U-Best announced a joint research with Muxi Group on the development of body intelligent edge chips.

On June 12th, Muxi Group and UBTECH signed a strategic cooperation agreement in Nanjing to jointly establish Xixuan Innovations Technology Co., Ltd. to focus on the research and development and mass production of intelligent chips. Public information shows that Xixuan Innovations has a registered capital of 100 million yuan, jointly established by Muxi Group, UBTECH, and Fenglong Group, all listed companies. Muxi Group and UBTECH each hold 35.01% of the shares, ranking as the largest shareholders, while Fenglong Group holds 4.7%. Chen Weiliang, Chairman of Muxi Group, will serve as the Chairman of the company, UBTECH Founder, Chairman of the Board, and CEO Zhou Jian will serve as Vice Chairman, and Yang Xianbo, former Senior Vice President of New H3C, Industry BG President, will serve as CEO, responsible for the company's strategic implementation, technical R&D, and market operation.