Cybertron International Holdings (01020) announced that on April 13, 2024, PTF, a subsidiary of the company, and North...
Zhitong Finance App News, Cybersecurity International Holdings (01020) announced that on April 13, 2024, PTF, a subsidiary of the company, signed a memorandum of understanding with Northern Equipment on proposed cooperation.
According to reports, Beidou Equipment is a wholly-owned subsidiary of China North Industries Co., Ltd., and is mainly engaged in disaster mitigation and rescue equipment, smart safe cities, and overseas applications of the Beidou satellite navigation system (Beidou system). The North is equipped as a national team promoting the Beidou system along the “Belt and Road”. PTF is a Hong Kong-based investment holding company focused on expanding market opportunities for communication, navigation and remote sensing satellite technology products and solutions in Hong Kong, Southeast Asia and the Middle East. It is committed to providing customized intelligent technology solutions according to customer needs, including different types of satellite positioning terminals (mainly compatible with the Beidou system) and customized spatio-temporal intelligence solutions based on high-precision positioning.
According to the memorandum of understanding, the contracting parties intend to jointly establish the “Beidou Global Application Hong Kong Research Institute” in Hong Kong to carry out the construction of Beidou system ground enhancement stations and commercial applications in the field of geospatial information, including but not limited to high-precision mapping, smart agriculture, smart terminals, smart fishing, smart water conservancy, disaster prevention and emergency rescue, smart driving, smart cities, etc.
The company believes that the signing of a memorandum of understanding with Northern Equipment will strengthen business cooperation with Northern Equipment; this will affect the Group's future development of high-precision positioning service markets in Hong Kong and Southeast Asia.