According to the announcement from Jin Yong Investment (01328), given the profound relationship between the Group and IDG Capital, as well as the potential strategic synergies with SenseTime Limited ("SenseTime"), the company and SenseTime signed a non-binding strategic cooperation framework memorandum ("strategic cooperation memorandum") on June 4, 2024.

According to the strategic cooperation memorandum, the Company and SenseTime (and/or their respective affiliates) will explore feasible collaborations, including:

1. AI+Finance collaboration:

The Company will leverage its resources and experience in the finance field to jointly develop AI-driven financial products and services with SenseTime, focusing on investment research and decision-making assistance.

SenseTime will provide advanced AI technology support to help the Company transform its research information production and interaction methods through large-scale modeling capabilities in the face of massive information supply, build investment research assistants through in-depth processing of multi-source information, and achieve decision-making assistance through personalized information push.

2. Jointly empower ecological enterprises:

The Company will provide support to SenseTime and its AI ecological enterprises to help them rapidly develop their technology and business, including but not limited to providing business expansion financial advice, overseas capital markets and investment financing advice, investment management products, and asset allocation services.

SenseTime will provide AI computing power and technology support to support the Company and its ecological enterprises to improve their AI technology level and application capabilities.

3. Jointly build AI going global capabilities:

The Company and SenseTime will cooperate to develop AI+financial solutions that meet international market demand and jointly explore overseas markets. The Company will provide resources and channels for international market expansion, while SenseTime will provide technology and product support.

The announcement stated that the Group mainly engaged in investment management business and strategic direct investment business. The Company believes that the strategic cooperation memorandum is a powerful proof of the Company's business capabilities and potential. The Directors believe that the cooperation to be carried out by the Group and SenseTime under the strategic cooperation memorandum (if any) ("strategic cooperation") represents a further strengthening of their influence and investment in the AI field and provides innovative solutions and cutting-edge technologies to their portfolio and ecosystem companies. The execution of the strategic cooperation memorandum is in the overall interests of the Company and its shareholders.

SenseTime Limited, a leading global AI software company, is wholly-owned by SenseTime Group Limited (a limited company registered in the Cayman Islands and listed on the main board of the Hong Kong Stock Exchange (Stock Code: 00020)), SenseTime is building a new AI infrastructure system, SenseCore, integrating computing power, algorithms and platforms, and establishing a "SenseNova" large-scale model and research and development system on this basis, to unlock the ability to perform generalized artificial intelligence tasks at low cost, promote efficient, low-cost, and scaled AI innovation and implementation, and then connect commercial value loops, solve long-tail application problems, and lead the industrial development of AI. Its related products and solutions have received high praise from customers and partners.