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Core Viewpoint - The collaboration between Juying Legend and Yushu Technology aims to establish a joint venture, Yuxing Entertainment Technology, to enter the smart robotics industry ecosystem, focusing on interactive entertainment robots and related products [4][8]. Group 1: Joint Venture Formation - Juying Legend's subsidiary, Xingchuangyi (Kunshan) Cultural Entertainment Co., Ltd., signed an agreement with Yushu Technology's subsidiary, Beijing Lingyi Technology Co., Ltd., to form the joint venture Yuxing Entertainment [4]. - The joint venture will focus on developing and promoting consumer-level IP robots, including pet quadruped robots and humanoid robots [4][7]. Group 2: Responsibilities and Collaboration - Juying Legend will handle IP planning, design, AI interaction, celebrity IP authorization, media promotion, and channel development, while Yushu Technology will focus on robot design, production, and technical development [7]. - The partnership aims to leverage Yushu Technology's core robotics technology and production capabilities alongside Juying Legend's IP resources and operational experience to create globally influential interactive entertainment robots [7][11]. Group 3: Product Development and Market Potential - The first product from this collaboration, "Juying Dog," is a quadruped robot designed for companionship and social interaction, which has recently entered the commercialization phase [8]. - "Juying Dog" is expected to complete testing by 2025 and plans to begin mass production in early 2026 [9]. - The global market for smart robotics is projected to grow from $35.8 billion in 2024 to $101.5 billion by 2032, highlighting the significant market potential for the joint venture's products [11]. Group 4: Strategic Expansion - The establishment of Yuxing Entertainment represents a strategic move to inject technological momentum into Juying Legend's IP business, creating new AI and robotics-derived products [11]. - Juying Legend is also expanding its global IP footprint, including plans to acquire up to 7% of the shares in the South Korean talent agency Galaxy, which manages globally influential artists [11].