Core Viewpoint - The establishment of the Shenzhen Technology Sports Industry Fund by Qingdao Inpace Health Technology Co., Ltd. and three state-owned enterprises in Shenzhen aims to integrate resources and promote high-quality development in the technology sports sector [1][2]. Group 1: Fund Establishment - The Shenzhen Technology Sports Industry Fund is a collaboration between Qingdao Inpace and three state-owned enterprises, marking a significant moment in the development of the sports industry [2]. - The fund will focus on integrating high-quality enterprises within the sports industry chain, targeting cutting-edge fields such as artificial intelligence, high-end smart sports equipment, the metaverse, and digital cultural entertainment [2]. Group 2: Strategic Goals - The collaboration aims to leverage the strengths of each party involved, with Shenzhen Guarantee Group having a registered capital of 14 billion yuan and a net asset exceeding 25 billion yuan, showcasing its strong credit rating and service to over 120,000 enterprises [2]. - Shenzhen Sports Industry Group operates several top-tier sports venues and hosts over 100 major events annually, contributing to the overall sports ecosystem [2]. - Inpace, with over 30 years of experience, aims to enhance its product offerings and market influence in the Guangdong-Hong Kong-Macao Greater Bay Area through this fund [3].

Core Viewpoint - The company has signed a framework agreement to establish a technology sports industry investment fund with a total scale of 100 million RMB, aiming to enhance its industry influence and market competitiveness [3][9]. Group 1: Overview of the Cooperation Agreement - The cooperation involves the company, Shenzhen Guarantee Group, Shenzhen Guangming Science City Industrial Development Group, and Shenzhen Sports Industry Group, focusing on joint development and long-term cooperation [3]. - The fund will primarily invest in areas such as artificial intelligence, high-end sports equipment, virtual events, and digital culture [9]. - The company will participate as a limited partner, with specific investment amounts and timelines to be determined in future agreements [3][12]. Group 2: Basic Information of Transaction Parties - Shenzhen Guarantee Group was established on December 24, 2007, with a registered capital of approximately 1.4 billion RMB and has no existing relationships with the company or its major shareholders [4][5]. - Shenzhen Guangming Science City Industrial Development Group, established on February 8, 1996, has a registered capital of 500 million RMB and is also free from any related party transactions with the company [6]. - Shenzhen Sports Industry Group, founded on February 21, 2022, has a registered capital of 100 million RMB and similarly has no connections with the company or its major stakeholders [7][8]. Group 3: Main Content of the Cooperation Agreement - The agreement outlines that the fund's investment decisions will follow a market-oriented and legal framework, with profit distribution and exit mechanisms to be negotiated among the parties [10][11]. - The agreement is a preliminary framework and does not impose binding obligations on the parties until formal contracts are signed [11]. Group 4: Impact of the Cooperation Agreement on the Company - The investment will be funded by the company's own resources, and the framework agreement does not guarantee the signing of formal agreements or the completion of the transaction, leading to uncertainty regarding its impact on the company's financial status [12].

Group 1 - The establishment of the Shenzhen Technology Sports Industry Fund aims to integrate high-quality resources in the sports industry and focus on innovation in the technology sports sector [1][2] - The fund will invest in cutting-edge areas such as artificial intelligence and data analysis, high-end smart sports equipment, the metaverse and virtual events, and digital cultural entertainment [2] - The collaboration involves key players including Qingdao Inspur Health Technology Co., Shenzhen Guarantee Group, Shenzhen Sports Industry Group, and Shenzhen Guangming Science City Industrial Development Group, each bringing unique strengths to the partnership [3] Group 2 - Qingdao Inspur has established a strong presence in the global fitness equipment market, with a focus on various types of fitness equipment and a significant increase in revenue from non-US regions by over 13% [4] - The company has also made strides in the ice and snow sports sector, launching a digital skiing simulator that has generated interest in sports consumption [4] - Future plans include accelerating product upgrades and expanding global market presence, leveraging innovation and a comprehensive industry chain layout to drive high-quality development in the sports industry [5]

Core Insights - Shenzhen is taking significant steps to enhance its sports industry, including the establishment of the Shenzhen Technology Sports Industry Innovation Collaborative Strategic Alliance and the signing of a cooperation agreement for the Shenzhen Technology Sports Industry Fund [1][2] Group 1: Strategic Developments - The Shenzhen Technology Sports Industry Innovation Collaborative Strategic Alliance was formed by seven entities, including Shenzhen Sports Industry Group and Shenzhen Guarantee Group, focusing on various aspects of the sports industry [1] - The Chinese government has issued guidelines to support private enterprises in investing in the sports industry, aiming to strengthen the industry’s supply chain [1][2] Group 2: Financial Initiatives - The Shenzhen Technology Sports Industry Fund, with a scale of 100 million yuan, is the first technology sports industry fund in the country, targeting investments in AI, high-end sports equipment, and digital entertainment [2] - Shenzhen Guarantee Group has introduced two financial products to support the upcoming 15th National Games, including "Sports Industry Leap Loan" for small enterprises and a knowledge property ABS product for tech sports companies [2] Group 3: Industry Growth Metrics - The total output of Shenzhen's sports industry is projected to exceed 200 billion yuan in 2024, with an annual growth rate of 20% [3] - Shenzhen has 18 enterprises recognized as national-level "specialized, refined, distinctive, and innovative" small giants, accounting for 60% of the total in the province [3]

