On November 15, Gelonghui reported that Enterprise Dev (01808.HK) announced a strategic cooperation agreement with Suzhou Tiantong Weishi Electronic Technology Co., Ltd. (Tiantong Weishi) on November 15, 2024. According to this agreement, both parties agree to cooperate in various aspects, including the commercial operation of L4 level self-driving technology in self-driving cars and jointly building a 2000P computing power smart computing center to support model training and operation needs.

The group will mainly be responsible for the operation of smart driving services and smart computing services, while Tiantong Weishi will be responsible for technology research and development and maintenance.

Both parties will jointly apply for self-driving technology landing and commercial operation licenses in some key cities in Hebei Province, and the proposed smart computing center will be used to service the business needs in Hebei Province focused by this strategic cooperation, while also serving Tiantong Weishi's training and remote takeover needs for self-driving operation projects currently underway in multiple locations, as well as AI training needs for Tiantong Weishi's L2-L3 level ADAS system mass production system and end-to-end systems.

The strategic cooperation will further leverage each party's respective professional advantages and CNI resource index. On one hand, the group can utilize Tiantong Weishi's resources and experience in smart driving to enhance the group's business competitiveness; on the other hand, Tiantong Weishi will benefit from the group's industry resources and rich experience in data, smart computing, and edge computing, which will assist its business expansion in the smart driving industry.

The strategic cooperation represents an important attempt for the group to extend its smart computing business into a new industrial ecosystem. The contracting parties can not only achieve synergistic growth in their respective businesses through cooperation but also promote industry technological innovation and urban industrial upgrading on a larger scale, bringing new market opportunities and commercial value to both companies.