Zhitong Financial App News, China Information Technology (08178) announced that on September 11, 2024 (after the Stock Exchange trading session), the company has signed a cooperation agreement with Masary Capital Investments LLC FZ (Masary Capital).

Under the cooperation agreement, the company will establish a strategic business partnership with Masary Capital, which will promote and oversee the company's predictive artificial intelligence projects in the Gulf Arab Cooperation Council region. The board of directors anticipates that such projects will include artificial intelligence predictive maintenance solutions for infrastructure projects; artificial intelligence geo-fencing solutions to reduce accidents around key marine facilities; artificial intelligence ship tracking and bridge monitoring solutions to improve ship navigation safety; artificial intelligence risk management solutions for the financial industry; and artificial intelligence revenue management solutions for the retail industry.

As part of a strategic business partnership, Masary Capital has agreed to introduce clients to the company, the company will enter into commercial agreements with them, and the company has agreed to pay the administrative costs of the introduction to Masary Capital.

According to the announcement, the Group's business mainly provides comprehensive marketing artificial intelligence solutions, big data analysis, system integration services and data storage to customers in various industries in China and Hong Kong, China, and the Group aims to expand its business footprint to the UAE and the wider Gulf Cooperation Council region. The board of directors believes that the conclusion of the cooperation agreement will help the Group expand its predictive artificial intelligence solutions and services to the UAE and the wider Gulf Cooperation Council region, which is in line with the Group's future development direction.