Core Viewpoint - The establishment of the Shenzhen Technology Sports Industry Fund by Qingdao Impulse Health Technology Co., Ltd. (hereinafter referred to as "Impulse") in collaboration with three state-owned enterprises in Shenzhen aims to integrate resources and promote high-quality development in the technology sports sector [1][2]. Group 1: Fund Establishment and Objectives - The Shenzhen Technology Sports Industry Fund is a collaboration between Impulse and three state-owned enterprises, focusing on integrating quality enterprises in the sports industry [1][2]. - The fund will invest in cutting-edge areas such as artificial intelligence, data analysis, high-end smart sports equipment, the metaverse, virtual events, and digital cultural entertainment to enhance overall competitiveness and build an innovative sports industry ecosystem [1][2]. Group 2: Company Strengths and Market Position - Impulse, as the first publicly listed company in China's fitness equipment industry, has established a strong global presence and brand influence, with a 13% increase in R&D investment and a 22.65% surge in domestic revenue reported in the first half of 2025 [3]. - The company is also focusing on the needs of competitive sports, having developed a digital skiing simulator and formed a strategic partnership with Su Bingtian, a renowned athlete, to create specialized training equipment for track and field athletes [3][4]. Group 3: Technological Innovations and National Contributions - Impulse's products have been recognized for their reliability, exemplified by the delivery of their "Flying Sky" series muscle training devices to the Chinese space station, showcasing the company's technological capabilities and commitment to national strategic needs [4][6]. - The company aims to share its advanced technology and quality standards globally, contributing to the goal of breaking through a total scale of 7 trillion yuan in the sports industry during the 14th Five-Year Plan period [5][6]. Group 4: Future Goals and Strategic Vision - Impulse is leveraging Shenzhen's innovative environment to accelerate product upgrades and deepen global market expansion, with a strategic goal of becoming a "100 billion enterprise" during the 14th Five-Year Plan [6]. - The company is committed to transforming its technological advancements into a driving force for public health and the development of a healthy China, positioning itself at the forefront of the industry [6].

Core Viewpoint - The establishment of the Shenzhen Technology Sports Industry Fund by Qingdao Impulse Health Technology Co., Ltd. (hereinafter referred to as "Impulse") in collaboration with three state-owned enterprises in Shenzhen aims to integrate resources and promote high-quality development in the technology sports sector [1][4]. Group 1: Fund Establishment and Objectives - Impulse has signed an agreement to establish the Shenzhen Technology Sports Industry Fund with Shenzhen Guarantee Group Co., Ltd., Shenzhen Sports Industry Group Co., Ltd., and Shenzhen Guangming Science City Industrial Development Group Co., Ltd. [3][4] - The fund will focus on integrating high-quality enterprises in the sports industry chain and will invest in cutting-edge fields such as artificial intelligence, data analysis, high-end smart sports equipment, the metaverse, and digital cultural entertainment [4]. Group 2: Company Strategy and Market Position - Impulse aims to enhance its product market influence in the Guangdong-Hong Kong-Macao Greater Bay Area and diversify its product offerings through collaboration with the fund [5]. - The company has seen significant growth, with a 22.65% increase in domestic business revenue and a 13% rise in R&D investment year-on-year as of the 2025 semi-annual report [8]. Group 3: Technological Innovation and Partnerships - Impulse is actively engaging in technological innovation, exemplified by its collaboration with Su Bingtian, a renowned athlete, to develop specialized training equipment for Chinese track and field athletes [8][10]. - The company has also made strides in the aerospace sector, with its "Flying Sky" series of fitness equipment being sent to the Chinese space station to support astronaut health [10][12]. Group 4: Future Goals and Industry Impact - Impulse aims to become a "billion-dollar enterprise" during the 14th Five-Year Plan period, leveraging Shenzhen's innovative environment to accelerate product upgrades and global market expansion [12]. - The company is committed to transforming its advanced technology and quality into a driving force for national health and the development of the sports industry, contributing to the goal of exceeding a total scale of 7 trillion yuan in the sports industry during the 14th Five-Year Plan [10][12].

Group 1 - The Shenzhen Technology Sports Industry Fund has been officially established to integrate high-quality enterprises in the sports industry chain [1] - The fund will focus on investments in cutting-edge fields such as artificial intelligence and data analysis, high-end smart sports equipment, metaverse and virtual events, and digital cultural entertainment [1] - The establishment of the fund involves collaboration between Qingdao Inspur Health Technology Co., Ltd., Shenzhen Guarantee Group Co., Ltd., Shenzhen Sports Industry Group Co., Ltd., and Shenzhen Guangming Science City Industrial Development Group Co., Ltd. [1] Group 2 - The Vice Chairman and Secretary-General of the China Sporting Goods Industry Federation, Roger, stated that the sports industry has become a "new blue ocean" for the national economy [1] - The development of the industry relies on three driving forces: technological breakthroughs, policy guidance, and consumption upgrades [1]