NetDragon Websoft Forms AI Joint Venture With Jiuzhou Culture Media

MT Newswires Live09-29

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.

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