NetDragon Websoft Forms AI Joint Venture With Jiuzhou Culture Media
MT Newswires Live
Sep 29
NetDragon Websoft Holdings (HKG:0777) agreed to form a joint venture with Jiuzhou Culture Media, according to a Monday filing with the Hong Kong bourse.
Its wholly owned subsidiary, NetDragon BVI, will invest 50 million yuan in the joint venture for a 51% stake.
The joint venture will focus on foundational AI software, large-scale AI models, technology platforms, content creation platforms, model APIs and other digital technology services.
NetDragon also plans to issue 25 million unlisted warrants to Jiuzhou at HK$0.10 each as a performance incentive.
The joint venture will become a subsidiary of NetDragon upon completion, with its financial results consolidated into the group's accounts.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.