ZHONGAN SERVICE (02271) has announced that its indirect wholly-owned subsidiary, Zhejiang Zhongan Smart Technology Co., Ltd. (Zhongan Smart Technology), entered into a joint venture framework agreement with AIROBO (Chengdu) Technology Co., Ltd. (AIROBO) on August 25, 2026. The partnership will see both parties jointly establish a joint venture company focused on delivering robot operations services for property and community scenarios, leveraging their complementary business strengths.
Under the framework agreement, Zhongan Smart Technology and AIROBO have agreed to collaborate on several key fronts. The registered capital of the joint venture will be RMB 20 million, with Zhongan Smart Technology contributing RMB 12 million for a 60% stake and AIROBO investing RMB 8 million for the remaining 40%. Both parties will inject capital in cash, with funds to be contributed in batches over a five-year period following the establishment of the joint venture.
The joint venture will be positioned as a robot operations service platform for property and community settings, with business scope covering robot operations services such as delivery, cleaning, security patrols, and equipment inspections. It will also engage in robot operations platform construction and services, comprehensive robot solution offerings, and value-added services including platform services, robot services, and data interfaces. Through a business model combining robot equipment, operations platforms, and scenario-based services, the joint venture aims to deliver sustainable and replicable robot operations solutions for the property industry.
In terms of governance, the joint venture's board will comprise three directors, with Zhongan Smart Technology appointing two directors and holding the chairmanship, while AIROBO will appoint one director. The general manager will be nominated by AIROBO, and the financial officer will be nominated by Zhongan Smart Technology.
Regarding intellectual property, AIROBO's existing robot operations platform, underlying technical architecture, and software systems remain its core assets. The joint venture will only receive usage rights within the scope of cooperation, without any transfer of ownership. Any new intellectual property created by the joint venture will be owned by the joint venture itself.
Through this joint venture, both parties will integrate resources and leverage synergies to jointly expand the property and community robot operations market, enhancing their competitiveness in China and other potential markets. AIROBO is a leading robot operations platform service provider dedicated to building robot operations platforms and unified operations networks, offering robot integration, scheduling, and operations management services for property and community scenarios. AIROBO (Chengdu) Technology Co., Ltd. is an indirect non-wholly-owned subsidiary of Hongyi Culture Group.
The board believes that establishing this joint venture will bring more promising business opportunities to the group, allowing it to capitalize on the respective strengths and resources of both the group and AIROBO. AIROBO is a leading service provider in the robot operations platform sector, while the group possesses extensive property management and community service scenario resources in China. By forming this joint venture, the group can combine AIROBO's robot operations platform and technical capabilities with the group's property and community scenarios to expand its smart property and robot operations services business, promoting diversified business development in the best interests of the company and its shareholders.