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FINWIRES

Meorient Commerce Exhibition to Subscribe for Shares in StepFun

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Zhejiang Meorient Commerce Exhibition (SHE:300795) plans to subscribe for shares in a startup artificial intelligence company for 150 million yuan, according to a Shenzhen bourse filing on Monday.

The convention and exhibition services provider's shares dipped 20% at the close of Tuesday's trade.

Meorient will acquire a stake in Shanghai Jieyue Xingchen Intelligent Technology, which is also named StepFun.

StepFun produces and develops AI-driven model processing tools, language, images and videos.

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