BINGO GROUP (08220.HK): plans joint venture with Zhejiang Outlets to build "AI + IP" immersive new retail platform

NewTimeSpace News: According to the HKEX on October 29, Bingo Group Holdings Limited ("Bingo Group", 08220.HK) announced that after trading hours on October 29, 2026, it entered into a memorandum of understanding (MOU) with Zhejiang Outlets Operation Management Co., Ltd. ("Zhejiang Outlets") to jointly initiate and promote the establishment of a joint venture, with an intention to bring in other suitable participants.

According to the announcement, the cooperation aims to leverage the leading strengths of both parties in premium intellectual property (IP) resources, international brand supply chains and commercial channels, to jointly build an offline "AI + IP" immersive new retail consumer chain platform. By deeply integrating cultural content, intelligent technology and quality merchandise supply, the joint venture will explore digital operations and innovative retail models.

Bingo Group is principally engaged in film production, franchise and derivative rights, crossover marketing and interactive content businesses. The board believes the cooperation is a key strategic move to drive the deep integration of "cultural content + smart technology + offline retail". Under the MOU, no party may transfer its rights or obligations without written consent, and the MOU will terminate automatically three months from its date. The company cautioned that the proposed cooperation may not proceed and the investment amount has not yet been agreed.