LETHAM, Scotland, July 8, 2024 /PRNewswire/ — MDJM LTD (Nasdaq: MDJH) (the "Company" or "MDJM"), an integrated global culture-driven asset management company, today announced that its wholly owned subsidiary, Mansions Catering and Hotel LTD ("Mansions"), a United Kingdom company, wholly owned by our wholly owned subsidiary, MD Local Global Limited, a United Kingdom company, has entered into a strategic cooperation agreement with Chongqing Tu Bi Business Management Co., Ltd. ("Chongqing Tu Bi"), an incubator of cultural and creative projects and brands based in China. This partnership marks a milestone in MDJM’s ongoing strategy to integrate cultural arts into its portfolio and expand its cultural business initiatives.
Under the agreement, Mansions and Chongqing Tu Bi will leverage their mutual interests and resources in the arts to enhance artistic communication, develop cultural and creative products, and engage in capital operations to boost both parties’ business development. The collaboration will involve the regular organization of artistic activities with the exchange of artworks and artistic ideas, including workshops, lectures, art exhibitions, and artist-in-residence programs, with an aim to foster interaction between artists and to enhance cultural exchanges.
A major initiative under this partnership is the joint development of cultural products tailored for international markets, particularly focusing on the UK and Europe. The parties will combine efforts to blend traditional Chinese elements with contemporary design, promoting cultural heritage and modern artistic innovation.
Furthermore, the collaboration will transform a villa at the historic Victorian Robin Hill Hotel, owned by MDJM and located in England’s southern harbor area, into the "Eling TESTBED2 Overseas Art Center." This center will act as a dynamic platform to exhibit and promote the artistic creations and cultural products resulting from this partnership. Additionally, during the overall renovation and upgrading of Fernie Castle, the two parties will collaborate on operations to ensure that it serves as a crucial showcase for the collaborative results between the two parties.
Eling TESTBED2, initiated by Chongqing Tu Bi and located in Chongqing’s Yuzhong District, is a cultural and creative park that has transformed a historical industrial site into a vibrant hub for cultural and creative activities, attracting both local and international visitors. Hosting nearly 70 diverse businesses and brands, it has made significant contributions to the local and national cultural tourism industries with its innovative approach to urban renewal. Recognized by the Ministry of Culture and Tourism, TESTBED2 was designated as one of the first batch of National Night Culture and Tourism Consumption Concentration Areas in 2019, a National Industrial Tourism Demonstration Base in 2022, and a National Tourist Leisure District in 2023. It has also received numerous awards, including the Old City Revival Award among China’s Top Ten Urban Renewal Cases of 2018, the Towards Light Award in the 2019 China Business Towards Goodness Awards, and the Culture and Tourism Project with the Best Brand Value in China in 2019. Further accolades include the 2019 China Commercial Real Estate Urban Renewal Demonstration Project, the 2019 Outstanding Industrial Park Transformation Case in Chinese Urban Renewal, the Chengdu-Chongqing Trendy New Landmark of 2020, and the 2020 China Urban Renewal Map Innovation Storm Award, along with being named a Chongqing Cultural Industry Demonstration Park and a Chongqing Research Travel Demonstration Base. These distinctions underscore TESTBED2’s crucial role in fostering the coordinated development of commerce, tourism, urban renewal, and cultural tourism in Chongqing.
The partnership also extends to digital initiatives, where both MDJM and Chongqing Tu Bi will explore and promote the digitization of art assets, including digital archiving and the distribution of NFTs, to access new markets and audiences. The collaboration will support the operation of digital art platforms to facilitate the trading and showcasing of digital artwork, in an effort to enhance their market value and international reach.
"Our collaboration with Chongqing Tu Bi at the Robin Hill Hotel epitomizes our dedication to fostering cultural development and enhancing global communication. By integrating more culturally and creatively oriented projects into our business, we aim to strengthen MDJM’s market position while bringing significant social and economic benefits to the communities involved. We are excited about the potential of this partnership to create unique experiences for our guests and deliver substantial value to our shareholders," said Mr. Siping Xu, Chairman and Chief Executive Officer of MDJM.
About MDJM LTD
MDJM focuses on international expansion for the development of real estate-related hospitality, butler services, and more. For more information regarding the Company, please visit http://ir.mdjmjh.com.
About Chongqing Tu Bi Business Management Co., Ltd.
Chongqing Tu Bi specializes in the incubation of cultural and creative projects, notably its project TESTBED2 Cultural and Creative Park in Eling, Chongqing. This park is a leading example of urban renewal, combining local culture, innovative commerce, immersive tourism, and community revitalization, attracting both domestic and international visitors.
Forward-Looking Statements
This announcement contains forward-looking statements. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s annual report on Form 20-F and its other filings with the U.S. Securities and Exchange Commission.
Investor Contact:
Sherry ZhengWeitian Group LLCEmail: shunyu.zheng@weitian-ir.com Phone: +1 718-213-7386
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