Shiteng Holdings and a Web3 company have signed an investment letter of intent to promote the company's AI and DeFi business development

According to BlockBeats, on September 15, Hong Kong-listed company Shiteng Holdings issued an announcement stating that it has entered into an investment letter of intent with a potential seller to promote the company's AI and DeFi business development. As part of the proposed acquisition, management and the founders of the Target Group will provide three years of revenue and profit guarantees. The consideration of the proposed acquisition will be paid through the allotment and issuance of new shares of the Company. The proposed acquisition is subject to further due diligence and a final agreement on the proposed acquisition is signed before it can be implemented. The Target Group was established in Singapore and is a leader in accelerating software innovation and ecosystem development for artificial intelligence, blockchain, decentralized finance and stablecoin technologies, including the development and successful launch of stablecoin platforms and infrastructure.