ByteDance and surging joint venture to establish audiovisual technology company involving blockchain business

On December 10, Byte Beat and Peng Mei News jointly invested in the establishment of "Peng Mei Audio-Visual Technology (Jinan) Co., Ltd." with a registered capital of 10 million yuan. Byte Beat and Peng Mei News held 49% and 51% shares respectively. The inquiry found that the business scope of the company's industrial and commercial registration is: "Intellectual property services; software development; blockchain technology-related software and services; artificial intelligence public service platforms; Internet data services; artificial intelligence application software development, etc.