BINGO GROUP (08220) plans to cooperate with Kai Sing Network to promote the development of generative artificial intelligence gaming business through a joint venture.

BINGO GROUP (08220) announced that on February 13, 2025 (after trading hours), its indirect wholly-owned subsidiary, Huichi (Shanghai) Investment Consulting Co., Ltd., has entered into a non-legally binding memorandum of understanding with Hangzhou Kaixing Network Technology Co., Ltd. (Kaixing Network). According to the memorandum of understanding, the Group intends to cooperate with Kaixing Network to promote generative artificial intelligence gaming business through a joint venture. The joint venture, to be established in China, will be owned 15% by the Group and 85% by Kaixing Network. The announcement stated that establishing the joint venture will allow the Group to leverage Kaixing Network's experience and resources to explore generative artificial intelligence technology and related fields. As AIGC can enhance the product diversity of the Group's main business in film and television, the board of directors believes that the exploration is in line with the overall interests of the company and shareholders.