ENTERPRISE DEV (01808) signs a strategic cooperation agreement with Hikvision.

ENTERPRISE DEV (01808) announced on November 15, 2024 (after trading hours) that the company has entered into a strategic cooperation agreement with Suzhou Tiantong Vision Electronic Technology Co., Ltd. (Tiantong Vision). According to the agreement, both parties have agreed to cooperate in various aspects, including the commercialization of L4 level autonomous driving technology in autonomous vehicles, and the joint establishment of a 2000P computing power intelligent computing center to support model training and operational needs. The group will mainly be responsible for operations in intelligent driving services and intelligent computing services, while Tiantong Vision will be responsible for technology research and development and maintenance. Both parties will jointly apply for licensing for the implementation and commercialization of unmanned driving technology in key cities in Hebei Province. The proposed intelligent computing center will serve the business needs focused on this strategic cooperation in Hebei Province, as well as training and remote control needs for Tiantong Vision's ongoing unmanned driving projects in multiple locations, and AI training needs for L2-L3 level ADAS systems. The strategic cooperation will further leverage the respective professional and resource advantages of both parties. On one hand, the group can utilize Tiantong Vision's resources and experience in intelligent driving to enhance the competitiveness of the group's business. On the other hand, Tiantong Vision will benefit from the industry resources and rich experience of the group in data, intelligent computing, and edge computing, which will help expand its business in the intelligent driving industry. The strategic cooperation is an important attempt for the group to extend its intelligent computing business into a new industrial ecology. The contracting parties will not only achieve synergistic growth in their respective businesses through cooperation, but also promote industry technological innovation and urban industrial upgrade on a larger scale, bringing new market opportunities and commercial value to both companies.