Shulou(Shulou.com)12/24 Report--

CTOnews.com news, November 27, 2023, Shenzhen Jiangbolong Electronics Co., Ltd. (hereinafter referred to as "Jiangpolong") and Kingston Technology Co., Ltd. (Kingston Technology Corporation) jointly signed a memorandum of intent.

The two sides announced that they would give full play to their respective advantages and jointly fund the establishment of a joint venture company, with both parties holding 51% and 49% of the shares of the joint venture company respectively (the two sides will sign specific agreement documents later, and perform various examination and approval obligations and information disclosure obligations in accordance with regulations according to specific arrangements at that time).

After the establishment of the joint venture company, it will operate independently, have complete corporate governance and management capabilities, and provide Chinese customers with differentiated and diversified product solutions for high-end embedded storage, which complement the existing product solutions of Jiang Bolong.

According to reports, the joint venture company will independently carry out product planning, product research and development management, product supply chain management and product sales. Jiang Bolong will provide product research and development and technical solution support for the joint venture company. At the same time, Kingston Technology will also provide support for the joint venture company's core resources procurement and brand requirements. The joint venture company will provide Chinese mainland customers with high-quality and high value-added embedded storage products.

Jiang Bolong said that the signing of this memorandum shows the strategic cooperation between the two sides in the Chinese mainland embedded storage market. The alliance in brand, technology and resources between the two sides is conducive to jointly ploughing the embedded storage market, serving Chinese customers, and further expanding market share. At the same time, it will also further deepen the cooperation between Jiang Bolong and Kingston Technology.

CTOnews.com Note: Jiang Bolong electronic focus storage products and applications, has formed four product lines of embedded storage, solid state disk (SSD), removable storage and memory bars, with industry storage brand FORESEE and consumer storage brand Lexar (Rexa).

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