Kuke Music Establishes R&D Center in Guangzhou

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03/14/2024 - 10:00 AM EDT

BEIJING, March 14, 2024 /PRNewswire/ -- Kuke Music Holding Limited ("Kuke" or the "Company") (NYSE: KUKE), a leading classical music service platform in China, recently disclosed a strategic organizational adjustment, including the establishment of a dedicated Technical Research and Development Center in Guangzhou. This strategic initiative is designed to enhance the collaborative efforts in R&D for technological integration between Kuke and its global strategic partner, Naxos Music Group ("Naxos"). The Company aims to achieve this by offering specialized services, including product development and technical maintenance tailored for Naxos, laying a more solid foundation for future cooperation.

The Guangzhou R&D center is dedicated to technical research and development, focusing on innovative technologies to support and advance various products within Naxos. This not only underscores Kuke's commitment to technological innovation but also reflects the Company's resolve to deliver a more diverse range of services for classical music enthusiasts.

Steve Li, Chief Financial Officer of Kuke, stated, "The Guangzhou R&D center serves as a pivotal platform for technical exchange and collaboration between Kuke and Naxos. By concentrating on continuous product development and offering technical maintenance services for Naxos, we aim not only to better cater to the demands of the classical music market in general but also to generate expanded business possibilities and opportunities for future collaboration between Kuke and Naxos."

Through this strategic framework, the partnership between Kuke and Naxos enters a new era. The Guangzhou R&D center is expected to elevate the technical integration of both to new heights which empower both parties to collaboratively explore and develop new products and services, providing a higher quality and more personalized service experience for classical music users on a global scale. This strategic initiative signifies Kuke's significant stride in globally promoting the integration of classical music and technology.

About Kuke Music Holding Limited

Kuke is a leading classical music service platform in China encompassing the entire value chain from content provision to music learning services. By collaborating with its strategic global business partner Naxos, the largest independent classical music content provider in the world, the foundation of Kuke's extensive classical music content library is its unparalleled access to more than 900 top-tier labels and record companies. Leveraging its market leadership in international copyrighted classical music content, Kuke provides highly scalable classical music licensing services to various online music platforms, and classical music subscription services to over 800 universities, libraries, and other institutions across China. In addition, it has hosted Beijing Music Festival ("BMF"), the most renowned music festival in China, for 24 consecutive years. Through KUKEY, the Company's proprietary smart music learning solutions, Kuke aims to democratize music learning via technological innovation, bring fascinating music content and professional music techniques to more students, and continuously improve the efficiency and penetration of music learning in China. For more information about Kuke, please visit https://ir.kuke.com/

Forward-looking Statements

This announcement contains forward looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "confident," "potential," "continue" or other similar expressions. Statements that are not historical facts, including but not limited to statements about Kuke's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including those in Kuke's registration statement filed with the Securities and Exchange Commission. Further information regarding these and other risks is included in Kuke's filings with the SEC. All information provided in this press release is as of the date of this press release, and Kuke undertakes no obligation to update any forward-looking statement, except as required under applicable law.

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