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LONDON, UK / ACCESSWIRE / October 30, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Cleantech Solutions International, Inc. (NASDAQ: CLNT), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=CLNT. The Company announced on October 27, 2017, that its wholly-owned subsidiary EC Technology & Innovations Limited (ECTIL) has signed an agreement to acquire 51% interest in Inspirit Studio. ECTIL acquired the majority stake from Inspirit shareholders and the transaction is valued HK$3 million. Cleantech plans to issue and allotment of 85,473 unregistered shares at $4.50 per share to finance the deal. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Commenting on the acquisition, Parkson Yip, COO of Cleantech, said:

"We strongly believe "Anyway" will penetrate everyday life, allowing people to serve each other more easily. By integrating the "Anyway" business model and the user groups, Cleantech Solutions will be better able to grow our community sharing concepts. We expect to increase active service providers in Hong Kong from 2,000 to 120,000 and expand into other regions in the next 12 months."

Kurt Tam, CEO of Inspirit Studio added:

"We are very excited to join the Cleantech Solutions group to further develop and enhance our community courier solutions. We have already made plans to enhance our solutions, cover a broader market scope, and allow more people to join as both users and service providers."

Backdrop

The deal comes in the backdrop of Cleantech's wholly-owned subsidiary, Sharing Economy Investment Limited (SEI), signing an exclusive agreement for acquisition of 51% stake in Inspirit Studio, which was announced on October 09, 2017.

Inspirit has developed and manages a mobile app called "Anyway", a peer-to-peer logistic platform that applies the concept of sharing economy. "Anyway" is a revolutionary concept that promises delivery of parcels with 2 hours in Hong Kong. "Anyway" provides a platform to facilitate the real-time matching of instant senders and couriers to make the 2-hour delivery model feasible and economical. This is done by using the efforts of people traveling on a particular route to carry parcels for delivery to someone on the same route. This allows everyone's "idle" resources to earn extra freelance income while provides the logistic market a revolutionary delivery concept.

This concept is a growing one according to iimediaResearch, and it went on to say that users engaged in the peer-to-peer delivery sharing market in China has grown from 124 million in 2014 to 231 million in 2016. The experts envision this market to grow to 353 million by 2018. To give a rough estimate, in Q1 2017 approximately 1.4 billion peer-to-peer delivery transactions were recorded.

About Cleantech Solutions International, Inc.

Cleantech, through its affiliated Companies design, manufacture, and distribute a line of proprietary high and low-temperature dyeing and finishing machinery to the textile industry. Cleantech started off as a manufacturer and seller of industrial machinery and later on expanded its operations to meet the specialized needs of industrial sectors like the wind energy manufacturing and textile industries. In recent times the Company has diversified its business in to the technology and global sharing economy markets. The Company has been involved in developing online platforms and rental business partnerships that will drive the global development of sharing through economical rental business models.

About Inspirit Studio

Hong Kong-based Inspirit Studio was founded in 2015. The Company is known for developing the "Anyway" mobile app platform which provides instant errand services in a peer to peer model. Its vision is to create an innovative consumption pattern and improve quality of life by effectively reallocating idle resources in communities. Income is mainly generated from commission charged on each errand service transaction, apart from that, it will diversify its revenue stream by introducing advertising business and big data analytics. Going forward the Company plans to expand its errand network, continuously optimize its business model, integrate into the ecosystem of the Cleantech Solutions group and join together into a global network.

Last Close Stock Review

At the closing bell, on Friday, October 27, 2017, Cleantech Solutions' stock declined 6.93%, ending the trading session at $4.30. A total volume of 373.68 thousand shares have exchanged hands, which was higher than the 3-month average volume of 360.71 thousand shares. The Company's stock price soared 5.65% in the last three months, 15.59% in the past six months, and 40.71% in the previous twelve months. Moreover, the stock skyrocketed 62.88% since the start of the year. The stock currently has a market cap of $9.12 million.

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