According to Zhitong Financial App, TL NATURAL GAS (08536) announced that on September 25, 2023, Guangzhou Jinbao Technology Co., Ltd. (Guangzhou Jinbao), an indirect non-wholly-owned subsidiary of the company, has entered into a non-legally binding strategic cooperation framework agreement with Starlight Computer Technology (Shenzhen) Co., Ltd. (potential partner, together with the company collectively referred to as the “Contractor”). According to the framework agreement, the contracting parties agreed to develop strategic cooperation in live streaming sites, new media and local lifestyle sectors. Subject to further negotiations, the Contractor may implement the relevant cooperation through various means, including but not limited to the joint provision of new media marketing and promotion services. The framework agreement is valid for 180 business days, and the terms relating to cooperation are subject to further negotiations and the signing of a final agreement before it can be implemented.
According to reports, the potential partner is a company mainly engaged in providing new media marketing and promotion services in China.
According to the announcement, Guangzhou Jinbang has entered the new media industry since its establishment in December 2021. The Group has been actively exploring new business opportunities to diversify its revenue streams and ultimately bring maximum returns to the company's shareholders. The board of directors believes that the Group can use the technology of potential partners and combine Guangzhou's strong experience in providing digital marketing services to explore more business opportunities and profit potential for the Group. The Board of Directors believes that entering into a framework agreement is in the overall interest of the Group and the company's shareholders. The Board anticipates that the cooperation (if implemented) will provide the Group with good business opportunities to utilize its resources and insights, and will diversify the Group's revenue base and business scale.