IntelliMark AI International Forms Joint Venture with Nanjing Zhongke to Develop Anti-Counterfeiting Technology in China
IntelliMark AI International Limited has announced that its wholly owned subsidiary, Luxey HK, has entered into a joint venture framework agreement with Nanjing Zhongke. Under the agreement, a new joint venture company will be established in Mainland China, with Luxey HK holding a 51% stake and Nanjing Zhongke holding 49%. The joint venture will focus on the development and sale of anti-counterfeiting technology products in the Chinese market. Nanjing Zhongke is controlled by Mr. Zhang Weihong, IntelliMark AI's chairman and executive director, making this a connected transaction under Hong Kong's GEM Listing Rules. The agreement is exempt from shareholders' approval and additional disclosure requirements according to GEM regulations.
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