BJ ENT URBAN (03718) plans to establish a joint venture to strategically expand into outdoor cleaning services with Siasun Robot & Automation.

BJ ENT URBAN (03718) has announced that on June 23, 2026, the company, along with Shenzhen 1024 Siasun Robot & Automation Technology Co., Ltd. (1024 Siasun Robot & Automation) and Dr. He Zhijian (Dr. He), have entered into an investment cooperation framework agreement to establish a joint venture enterprise in the People's Republic of China. The joint venture enterprise will be owned 66.7% by the company and 33.3% by 1024 Siasun Robot & Automation. Each party to the agreement will contribute capital to the joint venture according to their shareholding in the registered capital. The joint venture enterprise will become a non-wholly owned subsidiary of the company, and its performance will be included in the group's financial statements. The business activities of the joint venture enterprise will include the research, development, production, and manufacturing of outdoor cleaning Siasun Robot & Automation. The Board believes that establishing the joint venture enterprise will enable the group to create competitive outdoor cleaning Siasun Robot & Automation products, achieve large-scale production and profitability, and ensure a return on investment for each party to the agreement. The framework agreement is an important strategic initiative for the business development of the group and is expected to expand its business portfolio. After the establishment of the joint venture enterprise, the company expects the cleaning Siasun Robot & Automation business to become one of the main business segments of the group in the future. Therefore, the Board believes that entering into the framework agreement is in the overall interest of the company and its shareholders. The framework agreement will come into effect after relevant approvals or filings are obtained from the State-owned Assets Supervision and Administration Commission of the State Council (or state-owned enterprises authorized by the commission) for the joint venture enterprise.