CHINA RUYI (00136) announced that its indirect wholly-owned subsidiary, Virtual Cinema Entertainment Limited (the Investor), recently entered into a share subscription agreement with AIsphere Limited (the Target Company) and other parties. Pursuant to this agreement, the Investor conditionally agreed to invest approximately US$14.2 million to acquire shares in the Target Company. The Company, Wang Changhu (Mr. Wang), and the Target Company's domestic entity, Beijing Aishi Technology Co., Ltd. (Aishi Tech, collectively referred to as the Contracting Parties), also recently entered into a Strategic Cooperation Framework Agreement. Together with the share subscription agreement, these are referred to as the Agreements. According to the cooperation agreement, the Contracting Parties have agreed to establish a strategic partnership to explore innovative applications of artificial intelligence technology in businesses such as film and television production, streaming media, and gaming content creation and operation. The main areas of collaboration include the following items: Providing strategic advisory services. Subject to the terms of the cooperation agreement, Aishi Tech and its team will provide strategic advice on the application of AI technology across the Company's various business segments, aiming to enhance the production efficiency and quality of the Company's works. Collaboration on AI technology. The Contracting Parties will, adhering to the principle of good faith cooperation, leverage their respective resource and technological advantages to jointly explore AI applications in the fields of film, streaming, and gaming. This includes, but is not limited to, visual design for film and television, visual effects production, promotional material generation, improving the utilization efficiency of streaming content assets, optimizing user experience, as well as game content production, distribution, and interactive experiences. Other innovative collaborations. The Contracting Parties plan to collaborate on other innovative directions, including (i) exploring the use of the Company's intellectual property resources to promote secondary creative activities utilizing AI generation technology, and establishing copyright protection mechanisms and content compliance mechanisms that meet regulatory requirements; (ii) leveraging the data and experience accumulated by the Company in the film and gaming industries, combined with the AI capabilities of Mr. Wang and Aishi Tech, to jointly develop multimodal agents that can interact with users in real-time and establish emotional connections; and (iii) negotiating the expansion into other innovative collaboration areas based on market and technological developments. Aishi Tech is a technology company whose primary business is the development of large-scale AI video generation models, world models, and related applications. The core products currently under development by Aishi Tech include the AI video generation application "PixVerse" and the real-time generative world model "PixVerseR1". The core functionalities of these products include text-to-video, image-to-video, and real-time interactive video generation. Measured by monthly active users, Aishi Tech is a global leader among video large model technology companies and is also the first company in the world to release a real-time generative world model. In recent years, the Group has continuously driven innovation and development in several core business areas, including film production, online streaming media, and online game services, actively enhancing its overall market competitiveness and industrial layout. The signing of these Agreements aims to fully leverage Aishi Tech's artificial intelligence technology to support the intelligent development of the Group's various business areas and to jointly explore innovative applications of AI technology in the production and operation of film, streaming, and gaming content. Aishi Tech and its team will provide strategic advice on the application of AI technology within the Company's business segments to help improve the production efficiency and quality of the Company's works.
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