Core Viewpoint - The company has entered into a joint venture agreement with Shannon Chip to establish a joint venture company with a registered capital of RMB 120 million to explore the intelligent computing service market [1] Group 1: Joint Venture Details - The registered capital of the joint venture will be RMB 120 million, with the company contributing RMB 90 million and Shannon Chip contributing RMB 30 million [1] - The company will hold a 75% stake in the joint venture, while Shannon Chip will hold a 25% stake, allowing the joint venture to be accounted for as a subsidiary in the company's consolidated financial statements [1] Group 2: Strategic Rationale - The company believes that the intelligent computing business complements its existing operations and will create synergies for overall business development [1] - There is a stable growth in demand for computing resources and processing capabilities from existing customers [1] - The company has the capability to provide intelligent computing services due to its accumulated technical expertise, ongoing investment in distributed computing, mature supply chain system, and self-developed resource scheduling platform [1] Group 3: Benefits of the Joint Venture - The joint venture will enhance technological upgrades by providing access to advanced computing chips and enriching the company's heterogeneous computing resource pool [1] - It will accelerate business expansion, allowing the company to establish intelligent computing centers for various clients, thereby improving the availability and support of computing resources in Wuxi and the Yangtze River Delta region [1] - The joint venture will deepen collaboration with large enterprises, facilitating access to international and local companies that require intelligent computing services [1] - The establishment of the joint venture will help the company gain a first-mover advantage in the intelligent computing industry, solidifying its leading position in edge computing, artificial intelligence, and heterogeneous computing [1]