Zhitong Finance App News, Hongyi Culture Group (00419) issued an announcement that the company has cooperated with AIROBO PTE. LTD (“AIROBO”) jointly established a joint venture, AIROBO (HK) LIMITED (“Joint Venture”), in Hong Kong to operate robot platforms. The Company holds 70% of the shares in the joint venture and AIROBO holds 30% of the shares.
The joint venture has established a wholly-owned subsidiary, Ainobo (Chengdu) Technology Co., Ltd. (“Ainobo (Chengdu)”) in the China (Sichuan) Pilot Free Trade Zone. Anobo (Chengdu) is the Group's independent operator in mainland China. It is responsible for the specific operation of robot platforms such as business development, technology research and development, and customer service in the mainland China market. The joint venture and Ainobo (Chengdu) have become subsidiaries of the Group, and their financial results will be incorporated into the Group's comprehensive financial statements. According to the directors' knowledge, full knowledge and conviction after making all reasonable inquiries, AIROBO and its ultimate beneficial owners were independent third parties from the Company and its related parties when the joint venture was established.
The Group has accumulated relevant capabilities in artificial intelligence algorithms, data platform operation and intelligent system development in the field of digital operation in the medical industry. The robot platform operation business is an extended application of the above artificial intelligence and digital operation capabilities in physical space scenarios, in line with the Group's existing technical foundation.
With the development of artificial intelligence, the Internet of Things, and automation technology, the robot industry is evolving from hardware manufacturing to platform-based operation. This time, a joint venture was established and a domestic operating entity was set up to expand the application scenarios of the Group's artificial intelligence and digital operation capabilities on the basis of continuing to operate existing businesses.
AIROBO has relevant experience in robot platform operation and technology research and development, while the Group has enterprise management, market resources and digital operation capabilities. The board of directors believes that cooperation between the two parties is beneficial to the development of the joint venture business and conforms to the overall interests of the Company and shareholders.