On July 17th, 2020, Yongbao Information Science & Tech Group Co. officially signed relocation agreement with West Coast New Area of Qingdao Free Trade Zone, a branch office of Qingdao Government, Shandong Province.
According to the Agreement, Yongbao Science & Tech Group Co. will invest in Qingdao a Financial Data Processing headquarter, and relocated SOS company from Guizhou Province into Qingdao Free Zone. The aim is to build up a comprehensive zone in the fields of investment, health management, insurance, financial factoring, emergency rescue, and data processing. The total investment is estimated to be around US$2.5 billion, and annual revenue shall be around US$1 billion, tax about US$100 million.
The Agreement was signed by Mr. Weidong Feng, CTO of SOS Tech, and Mr. Zhijun Wang, Deputy Mayor of the West Coast New Area. Witnessed the signing were: Standing Committee Qingdao City, Mr. Zhou An, Mayor of West Coast New Area, Mr. Max Wang, CEO of Yongbao Group, Mr. Jonathan Zhang and Mr. Wenbin Wu: In dependant Director of SOS Ltd.