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Xingyun Technology has made an announcement revealing that its fully-owned subsidiary, Shenzhen Xingyun, is set to invest 5.1 million yuan in collaboration with affiliated entities, Yunyong International and Huijian Investment, to establish a joint venture named Shenzhen Xingyun Huisuan. The joint venture will boast a registered capital of 10 million yuan, with Shenzhen Xingyun securing a 51% ownership stake. The primary focus of the joint venture will be on computing power-related businesses, and it is currently in the planning phase. This transaction, classified as a related-party deal, has already received approval from the board of directors, thereby negating the necessity for submission to the shareholders' meeting for further discussion and approval.
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