please contact:

Corporate Investor Relations

Powerbridge Technologies Co., Ltd.

Email: [email protected]

Website: www.powerbridge.com/ir/

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SOURCE Powerbridge Technologies Co., Ltd.