Black Sesame Smart Announces Proposed Acquisition of Target Company

On June 18, Heizhima Smart released an announcement stating that on that day, the company entered into a non-legally binding letter of intent with a target company established in China and several of its management shareholders, according to which the group intends to acquire the target company by acquiring the equity of the target company and injecting capital into the target company. The target company focuses on the development and sales of cost-effective, low-power artificial intelligence system-on-chips (SoCs) and solutions. The target company mainly provides full-stack solutions in the fields of automotive intelligence and end-side AI applications.