Recently, Baidu VR was informed by the announcement of Qingdao City Media Co., Ltd. that its subsidiary, Qingdao Digital Time Media Co., Ltd. and Hongda Communications Co., Ltd., a wholly-owned subsidiary of HTC Mainland, signed the "Memorandum of Cooperation" (hereinafter referred to as "this agreement"). "). Through the respective advantages of both parties to create a VR reading and innovation education demonstration platform.
HTC cooperates with Qingdao City Media
Qingdao City Media is mainly engaged in the publication and distribution of books, periodicals, electronic audio and video publications, as well as the development and operation of new media. The city features publishing and media companies with regional and local competitive advantages. It currently owns Qingdao Publishing Co., Ltd. and Qingdao Xinhua. There are 14 holding stock companies such as Bookstore Co., Ltd., which cover publications, distribution, logistics, and publishing companies that integrate editing, printing, distribution, supply, and trade.
Qingdao City Media
HTC Communications Co., Ltd. has been focusing on the layout of the virtual reality (VR) market in recent years. At the end of February 2016, it launched its first VR head display, the HTC Vive. Until now, its market share has ranked first in the VR industry. In addition, The company has been cooperating with the outside world and constantly improving its own ecosystem, promoting innovation in the VR industry and making progress together with industry partners. Its HTC Vive, VIVE tracker, VIVE smart headband and VIVEPORT developer version of the four major products, whether from the hardware to the software / content submitted a good score.
Vivepaper
Qingdao City Media seems to see the dawn of the virtual reality market. Combining its own advantages such as content publishing and distribution, it hopes to develop VR content through HTC's Vivepaper platform SKD, and develops VR content through channels such as the Vivepaper platform. It is understood that HTC The VR content area of ​​“Reading and Innovation Education†will be opened on the Vivepaper platform. Qingdao City Media hopes to provide innovative reading modes and VR to primary and secondary schools, high vocational colleges, libraries, and Xinhua Bookstores in key cities in China through the Vivepaper platform. content.
The following is an announcement made by Baidu VR through the signing of a cooperation memorandum by Qingdao City Media Co., Ltd. concerning the holding subsidiary and Hongda Communication Co., Ltd.:
The board of directors and all directors of the company guarantee that the content of this announcement does not contain any false records, misleading statements or major omissions, and assumes individual and joint liability for the truthfulness, accuracy and completeness of its contents.
Important content tips:
• The main business income of the company mainly comes from book publishing and distribution business. At present, the VR business is still in the initial stage of R&D, which has no direct impact on the company's operating income.
This agreement is the result of negotiations between the parties regarding the cooperation intention and the principle of cooperation. A specific business cooperation agreement needs to be signed when the specific project is carried out. The rights and obligations of both parties shall be based on the specific business cooperation agreement.
• There is a risk that the project will have unfavorable operations, adjustments or termination of cooperation.
· It is expected that this agreement will have no direct impact on the company's 2017 operating results.
First, the basic situation of the signing of the agreement
(I) Qingdao Digital Media Co., Ltd., a holding subsidiary of Qingdao City Media (10.690, -0.33, -2.99%) Co., Ltd. (hereinafter referred to as the "Company") (hereinafter referred to as "Digital Time") on March 27, 2017. ) HTC Communications Co., Ltd., a wholly-owned subsidiary of HTC in mainland China (hereinafter referred to as "Hongda Communication"), has signed a "Memorandum of Cooperation" in Shenzhen (hereinafter referred to as "this agreement"). The two parties will play their respective advantages and build a "VR reading and innovation education demonstration platform."
(b) The other party to the agreement
Company Name: Hongda Communication Co., Ltd.
Legal representative: Dong Junliang
Registered capital: US$127.5 million
Registered place: South side, second floor, No.1000, Xinmiao Village, Kangqiao Town, Pudong New Area, Shanghai
Business Scope: R&D, design, production of mobile phones, wireless mobile user terminals, wireless data terminals, wireless multimedia terminals, and related parts and components, components, accessories and accessories, software, sales of self-produced products, and related technical consulting services Web page design and development; communications products, audio, video and audio-visual equipment, computer hardware and software and computer peripherals, three network integrated machine, set-top box, electronic products (including semiconductor), digital products, photographic equipment and film products, and the aforementioned products Relevant parts and components, components, accessories and accessories, software research and development, design, transfer of own technology achievements, provision of related technical services, and technical consultation; above-mentioned and similar products wholesale, online retail, commission agency (except auction), import and export, Related supporting services; corporate management consulting, investment consulting. (Do not involve state-run trade management, which involves quotas, license management of goods, according to the relevant provisions of the state to apply; projects subject to approval in accordance with law, approved by the relevant departments can not carry out business activities).
