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NEW YORK - Webus International Limited (NASDAQ:WETO), a micro-cap provider of travel and digital mobility solutions valued at $37.88 million, announced Monday plans to establish its global headquarters in the United States. According to InvestingPro data, the company generated revenues of $5.35 million in the last twelve months.
The company, which offers AI-driven chauffeur services and blockchain-enabled booking solutions under its Wetour brand, said the relocation aims to position it closer to innovation centers and capital markets. The move comes as the company operates with a moderate debt level, with a debt-to-equity ratio of 1.3.
According to the announcement, the new U.S. headquarters will focus on attracting talent, expanding research and development, and advancing blockchain applications for the travel industry, including cross-border settlement and loyalty point tokenization.
WETO also plans to explore integrating AI-powered agents with its travel services to enable more personalized itinerary planning and real-time support.
"The decision to establish our global headquarters in the U.S. represents more than a relocation—it is a strategic leap forward," said Nan Zheng, Chief Executive Officer of WETO, in the press release. "The United States provides unparalleled access to innovation, talent, and global investors."
The company stated it will continue developing its technology-focused approach to travel services, with particular emphasis on blockchain technology and Travel Tech development.
Webus International did not specify the exact location of its new headquarters within the United States or provide a timeline for the completion of the relocation. The announcement comes amid challenging market conditions for WETO, with the stock down nearly 53% year-to-date. InvestingPro subscribers can access 8 additional key insights about WETO’s financial health and market position, along with detailed valuation metrics and growth indicators.
In other recent news, Webus International Limited has announced its strategic partnership with Air China Limited to provide airport transfers and premium chauffeur services. This agreement is set to potentially cater to Air China’s extensive customer base, which includes over 60 million PhoenixMiles members worldwide. In another development, Webus has expanded its payment options on the Wetour mobile web platform by integrating support for the XRP token and Ripple USD stablecoin. This integration allows travelers to purchase product vouchers and promotional coupons using these cryptocurrencies, with transactions automatically linked to users’ account benefits and activity profiles. These recent developments highlight Webus’s efforts to enhance its service offerings and expand its reach in the mobility solutions market.
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