[ET Net News Agency, 6 September 2018] KuangChi Science (00439) said it has entered
into a non-legally binding memorandum of cooperation (MOC) with an information
communication technology company in Xiong'an of the PRC (Xiong'an Industry Research
Institute).
Xiong'an Industry Research Institute will integrate with Research Institute in Beijing
with aim to achieve in-depth synergy in order to build an innovative system that deeply
integrates industry, learning and research, and an open and shared research and
development ecology, as such contributing to the construction of a smart city in Xiong'an
New Area, located in Baoding area of Hebei, PRC.
The parties shall cooperate through various ways, including jointly promote the
development of 5G technology and cross-industry innovation for smart city, collaborate to
tackle key technological issues and establish new business locations, and facilitate the
implementation of research outcomes into practice.
The company is responsible for the production and provision of super intelligent system
for smart city and its related products and technical support for facial analysis based on
artificial intelligence. Moreover, the company has assumed responsibility in providing
front line demonstration and the implementation of research project in Xiong'an. (SC)