Hongda Communications has no connection with the company.
(3) According to the "Articles of Association" and related regulations, the signing of this agreement need not be submitted to the board of directors and the general meeting for deliberation. After the specific cooperation matters are clear, the company will perform the corresponding decision-making and approval procedures according to the regulations of the "Stock Exchange Listing Rules" and "Articles of Association" of the Shanghai Stock Exchange.
Second, the main content of this agreement
(I) Both parties to the agreement
Party A: Qingdao Digital Time Media Co., Ltd.
Party B: Hongda Communication Co., Ltd.
(II) Project Name: Building "VR Reading and Innovation Education Demonstration Platform"
(III) Cooperative mode: Party B uses its own advantages in brand, technology and hardware in the field of virtual reality to provide Party A with SDK (Software Development Kit) of Vivepaper platform.
Party A uses its own content and technical advantages to use the contents of the humanities arts and education textbooks owned by Party A and its affiliates as the core, and utilizes the SDK of the Vivepaper platform provided by Party B to develop its own VR content (hereinafter referred to as “ VR content "), to achieve VR within, Party A will exclusively upload VR content based on the Vivepaper platform SDK to Vivepaper platform, and authorize Party B, Party B related companies and Beijing Pan RuiDa Technology Co., Ltd. to distribute to users; such as Party A By itself or by authorizing a third party or distributing it to a third party, Party A promises to obtain the consent of Party B. Party A and Party B shall share the proceeds from the distribution of VR content, and the percentage of the shares shall be determined by the parties in consultation between Party A and Party B.
When the VR content provided by Party A increases to a certain extent, Party A and Party B separately negotiate to set up a VR content area for reading and creative education on the Vivepaper platform to create a demonstration platform for VR reading and VR education.
In the event that Party B issues the Vivepaper platform SDK license to Party A, the parties will separately sign the agreement.
According to the requirements of the cooperation business and projects of the two parties, if conditions permit and the information can be disclosed, Party B will give priority to providing support for Party A in terms of publicity and promotion, technical guidance and operation support under the same conditions. The specific matters shall be provided by Party A and Party B according to the actual situation. Negotiate and sign a written agreement.
(IV) Duration of cooperation
The cooperation period of this agreement is 3 years, effective from the date of signing and sealing by both parties.
Third, the impact on the company
The two parties will jointly build a "VR reading and innovation education demonstration platform." When the platform is completed, it will help the company's high-quality copyright content resources quickly realize VR transformation, and for key schools, vocational schools, colleges and universities in major cities across the country. And libraries and Xinhua Bookstore provide innovative reading and educational VR content.
The cooperation intentions between smart mobile devices and virtual reality companies are conducive to the company's connection with advanced hardware devices and technologies in the VR field, better utilization of content resources, exploration of new modes of VR reading and VR education development, and in line with the company's development strategy. In the long run, it will have a positive impact on the development of the company’s new media segment.
This cooperation agreement is a framework agreement for the willingness of both parties to cooperate. The specific cooperation matters will be negotiated and signed by the two parties according to the principles set out in the agreement. The actual agreement shall be based on the specific agreement or contract signed by the parties, the content and implementation of the cooperation. There is uncertainty in the progress.
The agreement signed this time has no direct impact on the company's 2017 operating results.
IV. Risk Warning
If the cooperation involved in this agreement requires the signing of a specific cooperation agreement, the company will perform the corresponding decision-making and approval procedures in accordance with the provisions of the Articles of Association and relevant laws and regulations, and conduct corresponding information disclosure. As this cooperation is the first cooperation between the two parties, there is a risk that the project promotion operation will be unfavorable, and the cooperation content will be adjusted or terminated.
The company will actively follow up the follow-up progress of this agreement in accordance with relevant regulations such as the "Stock Exchange Listing Rules" and "Articles of Association" of the Shanghai Stock Exchange and perform information disclosure obligations according to law. Investors are required to invest rationally and pay attention to investment risks.
V. Documents for reference
The "Memorandum of Cooperation" signed by both parties.
Special announcement.
Qingdao City Media Co., Ltd.
Board of Directors
March 29, 2017
[Baidu VR original manuscript, reproduced please indicate the source]