Glonghui December 8 | Yinsheng Digital Insurance (03773.HK) announced that on December 8, 2023, the company's wholly foreign-owned enterprise Tiantianchong Technology (Shenzhen) Co., Ltd. (“Tiantianchong Shenzhen”) and Shenzhen Yuanshi Digital Intelligence Technology Co., Ltd. (an independent third party) entered into a joint venture agreement to establish Shenzhen Yinshenghui Sugar Technology Co., Ltd. (“Joint Venture”). The joint venture's business portfolio includes (but is not limited to) establishing an online consultation, diagnosis and treatment management service platform for chronic diseases (such as diabetes), and providing relevant big data, artificial intelligence models and figures Human customer service. The joint venture will have 51.0% and 49.0% of the shares held by Shenzhen Tiantianchong and strategic partners respectively.
According to the information provided, the strategic partner is a company registered in China, mainly engaged in the manufacture and sale of artificial intelligence hardware, software and other electronic devices.
The Board of Directors has been actively seeking various investment opportunities to bring diversified revenue streams to the Group. After detailed research and many rounds of discussions with strategic partners, the directors noticed that due to the increasing number of diabetics and unmet market demand, China's diabetes health management sector has huge market opportunities and development potential. The joint venture will rely on its management team's strong technical background and operational capabilities in diabetes-related fields, use digital people and artificial intelligence technology to empower medical business scenarios and apply it to the management of chronic diseases such as diabetes, creating new value for next-generation medical digital solutions.
The Group has always been committed to implementing corporate values combining digitalization and inclusiveness. This investment cooperation with strategic partners also provides a good opportunity for the Group to lay out the field of digital intelligence in healthcare management. Therefore, the board of directors believes that entering into a joint venture agreement is in the overall interest of the company and its shareholders.