China National Culture, Bingo Form AI Entertainment Joint Venture
China National Culture Group (HKG:0745) has signed a joint venture agreement with Bingo (HKG:0822) to establish a Hong Kong-based venture focused on AI infrastructure for the digital entertainment industry, according to a Wednesday filing with the Hong Kong bourse.Under the agreement, China National Culture will hold a 60% stake in the joint venture, and Bingo will own the remaining 40%.The parties will negotiate the details, including the investment amount, and execute a supplemental agreement.The joint venture will develop AI-powered infrastructure for intellectual property management, content compliance, intelligent settlement and copyright protection.Shares of China National Culture were up nearly 10% in Thursday afternoon trade, while Bingo Group were up 3%.
