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4-Traders Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Kuangchi Science Ltd    0439   BMG5326A1062

KUANGCHI SCIENCE LTD (0439)
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China Unicom, Kuang-Chi Signed Business Cooperation Framework Agreements

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01/06/2018 | 08:15am CEST

HONG KONG, Dec. 25 -- China Unicom, a telecommunications company, issued the following news release:

On 25 December 2017, China Unicom signed business cooperation framework agreements respectively with Kuang-Chi Technologies and KuangChi Science, both of which are listed subsidiaries of Kuang-Chi Group, one of its mixed-ownership reform strategic investors.

As a top-notch technology innovation group, Kuang-Chi Group is one of the strategic investors in industry verticals introduced in China Unicom's mixed-ownership reform. This agreement is an integral component of a series of cooperation framework agreements which China Unicom signed with strategic investors in industry verticals participating in its mixed-ownership reform, demonstrating that China Unicom's mixed-ownership reform measures have been further executed and deepened.

Pursuant to the agreement, under the theme of "Joint Expansion and Innovation", China Unicom, Kuang-Chi Technologies and KuangChi Science will proactively leverage their respective edges in technology, resources and ecosystem to deepen cooperation and winwin development. The two companies will enter into in-depth cooperation in areas such as military-civil integration, public security, smart cities and smart transportation, etc.

For military-civil integration, China Unicom will enter into in-depth cooperation with Kuang-Chi Technologies in areas such as metamaterials, artificial intelligence, video analytics, biometric identification, communications, cloud computing, Big Data, etc. with a view to developing competitive solutions and providing effective support to development in areas such as military informatisation, military Internet of Things, smart bases, etc.

For public security, China Unicom and KuangChi Science will enter into in-depth cooperation in "policing technology sharing platform". The two companies will effectively integrate capabilities such as advanced artificial intelligence, security surveillance, technology investigation methods with communications network construction, data centres, cloud platforms, Big Data analysis, etc. in order to develop valuable solutions, and achieve smarter, highly efficient, convenient and comprehensive technology services in public security.

China Unicom and KuangChi Science will become strategic partners in the area of smart cities. The two companies will engage in in-depth cooperation in smart city planning, construction, operation, data and services, etc. and jointly commence deep operation services targeted at smart cities.

In addition, China Unicom and KuangChi Science will engage in smart transportation cooperation by integrating artificial intelligence technology, communications services and smart operation, aiming to develop future-proof and comprehensive integrated smart transportation solutions. The two companies will also share customer resources and channels, and jointly develop the relevant markets.

© 2018 Targeted News Service, source News Service

Stocks mentioned in the article
ChangeLast1st jan.
KUANGCHI SCIENCE LTD -1.16% 1.71 End-of-day quote.-29.92%
ZHEJIANG LONGSHENG AUTO PARTS CO LTD --End-of-day quote.
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NameTitle
Lin Luan Co-CEO, CTO & Executive Director
Yang Yang Zhang Co-Chief Executive Officer & Executive Director
Ruo Peng Liu Chairman
Wing Hee Law Chief Financial Officer
Chun Shun Ko Non-Executive Director
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