The company said in a stock market announcement that it would either be in the form of a joint venture between the Parties, or the purchase of a stake in Dragon Net from Zhou Qi Jun, who is the majority shareholder, with a 90% share.
In giving its rationale for the move, Courage Investment said that as the company is involved in the provision of marine transportation services, property holding and investment, investment holding and merchandise trading, Dragon Net's technology could be applied to certain principal activities of the group, such as marine transportation services and merchandise trading.
Dragon Net is principally engaged in the research and development of blockchain technology, as well as asset digitisation and exchange platforms. The company has recently entered into a preliminary agreement to acquire the financial technology platform and data of a US company.
This "could therefore improve management efficiency, enhance security and lower information management costs," Courage Investment said. It is expected that the development of the group’s business into blockchain technology through the possible cooperation can broaden the group’s income base and provide a stable recurrent income for the group and thus enhancing the group's financial performance, it added.
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