HK Stock Market Move | CHINA BEST (00370) opens more than 14% higher, plans to establish a joint venture with Dathath to develop Siasun Robot & Automation humanoid operating system civilian products market.

CHINA BEST (00370) opened more than 14% higher, as of the time of drafting, it is up 14.58% at 0.55 Hong Kong dollars, with a trading volume of 59,400 Hong Kong dollars. On the news front, CHINA BEST announced a cooperation framework agreement with the artificial intelligence unicorn company, Dathoo. The company and Dathoo plan to establish a joint venture in Hong Kong and collaborate on the relevant technology and products of the humanoid Siasun Robot & Automation. The joint venture aims to develop the civilian product market of the humanoid Siasun Robot & Automation operating system. CHINA BEST and Dathoo will hold 51% and 49% equity in the joint venture respectively. The Board of Directors believes that the signing of the framework agreement is beneficial for both parties to fully utilize their strengths in different areas to jointly expand the business related to the humanoid Siasun Robot & Automation. The joint venture is planned to be established in Hong Kong, which will better cooperate with Mainland China and Hong Kong in the direction and industrial policies of Shenzhen New Industries Biomedical Engineering, and Hong Kong's unique advantages will also provide good opportunities for the implementation of business development.