Pan Asia Environmental Protection (00556) issued an announcement, and the company began entering the artificial intelligence industry. In order to further enrich the business portfolio and benefits...
Zhitong Finance App News, Pan Asia Environmental Protection (00556) issued an announcement, and the company began entering the artificial intelligence industry. To further enrich its business portfolio and utilize cutting-edge technology, the company and two joint venture partners set up a subsidiary in the United States of America to develop the Web 3.0 business and AI business, thereby expanding the global business. This marks the beginning of the Group's strategic entry into the advanced technology industry.
Regarding the Web 3.0 business, the Group will initially focus on decentralized disaster recovery storage solutions. To support the operation of the business on the Web 3.0 infrastructure, the Group plans to purchase digital assets worth approximately $20 million. Regarding the AI business, the Group plans to work with joint venture partners to provide technical services and solutions for AI computing.
Guo Jiannan has resigned as CEO of the company due to his intention to focus on the duties and responsibilities of the chairman of the board of directors and the company's executive director, effective April 12, 2024. Mr. Guo will continue to serve as Chairman and Executive Director.
Zhu Duke Li, one of the partners in the joint venture, will join the company as Executive Director and CEO, effective April 12, 2024.