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Xinguo Du has declared its intention to co-invest 30 million yuan alongside Shi Xiaodong, the company's director and deputy general manager, along with Shenzhen 537 Forward Investment Partnership (a Limited Partnership entity), to set up a majority-owned subsidiary known as Jisuan Company. In this venture, Xinguo Du will inject 16.2 million yuan, securing a 54% controlling interest. Jisuan Company is poised to concentrate on the R&D of cutting-edge smart hardware and will introduce a novel brand, Xalgo, to delve into the integration of artificial intelligence technology within the consumer marketplace. Notably, this investment qualifies as a related-party transaction and has already received the green light from the board of directors, thereby bypassing the necessity for shareholder approval at a general meeting.
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