Jifeng Technology subsidiary collaborates with China Telecom Hubei and United Aircraft to jointly establish a low-altitude economy industrial ecosystem.

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【Shenzhen News】Jifeng Sannong Technology Service Co., Ltd. (Stock code: 300022,简称 “Jifeng Technology”) announced on March 18 that its wholly-owned subsidiary Jifeng Low Altitude Technology (Hubei) Co., Ltd. (简称 “Jifeng Low Altitude (Hubei)”) recently signed a “Strategic Cooperation Agreement” with China Telecom Hubei Branch (简称 “China Telecom Hubei”) and Shenzhen United Aircraft Technology Co., Ltd. (简称 “United Aircraft”). The three parties will cooperate comprehensively in the low-altitude economy field, jointly promoting the construction of Hubei Province Low-Altitude Economy Demonstration Zone, industry application promotion, and infrastructure verification.

The announcement states that this cooperation aims to focus on key areas of the low-altitude economy, create industry digitalization benchmarks, expand the information technology market, and promote integrated operations of the low-altitude economy industry. It will empower various sectors of society and support the construction of Digital Hubei. The cooperation covers four main areas: demonstration base construction for drone applications, expansion of large-scale applications in the low-altitude economy industry, provincial agency cooperation for agricultural plant protection drones, and verification of low-altitude infrastructure and equipment performance.

Background of Partners and Cooperation Model

According to the announcement, China Telecom Hubei, as a basic telecom operator, has advantages in DICT infrastructure and network resources; United Aircraft, controlled by Mr. Tian Gangyin, the actual controller of Jifeng Technology, has technical accumulation and industry implementation advantages in the low-altitude economy field; Jifeng Low Altitude (Hubei) serves as an important platform for Jifeng Technology’s low-altitude economy deployment. The three parties will collaborate through standard product cooperation, project cooperation, and scientific research innovation.

Analysis of Key Cooperation Content

In terms of specific cooperation, the three parties plan to jointly build drone application demonstration bases, promote the construction of low-altitude economy demonstration zones at the county and district level in Hubei Province, covering top-level planning for low-altitude economy, drone procurement, infrastructure for low-altitude intelligent networking, flight service stations, and big data intelligent computing centers.

Notably, United Aircraft has authorized China Telecom Hubei to be its strategic partner for agricultural plant protection drones and related products and services within Hubei Province, enjoying provincial agency pricing and support. China Telecom Hubei will leverage its provincial network infrastructure and channels to form a promotion team with United Aircraft and Jifeng Low Altitude (Hubei), focusing on promoting large-scale applications of agricultural plant protection drones in smart agriculture and integrated pest management within Hubei.

Additionally, the three parties will deepen cooperation in key areas such as emergency rescue, firefighting, logistics, comprehensive governance, and urban inspection in the low-altitude field, and jointly verify infrastructure and equipment performance.

Cooperation Mechanism and Risk Reminder

The announcement states that the three parties will establish mechanisms for high-level consultation, joint working groups, and a list of cooperation matters to ensure smooth implementation. The agreement is valid for three years and takes effect upon signature and official seal by the legal representatives (or authorized agents) of all parties.

Jifeng Technology states that this cooperation will help the company and its subsidiaries leverage advantages in communication infrastructure, integrated information services, drone technology, and more, to expand the industry scale of low-altitude economy and create new profit growth points. However, it also notes that this is a framework agreement, not involving specific amounts or rights and obligations. Formal cooperation agreements will be signed later, with details on timing, amounts, and progress subject to significant uncertainty. The company’s entry into the low-altitude economy may face challenges such as technological, market, policy changes, and industry competition, and the execution of contracts and their impact on performance are uncertain.

Performance of Previous Framework Agreements

Jifeng Technology emphasizes that the signing of this agreement will not have a significant impact on the company’s financial status or operating results for this year. Future performance will depend on the progress of subsequent cooperation projects. The company will disclose relevant information in a timely manner as developments occur.

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