Guardforce AI Co Ltd (NASDAQ:GFAI) announced that its Mainland China-based wholly-owned subsidiary Beijing Wanjia Security System Limited has expanded contracts with two longtime retail clients.
The security solutions provider said both contracts will expand Beijing Wanjia’s business footprint across the retail landscape, including new smart retail solutions to enhance the efficiency of loss prevention efforts for retail clients.
The first client, a flagship health and beauty brand, has added security alarm system services for its 3,900 stores across the country.
This will bring Beijing Wanjia’s total security alarm system operations to more than 12,000 stores across Mainland China, marking a 50% increase from the end of last year.
The second client, an international coffeehouse chain, has extended security alarm system services to all of its stores for two years.
It has also agreed to the installation of security alarm systems for nearly 1,000 of its stores nationwide over the next two years, the company said.
“Our longstanding client relationships and ability to expand service offerings validate our competitiveness and the trust our clients place in us," Guardforce AI CEO Lei (Olivia) Wang commented.
“Currently, Beijing Wanjia manages over 120,000 video security channels nationwide, showcasing our robust capabilities in software development and operations.”
Guardforce AI also highlighted that it now services nearly 20,000 retail locations in the Asia Pacific region.
“We provide services to approximately 7,000 retail stores in Thailand, which are also potential customers for our smart retail solutions,” the CEO noted.
“Furthermore, we are committed to further enhancing our retail offerings by integrating robotics & AI, aligning seamlessly with our continuous development strategy."