Longcheer Technology – AAC, two industry-leading tech companies, agree to cooperate in AI wearable acoustic development
On May 5th, 2019, Longcheer Technology, AAC Technologies Holdings Inc. and the City of Nanning jointly signed an investment agreement for the development of AI wearable acoustic products and equipment, in the Nanning Economic and Technology Development District.
The investment agreement was signed by Mr. Xiao-Dong Wang (Standing Committee of the CPC of Guangxi Zhuang Autonomous Regio（GZAR）/Secretary of the municipal party committee of Nanning), Mr. Ning Huang (Standing committee of the municipal committee of Nanning/First Secretary), Mr. Hui-Dong Zhu (City of Nanning Deputy Mayor), Mr. Jun-Hong Du (Longcheer President), and Mr. Zheng-Min Pan (AAC Technologies Holdings Inc. Executive Director/CEO).
As part of the Nanning AI wearable acoustics equipment investment agreement, Longcheer Technology and AAC Technologies Holdings Inc. together will invest one billion RMB (USD 147.5M). The two companies will work closely on product design, R&D, technical business development and production capabilities. AAC Technologies Holdings Inc. is an industry and market share leader in Micro Acoustics, Haptics, and Radio Frequency solutions. On the other hand, Longcheer is a global leader of wireless telecommunication technology, as well as AI hardware products and services. With these combined core competencies, Longcheer and AAC Technologies Holdings Inc. are joining forces in the world of AI wearable acoustics and are investing in the City of Nanning, creating a win-win opportunity in the development of industry-leading supply chain solutions.
After in-depth discussions with the executive management teams from Longcheer and AAC Technologies Holdings Inc., Mr. Xiao-Dong Wang, Municipal Committee Secretary, highly praised both companies’ decision to invest in the City of Nanning. It not only shows their strategic alliance and great vision as major business corporations but also aligns with the city’s development plans focused on Information Technology. The City of Nanning will devote resources to create a business-friendly environment, provide quality service, and help companies to grow, based on mutual benefits.
Mr. Jun-Hong Du (Longcheer Technology, President) and Mr. Zheng-Min Pan (AAC Technologies Holdings Inc. Executive Director/CEO) are very confident in their investment into the City of Nanning and are impressed by their dedication and determinations. Both parties agreed the investments would help seize the market opportunities, create profitability over time, attract more businesses to the area, making the City of Nanning become the center of the regional Information Technology industry.