BAIWANG CO (06657) announced on September 14, 2026, that it has entered into an investment agreement with Qichacha Technology, Yancheng Hongqiao, and Suzhou Baisheng to jointly establish a joint venture focused on developing enterprise credit technology and service operations.
Under the agreement, the joint venture will have a registered capital of RMB 15 million. BAIWANG CO will contribute RMB 3 million in cash, representing a 20% stake in the joint venture. Qichacha Technology will inject RMB 7.65 million in cash for a 51% ownership share, while Yancheng Hongqiao will contribute RMB 1.995 million in cash, accounting for 13.3% of the registered capital. Suzhou Baisheng will invest RMB 2.355 million in cash, holding a 15.7% interest.
The proposed joint venture is designed to operate independently as an enterprise credit technology and service company targeting the Chinese market. Its business scope will encompass enterprise credit profiles, credit scoring and rating systems, credit risk monitoring, commercial credit reporting, credit decision-making tools, and related data products.
Qichacha Technology is a well-established player in the commercial data inquiry sector, boasting mature product development capabilities, robust data governance frameworks, and advanced data mining technologies. The company covers multi-dimensional data spanning business registration, judicial proceedings, intellectual property, public opinion monitoring, financial data, and equity penetration analysis, supported by a vast individual user base and significant market recognition.
Meanwhile, BAIWANG CO has long been dedicated to fiscal and tax digitalization alongside data-driven enterprise analysis services. With over a decade of tax data accumulation, the company possesses proprietary tax, consumption, and social security data assets characterized by high uniqueness and strong compliance barriers, complemented by mature and stable channel systems.
Where to begin with this development? The board believes this collaboration will create substantial synergies. By combining Qichacha Technology's commercial data, product development expertise, data governance, and mining capabilities with BAIWANG CO's fiscal and tax transaction data strengths, enterprise customer channels, and application scenarios, the joint venture can develop innovative credit products. This initiative is expected to broaden the application landscape for enterprise credit technology and related data offerings, promote resource complementarity among all partners, and enable BAIWANG CO to share in the potential growth returns of the venture while maintaining a controlled investment commitment.