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China Risun
Group Limited (“China Risun”, or the
“Group”, stock code: 1907), and Alibaba Cloud Computing Co. Ltd. (“Alibaba
Cloud”) have held the Coking Chemical Industrial Internet Strategic Cooperative
Agreement signing ceremony today. According to the cooperative framework
agreement and guided by the principle of realizing “complementary advantages,
mutual benefits, sincere cooperation and joint development”, the parties intend
to seize the opportunities arising from the strategic significance placed by
the PRC on information security and localization, closely collaborating with China
Risun’s industrial Internet platform as the core. They will commence extensive
cooperation in such areas as cloud computing, Big Data, industrial IOT, smart manufacturing,
trading, finance and AI so as to promote mutually beneficial development in
related sectors.
Listed on the Main Board of the Stock Exchange of Hong Kong on 15
March of this year, according to its prospectus and 2018 annual report, China Risun
is a leading enterprise group engaged in four main business segments, namely
coke, [refined chemicals/chemical products], trading and operational management
service. According to Frost & Sullivan, China Risun is the world’s largest
independent producer and supplier of coke, the world’s largest coking crude
benzene processor, the world’s fifth-largest coal tar processor, as well as the
largest producer of coke-oven-gas-based methanol and industrial-naphthalene-based
phthalic anhydride in China.
On the back of Alibaba’s strong technological capability and business
background, Alibaba Cloud boasts a team of domestic and overseas cloud
computing experts to develop China’s first cloud computing platform with its own
intellectual property rights. Its aim is to develop a leading cloud computing
services company. In January 2017, Alibaba served as the official “Cloud
Services” and “E-commerce Platform Services” partner of the Olympic Games and
Alibaba Cloud is to provide cloud computing and AI technology services to the
Olympic Games.
The cooperation between China Risun and Alibaba Cloud will harness
the opportunities arising from the Industrial Internet and adhere to the theme
of promoting innovative development of the manufacturing industry. To enhance
quality and efficiency and follow the high-end development strategy, it will
push forward the integrated application of the Industrial Internet throughout
all workflow procedures, along the whole industrial chain and all aspects in
the coking and chemical industry, and promote the use of digital and
intelligent technologies in manufacturing processes. This is aimed at
developing a comprehensive Industrial Internet platform and digital platform.
These platforms will enable China Risun to expand its business presence
nationwide through pursuit of various growth approaches, developing business in
multiple industries and mapping out a multi-regional layout
According to the agreement, their cooperation aims at three main objectives.
The first is to build an Industrial Internet platform for China Risun, through
which to replicate its advanced technologies, experience, and outstanding
management to other park zones, and companies with which it merges, acquires or
manage. With the Industrial Internet as the core, the cooperation is to apply
technologies including cloud computing, IoT and Big Data to the Group’s
production operations. It is also optimising the supply chain of China Risun
and linking upstream and downstream suppliers and customers, in order to
enhance overall competitiveness of the production chain. Secondly, the alliance
plans to build up core digital products and the competitiveness of Beijing Risun Information Technology Co., Ltd.This includes two major product platforms of the Industrial Internet
and digitized supply chain. It will also assist in the deployment of an
Industrial Internet platform for the coking chemical industry with intellectual
property rights for its application and digitized products, so as to set up the
systems and teams for product development and optimization, based on the
application and digitized operation of Industrial Internet platforms. Thirdly,
the two parties aim to serve the coking chemical industry and capitalize on China
Risun’s digitalization capability through its Industrial Internet platform.
The cooperation marks an important initiative to implement China Risun’s
strategies for the “application of and empowering other industries with its
coking chemical industrial internet platform” and “promoting the sustainable
development of China Risun through digitalization,” with the aim to bring the
core competitiveness of the Group to the next level.
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