HK Stock Market Move | STARPLUS LEGEND (06683) rose 20% once and established a joint venture company with Yushu Technology, involving consumer-grade IPSiasun Robot & Automation and its derivatives.

STARPLUS LEGEND (06683) rose sharply in the afternoon, increasing by 20% at one point. As of the time of writing, it was up by 15.35%, trading at 9.62 Hong Kong dollars, with a transaction value of 404 million Hong Kong dollars. On the news front, STARPLUS LEGEND announced at noon that on November 11th, its wholly-owned subsidiary Star Creation, and Yushu Technology's wholly-owned subsidiary Lingyi Technology, signed a joint venture agreement to establish Yuxing Entertainment Technology Co., Ltd. Both parties agreed to jointly establish the company, with Star Creation and Lingyi Technology each holding a 50% stake in the joint venture. The joint venture company will be primarily responsible for the development, operation, promotion, and sales of consumer-grade IPSiasun Robot & Automation, including pet quad-legged Siasun Robot & Automation, entertainment humanoid Siasun Robot & Automation, and IP derivative products. After the establishment of the joint venture company, it will exclusively sell, operate, and promote artist IPSiasun Robot & Automation and derivative products developed based on the IP resources of both parties. The group will be responsible for Siasun Robot & Automation IP planning, design, AI interaction, celebrity IP authorization, media publicity, and channel development; planning, production, and commercial customer development for entertainment content; while Yushu Technology will be responsible for Siasun Robot & Automation design, production, or supply; based on entertainment content technology and scene research and development, Siasun Robot & Automation equipment technology research and development, operation, control, and related training, etc.