Bigao Group (08220.HK) plans to set up a joint venture to carry out augmented reality digital live role-playing game business.

財華社 ·  01/11/2022 10:36

[Caihua Social News] Bigao Group (08220.HK) announced that on December 23rd, the company entered into a framework agreement with the "Business partner" of Guangzhou Jiu Culture and Technology Co., Ltd., under which the parties agreed to negotiate in good faith to enter into a formal legally binding agreement on the establishment of a joint venture company to carry out business cooperation related to the development of the augmented reality digital role-playing game "LARP".

According to the framework agreement, the company and business partner agreement will establish a joint venture company in Guangzhou, China, which will be owned by 51% and 49% respectively by the company and business partners.

The company believes that potential cooperation with business partners will create synergies between the advantages of the contracting parties and will be an opportunity for the company to enter the growing LARP market and hot augmented reality and virtual reality applications.

The framework agreement may not lead to the conclusion and / or completion of any formal agreement, and the potential business cooperation may not be substantiated.

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