PHANCY Invests Over HKD200 Million in HUANXI MEDIA for Strategic Cooperation in AI Film and Television Production

PHANCY (06682.HK) -0.180 (-0.542%) Short selling $26.99M; Ratio 19.927% announced that it has entered into a strategic cooperation and joint venture framework agreement with HUANXI MEDIA (01003.HK) +0.040 (+14.545%) . The parties intend to establish a strategic partnership, through the establishment of a joint venture as a cooperation platform, by combining the Company’s expertise in AI with Huanxi Media’s industrial strengths in the film and television sector. This collaboration will focus on data cooperation and joint exploration of large model technologies in areas such as film and television production, interactive entertainment, game development, and intellectual property-related derivative products.The parties will potentially cooperate in data cooperation, under which Huanxi Media shall provide relevant data for AI solutions and model training in the film and television sector; foster development of large models and Agents for the film and television sector; explore the implementation of AI solutions in the new cultural and entertainment sector; utilize AI technology for joint production and creation of film and television content, as well as diversified derivative development of related intellectual properties; and more. In addition, Phancy International, a wholly-owned subsidiary of the Company, entered into the first large model API services framework agreement with Huanxi Media for the Large Model Application Programming Interface (API) services. Pursuant to the API Services Framework Agreement, the Phancy International will provide the Huanxi Media with various Large Model API services at a total price of US$20 million, calculated based on the amount of Tokens consumed by Huanxi Media and its subsidiaries when applying AI in film and television production. The API Services Framework Agreement is valid for two years. Phancy International conditionally agreed to subscribe for 731 million shares of Huanxi Media, representing approximately 14.3% of the total number of issued shares of Huanxi Media as enlarged by the Subscription, at the price of HK$0.275 per share of Huanxi Media, same as Huanxi Media's closing price yesterday (19th), involving over HK$200 million.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-19 16:25.)