ELATE HOLDINGS(00076.HK): Subsidiary Enters Cooperation Agreement to Jointly Build AI-Powered Technology Trading Platform
NewTimeSpace News: Elate Holdings Limited (00076.HK) announced that Cityhill Limited, its wholly-owned subsidiary, has signed a five-year cooperation agreement with Han Carvestone International Limited to jointly establish an AI-enabled trading platform covering graphite products and daily logistics businesses.
NewTimeSpace News: Elate Holdings Limited issued a voluntary announcement dated 7 July 2026. On 7 July 2026, Cityhill Limited, the Company’s wholly-owned subsidiary, entered into a five-year cooperation agreement with Han Carvestone International Limited to co-develop an artificial intelligence-backed trading platform. Its core businesses are split into two segments – graphite products and daily logistics – to be rolled out in two phases.
Phase One will focus on graphite products, attracting global buyers and sellers of graphite products to conduct commodity trading on the platform. Phase Two will centre on Asia, recruiting merchants such as restaurants and supermarkets as suppliers of goods and services, while collaborating with internet service providers and logistics firms operating regional or international brands.
Cityhill Limited will fund the platform construction and take charge of daily operations, whilst Han Carvestone International Limited will provide technical support. The parties agreed that Cityhill Limited will be entitled to 65% of the platform’s profits, with the remaining 35% going to its counterparty.
As the agreement constitutes a framework arrangement without finalised specific commercial terms, the proposed cooperation may not generate substantial business activities or revenue for the Group.
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