Wisdom finance APP news, Sheung Moon Holdings (08523) announced that on June 26, 2024, the company signed a non-legally binding memorandum of understanding with Nanjing Zhongke Weidian Supply Chain Co., Ltd., about the potential cooperation in adopting leading anti-counterfeiting technology in the company's construction business.

As of the date of this announcement, the potential partner is engaged in the promotion of WA Weidian code technology (WA Weidian code), and owns 7% of the shares of Zhongke Weidian Technology Co., Ltd. (Zhongke Weidian), which is a limited company established in China and has a wide range of patents with more than 10 patents granted. Its applied products and services fill in several technical gaps in the field of big data technology and application. In December 2023, Zhongke Weidian reached a cooperation research plan with the Data Science Research Institute of the National HPC Center (Hefei). This cooperation has promoted the establishment of a joint technology research laboratory, which provides valuable support and resources for Zhongke Weidian's technology development.

The company is discussing possible ways of cooperation with potential partners. According to the memorandum of understanding, the company will leverage its business network and industry knowledge in the construction industry, as well as the advantages of being a listed company, to explore opportunities for using the potential partner and Zhongke Weidian's technology in the field of building materials supply. The potential partner, with its professional knowledge and experience in promoting anti-counterfeiting technology, can cooperate with the company to develop business models.

In addition, the potential partner and Zhongke Weidian can use Zhongke Weidian's "Everything Numerical Technology" to establish a building material traceability platform for the company. Through Weidian code time-frequency technology and blockchain technology, the platform will achieve end-to-end traceability of building materials from production to construction sites, ensuring the authenticity and reliability of building materials.