Little Yellow Duck Deying (02250) is affiliated to establish a joint venture to develop AI computing power and IP integration business

According to Zhitong Finance App, Little Yellow Duck (02250) announced that on November 5, 2026, the company signed a shareholders' agreement (shareholder agreement) between the wholly-owned subsidiary Deying Holdings Investment Co., Ltd. (Deying Holdings) and Hong Kong Haixin Lihua Technology Co., Ltd. (a joint venture partner, a limited company registered in Hong Kong) to establish and operate a joint venture (joint venture company) in Hong Kong. The joint venture partners are mainly engaged in the trading business of computer components, computing power servers and modules. As of the date of this announcement, the joint venture has not been established, and the joint venture partner and its ultimate beneficial owner are all third parties independent of the Company and its related parties.

According to the shareholders' agreement, Deying Holdings and its joint venture partners will subscribe for 55% and 45% of the joint venture's issued shares respectively. The joint venture will be recorded as a subsidiary of the Company, and its financial results will be comprehensively included in the Group's financial statements.

The joint venture will engage in artificial intelligence and intellectual property (AI+IP) business, including R&D, manufacturing, sales and distribution of intelligent hardware and robotics products, full-machine servers and computing power chip modules, intellectual property licensing and content operation, and technical services related to computing power. As part of the arrangement, the Group will grant the joint venture the right to use the “B.Duck” brand, its IP matrix, content and brand resources, and channel resources. The joint venture partner will invest in artificial intelligence, computing power (including the whole machine server and computing power chip module) and intelligent hardware technology capabilities, as well as its core team, and will be responsible for the daily operation of the joint venture through its nominated general manager.

The board of directors believes that the establishment of the joint venture represents the Group's renowned B. Duck IP matrix and brand operation expertise. It combines the artificial intelligence technology, computing power and hardware engineering capabilities of the joint venture partners, covering the entire value chain from product design and artificial intelligence technology to hardware manufacturing, marketing and sales channels. The purpose of this collaboration is to explore the commercial application of IP assets in scenarios such as generative artificial intelligence (AIGC) software, intelligent hardware and robots, and to cultivate potential AI and IP-related software, computing power hardware and services, and artificial intelligence-related revenue in addition to the Group's IP licensing revenue. The board of directors further believes that the establishment of a joint venture will help the Group seize the growth opportunities brought about by the transformation of AI technology and the commercialization of IP, thereby promoting the gradual implementation of the Group's “AI+IP” strategic layout.