Shengyang Corporation: Plans to Establish a Joint Venture Company to Develop and Expand Business in the HarmonyOS Ecosystem.

On the evening of August 22, Shengyang Co., Ltd. announced that it plans to jointly invest in the establishment of Open Harmony Digital Technology Co., Ltd. with Shandong Development Investment Holding Group Co., Ltd., Shandong Development Technology Investment Co., Ltd., Shandong Expressway Bridge Investment Management Co., Ltd., and Shenzhen Kaihong Digital Industry Development Co., Ltd., to layout business in the Open Harmony ecosystem. The registered capital of the joint venture company is 50 million yuan, of which the company plans to contribute 5 million yuan in self-owned funds, holding a 10% stake.