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PHANCY Invests HKD200M+ to Join Stake in HUANXI MEDIA for Strategic Co-op in AI Film/ Television Production
PHANCY (06682.HK) announced that it has entered into a strategic cooperation and joint venture framework agreement with HUANXI MEDIA (01003.HK). The parties intend to establish a s...
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PHANCY Invests HKD200M+ to Join Stake in HUANXI MEDIA for Strategic Co-op in AI Film/ Television Production
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PHANCY (06682.HK)  +3.500 (+11.232%)    Short selling $23.95M; Ratio 5.784%   announced that it has entered into a strategic cooperation and joint venture framework agreement with HUANXI MEDIA (01003.HK)  -0.001 (-0.405%)   . The parties intend to establish a strategic partnership, through the establishment of a joint venture as a cooperation platform, by combining the Company’s expertise in AI with HUANXI MEDIA’s industrial strengths in the film and television sector. This collaboration will focus on data cooperation and joint exploration of large model technologies in areas such as film and television production, interactive entertainment, game development, and intellectual property-related derivative products.

The parties will potentially cooperate in data cooperation, and Huanxi Media shall provide relevant data for AI solutions and model training in the film and television sector; foster development of large models and Agents for the film and television sector; explore the implementation of AI solutions in the new cultural and entertainment sector; utilize AI technology for joint production and creation of film and television content, as well as diversified derivative development of related intellectual properties; and more. HUANXI MEDIA intends to use the large model API access on the Company's platform and will pay service fees based on Token consumption. Within three years after the framework agreement takes effect, the total target service fee based on Token consumption is expected to be no less than USD200 million.

In addition, the Company's wholly-owned subsidiary Phancy International entered into a large model API service framework agreement with HUANXI MEDIA, under which Phancy International will provide the HUANXI MEDIA with various Large Model API services at a total price of USD20 million. The API Services Framework Agreement is valid for two years.

Phancy International also subscribed for 731 million shares of HUANXI MEDIA, representing approximately 14.3% of HUANXI MEDIA's enlarged share capital, at HKD0.275 per share, which was the same as HUANXI MEDIA's closing price yesterday (19th), involving more than HKD200 million.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-22 16:25.)

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