CYBERNAUT INT'L Holding's subsidiary PTF signs a cooperation agreement with Beidou Hong Kong Research Institute on the global application of the Beidou system

According to the news from Zhitong Finance and Economics APP, Cybernaut Int'l Holdings (01020) announced that on August 26, 2024, its subsidiary PTF signed a cooperation agreement with Beidou Hong Kong Research Institute on the global application of the Beidou system. The Beidou system is a satellite navigation system independently developed and operated by China, providing global users with all-weather, high-precision positioning, navigation, and timing services. Beidou Short Message Service is a unique and important application of the Beidou system with communication functions. When there is no communication network coverage in remote areas or stable communication is difficult to achieve in specific environments, the Beidou Short Message Service uses Beidou satellite signals for communication, providing users with fast and reliable communication capabilities. The Beidou Short Message Service is widely used in transportation, public safety, agriculture, power, water conservancy, meteorology, and other fields. Especially in emergency situations such as maritime rescue and disaster relief, the Beidou Short Message Service plays a very important role in safeguarding people's lives. According to the cooperation agreement, the contracting parties have agreed on the following matters: Beidou Hong Kong Research Institute is responsible for establishing the Beidou Short Message Service operation platform, data center, display center, and application promotion center in Hong Kong (Short Message Hong Kong Platform). Beidou Hong Kong Research Institute designates PTF as the exclusive operating partner of the Short Message Hong Kong Platform. PTF is responsible for the daily operation and management of the Short Message Hong Kong Platform; Beidou Hong Kong Research Institute entrusts PTF to promote industry solutions, products, applications, and operation services related to Beidou Short Message Service to public institutions and markets in Hong Kong. Beidou Hong Kong Research Institute is responsible for providing the products needed by Hong Kong customers to PTF; Beidou Hong Kong Research Institute entrusts PTF to apply for relevant licenses from Hong Kong government departments (if applicable) to obtain the business license required to launch the Beidou Short Message Service in Hong Kong; the contracting parties will cooperate in equity-related aspects in a timely manner. The board of directors believes that the development of the Beidou Short Message Service in Hong Kong has market prospects, not only in line with the strategic globalization of the Beidou system in mainland China but also in line with the vision of building Hong Kong into an international innovation and technology center. In the future, the company will use Hong Kong as a demonstration application and promote related products to the Southeast Asian market. In the spirit of long-term cooperation, the contracting parties plan to integrate their respective resource advantages and establish a cooperation model aimed at maximizing mutual benefits