Core Viewpoint - The stock of Starry Sky Chinese (06698.HK) experienced a significant drop, falling over 30% at one point and closing down more than 14% with a trading volume exceeding one million Hong Kong dollars following the announcement of a joint venture in the AI music business [2]. Group 1: Company Announcement - On November 14, Starry Sky Chinese announced that its indirect wholly-owned subsidiary, Shanghai Jiuwu Yisheng, signed a joint venture agreement with partners to establish a company focused on AI music operations [2]. - According to the joint venture agreement, Shanghai Jiuwu Yisheng will invest 115 million yuan, with 320,000 yuan allocated as registered capital and 115 million yuan designated for capital reserves [2]. - The joint venture partners will invest 244 million yuan, with 680,000 yuan as registered capital and 244 million yuan for capital reserves, resulting in Shanghai Jiuwu Yisheng holding a 32% stake and the partners holding 68% [2].

Group 1 - The stock of Starry Sky Chinese (06698.HK) experienced a significant drop, falling over 30% at one point and currently down over 14% with a trading volume exceeding 1 million Hong Kong dollars [1][2] - As of November 17, the stock price was reported at 1.220 HKD, with a market capitalization of 486 million HKD and a price-to-earnings ratio of -2.4 [2] - The stock's trading activity showed a drastic decline, with a peak drop of 30.07% noted during the trading session [2] Group 2 - On November 14, Starry Sky Chinese announced a joint venture agreement to establish a company focused on AI music business, with its subsidiary Shanghai Jiuwu Yisheng investing 115 million yuan [3] - The joint venture will have a registered capital of 320,000 yuan, with the total investment from Shanghai Jiuwu Yisheng and its partner amounting to 2.59 billion yuan [3] - After the establishment of the joint venture, Shanghai Jiuwu Yisheng will hold a 32% stake, while its partner will hold 68% [3]

Core Viewpoint - The company, 星空华文, has announced the establishment of a joint venture to operate AI music business, indicating a strategic move into the technology-driven entertainment sector [2]. Group 1: Joint Venture Details - On November 14, 星空华文 announced that its indirect wholly-owned subsidiary, 上海久吾一生, has signed a joint venture agreement with partners to establish a company focused on AI music [2]. - 上海久吾一生 will invest 115 million yuan, with 320,000 yuan allocated as registered capital and the remaining 115 million yuan designated for capital reserves [2]. - The joint venture partners will invest 244 million yuan, with 680,000 yuan as registered capital and 244 million yuan for capital reserves [2]. - After the establishment of the joint venture, 上海久吾一生 will hold a 32% stake, while the partners will hold a 68% stake [2].