crashgameonlinegambling| Pan Asia Environmental Protection (00556.HK) plans to establish a subsidiary in the United States to develop Web 3.0 business and AI business

Gelonghui April 12, Pan-Asian Environmental Protection (00556Crashgameonlinegambling.HK) announcementCrashgameonlinegamblingThe company began to set foot in the artificial intelligence ("AI") industry. To further enrich its business portfolio and make use of cutting-edge technology, the company and two joint venture partners set up a subsidiary in the United States of America to develop Web3Crashgameonlinegambling.0 business and AI business, thereby expanding the global business. This marks the group's entry into the advanced technology industry.CrashgameonlinegamblingThe beginning of the strategy.

With regard to the Web3.0 business, the Group will initially focus on distributed disaster recovery storage solutions. In order to support the operation of its business on Web3.0 infrastructure, the Group intends to purchase about US $20 million worth of digital assets. With regard to AI business, the Group intends to provide technical services and solutions for AI computing together with the partners of the joint venture.

Guo Jiannan has resigned as CEO of the company because he intends to focus on the duties and responsibilities of chairman of the board of directors and executive director of the company. Guo will continue to serve as chairman and executive director. The board of directors is pleased to announce that Zhu Duke Li, a partner of the joint venture, will join the company as executive director and chief executive officer.

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