Guardforce AI Expands Contracts with Two Major Retail Customers

Core Insights - Guardforce AI's subsidiary, Beijing Wanjia Security System Limited, has significantly expanded its contracts with two long-term retail clients, enhancing its service offerings and business footprint across nearly 20,000 retail stores in the Asia Pacific region [2][8]. Group 1: Company Overview - Beijing Wanjia Security System Limited, established in 1996, focuses on retail solutions, including smart retail solutions, CCTV, and security alarm operations [1]. - The company has integrated advanced technology in data cleaning and model building to improve retail operational efficiency and loss prevention systems [1]. - Currently, Beijing Wanjia operates in over 600 cities in China, serving a diverse client base [1]. Group 2: Business Expansion - The first client, a health and beauty brand, has added security alarm services for approximately 3,900 stores, increasing Beijing Wanjia's total security alarm operations to over 12,000 stores, marking a 50% increase from the end of 2023 [12]. - The second client, an international coffeehouse chain, has extended security alarm services to all its stores for two years and plans to install systems in nearly 1,000 stores nationwide [7][12]. - Beijing Wanjia currently manages over 120,000 video security channels across China, showcasing its capabilities in software development and operations [8]. Group 3: Technological Advancements - The company is enhancing its smart retail solutions by implementing AI and advanced data analysis, which significantly improves loss prevention efforts by analyzing customer flow, demographics, and behavior [3][8]. - Guardforce AI aims to further integrate robotics and AI into its retail offerings, aligning with its continuous development strategy [8].