On March 16th, 2018, Skyworth Group and Baidu Corporation held a press conference to announce a strategic cooperation: Baidu made a strategic investment of RMB 1.01 billion to Skyworth's Internet TV operation brands. Baidu's interactive AI system duerOS will cooperate with CoolOpen System. Achieve full integration; both parties will launch a series of in-depth cooperation in the AI (artificial intelligence) field to jointly provide consumers with smart home entry-level products and services.
Skyworth Baidu Strategic Cooperation
Pursuant to the announcement issued by Skyworth Digital Holdings Limited on March 16, Baidu injected RMB 1,010,000,000 (equivalent to approximately HK$1,252,400,000) into Coolo, including RMB13,425,493 (equivalent to approximately HK$16,647,611) which will be funded by Kucoi's registration. Capital, and the balance will be injected into CoolCapital's capital reserve, and purchase of CoolCap's existing equity interest held by Coolgold Shenzhen.
The investor is an indirect joint venture subsidiary of Baidu, Inc., a NASDAQ-listed company in the United States. Baidu, Inc. indirectly owns the controlling rights of Kuaikai's existing shareholder, Beijing Aiqiyi Technology Co., Ltd. Previously, Iqiyi held Cool open about 4.61% of the shares. That is to say, this is Baidu has increased its investment in Coocaa. After completing this investment, Baidu's shareholding in Coocaa will account for a total of 11%.
In September 2016 and June 2017, Coocaa obtained Baidu’s iQIyi and Tencent strategic investment of 150 million yuan and 300 million yuan respectively. After the investment in Tencent, the market value of Coocaa opened up to 8 billion yuan. After the completion of a round of strategic investment, the market value of Coocaa opened nearly 10 billion yuan.
At present, the total number of active activations of Coolopen's terminals exceeds 31 million, and the number of active users exceeds 12 million. Whether it is the number of users that can be operated or the market valuation, Kukai is ranked first in the industry.
