Jinyong Investment (01328) issued an announcement. In view of (among others) the deep relationship between the Group and Hongyi Investment Group,...
Zhitong Finance App News, Jinyong Investment (01328) announced that due to (among others) the deep relationship between the Group and Hongyi Investment Group, and potential strategic synergy between Beijing FOURTH PARADIGM Intelligent Technology Co., Ltd., a limited company incorporated in China, whose issued shares are listed on the main board of the Stock Exchange (06682), the company and FOURTH PARADIGM signed a non-binding strategic cooperation framework memorandum on November 12, 2024.
According to the Memorandum of Strategic Cooperation, the Company and FOURTH PARADIGM (and/or its respective affiliates) will explore possible cooperation, including strategic development and capital market initiatives; it is proposed that the company (and/or its affiliates) may provide a range of services for FOURTH PARADIGM (and/or its related parties), including but not limited to business development and development advisory services, investment and financial advice, cash management products and/or asset allocation, based on further negotiations between the company and FOURTH PARADIGM (and/or its related parties) to conclude a final specific agreement. The Company anticipates charging fees for the services provided above. The details of the service and charging arrangements will not be confirmed until the Company and FOURTH PARADIGM (and/or their respective related parties) have entered into a specific agreement.
The Group is mainly engaged in providing investment management business and strategic direct investment business. The company believes that the Memorandum of Strategic Cooperation is a strong proof of the company's business capabilities and potential. The directors believe that the proposed cooperation between the Group and the FOURTH PARADIGM under the Strategic Cooperation Memorandum (if implemented) represents an opportunity for the Group to diversify its revenue sources, and that establishing a strategic cooperation memorandum conforms to the overall interests of the company and its shareholders.