Meituan Completes Acquisition of 100% Equity of Guangnian Zhiwai

Jun 29, 2023, 18:41pm2023/06/29 18:46:30 Pandaily

Hong Kong, June 29 – Meituan<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> announced on the Hong Kong Stock Exchange today that it has successfully completed the acquisition of 100% equity of Guangnian Zhiwai, both domestically and internationally, for approximately 2.065 billion RMB. This acquisition comes in the wake of Guangnian Zhiwai co-founder Wang Huiwen’s departure from the company due to health reasons, as he seeks medical treatment and takes time for recovery.

In its announcement, Meituan<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> explained that the acquisition aims to obtain leading Artificial General Intelligence (AGI) technology and talent, providing an opportunity to strengthen its competitiveness in the rapidly growing AI industry. Guangnian Zhiwai is a prominent domestic AGI innovation enterprise founded by Wang Huiwen, committed to advancing the widespread use of AGI. Insiders revealed that Guangnian Zhiwai assembled a team primarily focused on product development and technology talent within a span of two months, attracting numerous top experts and entrepreneurs in the field of artificial intelligence. The team currently consists of approximately 70 individuals.

Meituan<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> expressed its commitment to supporting the continued exploration and research in the field of large-scale models by the Guangnian Zhiwai team following the completion of the acquisition.

The acquisition of Guangnian Zhiwai signifies Meituan<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder />‘s strategic move to strengthen its position in the AI sector and capitalize on the potential of AGI technology. With this acquisition, Meituan<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder /> aims to leverage the expertise and resources of Guangnian Zhiwai to enhance its capabilities in the competitive AI landscape.

The news of Meituan<img decoding="async" class="trade-card__loading" layout="fixed" height="50" width="50" src="https://assets.pandaily.com/uploads/2021/12/loading.png" placeholder />‘s acquisition of Guangnian Zhiwai has garnered attention from industry insiders and investors, as it highlights the increasing interest and investments in AGI technology within the Chinese market.