NetDragon sets up AI joint venture with Jiuzhou Culture, taking 51% stake
NetDragon signed a binding MOU with Jiuzhou Culture to form a joint venture focused on AI Harness and AIGC technology, with a 51% controlling interest.
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what happened
Hong Kong-listed NetDragon Websoft Holdings said it signed a legally binding memorandum of understanding with Jiuzhou Culture, a Chinese producer and distributor of AIGC short dramas, to set up a joint venture. NetDragon will contribute cash equivalent to RMB 50 million, hold 51% of the venture and consolidate its financial results.
Jiuzhou will transfer to the venture all intellectual property, technologies and assets tied to the AI Harness system. NetDragon will also issue 25 million unlisted warrants at HK$0.10 each, exercisable only once specified performance targets are met. If all warrants were exercised at initial prices, the company would receive about HK$314 million.
why it matters
The deal reflects NetDragon's push to make AI its third growth engine rather than a market-wide event. Investors will watch the deal size and the performance conditions attached to the warrants, which depend on the venture's future results.
market impact
NetDragon shares: signals a bigger AI focus and new consolidated business, with limited effect on broader markets
tags
instruments
sources
- NetDragon Partners with Jiuzhou Culture to Establish Joint Venture — TradingView, 20 October 2026 at 02:50 UTC
- NetDragon Partners with Jiuzhou Culture to Establish Joint Venture — TradingView, 20 October 2026 at 02:59 UTC
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