According to Chinese company profiles platform Tianyancha on November 12th, Beijing Dou Shen Zhichuang Technology Co. Ltd. was established by Beijing Zhipu Huazhang Technology Co. Ltd. and other firms.
This joint venture is primarily owned Doushen Education and focuses on information technology and software services. It has a registered capital amounting to 500 million RMB. The company’s activities include cloud computing, AI software development and 5G communication.
The establishment is the result of a strategic agreement signed on 25th October, which aims to develop and market AI education products. Recently, Dou Shen Education’s stock value has seen a significant increase.
The joint venture is owned by Beijing Lisichen Hezhong Technology Co. Ltd., a sub-company of Doushen Education. The remaining shares are divided between Beijing Zhipu Huazhang (25%), and Hainan Hezun Network Technology (5%)
Beijing Zhipu Huazhang, Hainan Hezun, and other shareholders may request the buyback of their stock if Doushen Education reaches certain financial milestones. This move is in line with Doushen Education’s commitment to AI and market growth.
Doushen Education reported a financial revenue of 226 million RMB for the third quarter this year, a 28.93% year-on-year increase. The net profit attributable by the company to its shareholders has also seen a significant increase, reflecting a positive trend.
Doushen Education continues to focus on expanding its AI offerings and strengthening its position in the market despite recent fluctuations in its share price.
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