STAR CM (06698) announced on November 13, 2025, that its indirect wholly-owned subsidiary, Shanghai Jiuwu Yisheng, has entered into a joint venture agreement with a partner (Beijing Wujie Yinchang Culture Media Co., Ltd.). The agreement outlines the establishment of a joint venture company to develop and operate AI music business in China.

Under the terms of the agreement, Shanghai Jiuwu Yisheng will invest a total of RMB 115 million, with RMB 320,000 allocated as registered capital of the joint venture and RMB 114.68 million directed to its capital reserve. The joint venture partner will invest RMB 244 million, including RMB 680,000 as registered capital and RMB 243.7 million as capital reserve.

Upon establishment, the joint venture will be 32% owned by Shanghai Jiuwu Yisheng and 68% by the partner, making it a non-wholly-owned subsidiary of the latter. The collaboration leverages the complementary strengths of both parties, integrating content resources and technological capabilities to enable data-driven, large-scale personalized AI music creation.

This move represents a strategic step for both parties to secure a competitive position in the AI music industry, fostering mutual benefits in content and technology.