China's National Cultural Industry (00745) affiliate and Fireverse signed a memorandum of understanding to cooperate in the fields of artificial intelligence generation music, artist discovery and co-creation, and live concert and performance business

Zhitong Finance App News, China National Cultural Industry (00745) issued an announcement. On September 8, 2026, Chic Culture Corporation Limited (Chic Culture), an indirect wholly-owned subsidiary of the company, and FIREVERSE Ventures Limited (Fireverse) signed a non-legally binding memorandum of understanding on proposed strategies in the fields of artificial intelligence generation music, artist discovery and co-creation, and live concert and performance business Cooperation.

The two sides plan to cooperate on three business pillars: (a) Jointly launch an AI-generated music content platform — Chic Culture will lead the platform's operation execution, marketing, user acquisition, brand positioning, commercialization, and financial management and budget, while Fireverse will be responsible for the design, hosting, maintenance and supply of the platform's core AI music technology, including technology development, system scalability, distribution channel support and algorithm optimization; (b) artist discovery and AI co-creation — Fireverse will search, engage and support artists With the addition of producers and creators, the two sides will facilitate co-creation projects combining the talents of live artists with AI music generation technology, including live and virtual performances, interactive music experiences, and digital intellectual property distribution; (c) concert and live performance business — the two sides will jointly organize, produce and promote concert experiences incorporating AI-driven music content, immersive visual technology, and live music production.

The Group plans to develop and enhance its existing advertising and e-commerce business, including entertainment-related projects, short video on demand, and AI-generated music, video and games. The Board believes that the proposed collaboration is in line with the above strategy and is a further step in implementing the strategy. Specifically, the Board believes that (i) the proposed cooperation will enable the Group to obtain AI music generation technology and technology platforms without the Group's own internal development, thereby shortening the time required for development and reducing technical risks; (ii) the Group's existing capabilities in design, digital advertising, marketing, and e-commerce operations complement Fireverse's technical capabilities, and can be applied to user acquisition, brand positioning and monetization of the proposed platform; (iii) the proposed artist recruitment, co-creation and live elements can create additional content and revenue opportunities It also complements the Group's film and entertainment-related businesses.