Elate Holdings Limited (Elate) announced that its wholly owned subsidiary, Cityhill Limited, has entered into a five-year cooperation agreement with Han Carvestone International Limited to build and operate an artificial-intelligence-enabled trading platform.

The platform will be rolled out in two phases: 1. Phase 1 targets global bulk trading of graphite products, aiming to attract both buyers and sellers worldwide. 2. Phase 2 will concentrate on Asia-focused consumer logistics, enlisting restaurants and supermarkets as suppliers while partnering with regional or international internet service and logistics providers to broaden market reach.

Under the agreement, Cityhill will fund and manage platform establishment and operations, whereas Han Carvestone will supply technical support. Profit distribution is set at 65 % to Cityhill and 35 % to Han Carvestone.

The agreement is characterized as a framework arrangement; detailed commercial terms have yet to be defined, and there is no assurance the cooperation will generate substantive revenue. Any subsequent transactions that fall under Chapter 14 of the Hong Kong Listing Rules will trigger further disclosure.

Shareholders and potential investors are advised to exercise caution when dealing in Elate’s shares.