AGTECH HOLDINGS has signed a strategic cooperation framework agreement with China Foreign Cultural Group Co., Ltd
AGTECH HOLDINGS signed a strategic cooperation framework agreement with China Foreign Cultural Group Co., Ltd., aimed at supporting national cultural development and the diversification of Macau's economy. The agreement includes jointly organizing cultural activities, venue operations, and ticket management, with a cooperation period of three years. This move will help AGTECH HOLDINGS expand its cultural and entertainment business in Macau and promote Chinese culture globally, and is expected to bring long-term returns to the company and its shareholders
According to the announcement from AGTECH HOLDINGS (08279), on August 12, 2025, the company entered into a strategic cooperation framework agreement (framework agreement) with China International Cultural Group Co., Ltd. (China International Cultural Group) to actively cooperate and participate in the national cultural development strategy and support the diversified economic development strategy of Macau.
According to the framework agreement, the parties agree to utilize their respective resources and advantages to establish a strategic cooperative relationship, which includes collaborating on organizing and hosting cultural activities in Macau, venue operations, ticket management, and content innovation, as well as jointly bidding for outdoor performance venues in Macau. For the aforementioned cooperation, the company or its affiliated companies will serve as the preferred partner for China International Cultural Group in Macau under equal conditions, responsible for local resource integration, promotion, and operational implementation of the cooperative projects. The term of the framework agreement is three years from the date of signing.
China International Cultural Group is a large state-owned enterprise established with the approval of the State Council, primarily engaged in international performances, art exhibitions, cultural tourism, and performance line operations. China International Cultural Group is committed to promoting Chinese culture globally and implementing the national cultural development strategy.
The board of directors believes that achieving the above strategic cooperation through the framework agreement is beneficial for the group to continue expanding its cultural and entertainment business in Macau, in line with the Macau government's economic diversification strategy. With the group's digital capabilities and local resources, combined with China International Cultural Group's rich cultural resources and venue operation expertise, it is expected that this strategic cooperation will also generate synergies and promote Macau as a world tourism and leisure center with mainstream Chinese culture and diverse cultures coexisting, thereby bringing long-term returns to the company and its shareholders
