Towngas-xFusion-StarFive strategic partnership to propel research and application of “Lion Rock” chip, accelerating development of new quality productive forces

March 22, 2024 -- The Hong Kong and China Gas Company Limited (Towngas) and Guangdong StarFive Technology Company Limited (StarFive) have entered into separate strategic cooperation agreements with xFusion Digital Technologies Company Limited (xFusion). Through the collaboration, xFusion will provide industry-leading intelligent computing products to enhance Towngas’ capabilities in areas such as cloud computing, databases, and memory computing, thereby expediting Towngas’ digital transformation. Additionally, the three parties will collaborate to drive the implementation of high-quality computing infrastructure and services in Hong Kong, unleashing new potential for the development of new quality productive forces.
 
Towngas has been dedicated to utilising digital technology to propel business growth, enhance its management capabilities and raise customer service standards. As per the strategic cooperation agreement, xFusion, a leading provider of computing infrastructure and services, will strengthen Towngas’ capabilities in cloud computing, memory computing, and other areas, in an effort to bolster its competitive edge in the realm of digitalisation.
 
In addition, xFusion and StarFive have entered into a strategic cooperation agreement to establish a joint innovation centre in Hong Kong. StarFive, a technology company incubated by Full Vision Capital (a family office founded by Dr Lee Ka-kit), will develop a RISC-V chip, codenamed “Lion Rock”, tailored for data centre environments. The chip’s technology will be integrated into xFusion’s intelligent computing products, enhancing their service capabilities.
 
Dr Lee Ka-kit, Chairman of Towngas and Founder of Full Vision Capital, hopes to further accelerate the rapid development of Hong Kong's semiconductor industry and new digital infrastructure through this collaboration. He said, “Having just attended the ‘Two Sessions’, I am greatly impressed by the latest buzzword – ‘new quality productive forces’. By 2030, the scale of the semiconductor industry is projected to exceed US$1 trillion, showcasing its tremendous market potential. As a leading energy enterprise with a history of over 160 years, Towngas aims to leverage xFusion’s computing infrastructure and services to propel the intelligent and green transformation of the energy industry. By aligning with the high-quality national development of computing infrastructure, we are committed to driving the digital transformation of industries in Hong Kong.”
 
Dr Lee further said that digital technology is a significant driver for developing new quality productive forces, involving crucial technologies such as the AI Plus initiative, big data, and new energy. The collaboration between Towngas, xFusion, and StarFive holds extraordinary significance, as it represents a firm step taken by the three parties towards advancing this development.
 
Regarding xFusion’s partnership with Towngas and StarFive, Mr Jeffery Liu Hongyun, Chairman and CEO of xFusion, said, “This collaboration paves the way for greater synergistic innovation. With xFusion’s exceptional computing infrastructure and services, our collaboration with Towngas allows us to enter the Hong Kong market and contribute to digital transformation efforts. Moreover, through our partnership with StarFive, we are establishing a joint innovation centre in Hong Kong, facilitating the integration of StarFive’s cutting-edge technology into data centre environments and achieving a significant industry breakthrough. Through this collaboration between the three parties, we harness collective industry strength, foster complementarity, share resources, and drive collaborative advancement. Together, we aim to cultivate a favourable industry ecosystem, promote synergistic development along the industry value chain, and deliver quality computing services to everyone!"
 
Mr Thomas Xu Tao, Chairman and CEO of StarFive Technology, stated, “By leveraging our cutting-edge RISC-V core technology, StarFive can develop the most suitable products for data centre environments, fully harnessing our vertical integration advantages. We welcome more partners to join us in forming a strong alliance to collectively build a thriving ecosystem for RISC-V technology in the data centre domain."
 

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Press photos:
Photo 1:

Dr Lee Ka-kit (left, back row), Chairman of Towngas, and Mr Jeffrey Liu Hongyun (right, back row), Chairman of xFusion, witness the signing of a strategic cooperation agreement between Mr Don Cheng Hill-kwong (left, front row), Towngas Head of Commercial – Hong Kong Utility and Head of Sustainable Green Energy Hub, and Mr Vandia Yang Chih-tien (right, front row), President of SEA Region of xFusion.
 
Photo 2:

Mr Alan Chan Ying-lung (centre, back row), Chief Investment Officer of Towngas and Managing Partner of Full Vision Capital; Mr Jeffrey Liu Hongyun (right, back row), Chairman and CEO of xFusion, and Mr Thomas Xu Tao (left, back row), Chairman and CEO of StarFive, witness the signing of a strategic cooperation agreement between Mr Fan Ruiqi (right, front row), President of Strategic Planning and Central Research Institute at xFusion, and Mr Zhang Naxin (left, front row), Senior Vice President of StarFive.
 
Photo 3:

Guests attending the Towngas-xFusion-StarFive Strategic Cooperation Agreement Signing Ceremony include: Dr Lee Ka-kit (centre, front row), Chairman of Towngas; Dr Colin Lam Ko-yin (2nd from right, front row), Vice Chairman of Henderson Land; Mr Andrew Fung Hau-chung (3rd from left, back row), Chief Financial Officer of Henderson Land; Mr Augustine Wong Ho-ming (2nd from left, back row), Executive Director of Henderson Land; Mr Peter Wong Wai-yee (1st from left, front row), Managing Director of Towngas; Mr Alan Chan Ying-lung (1st from right, front row), Chief Investment Officer of Towngas; Mr Don Cheng Hill-kwong (1st from left, back row), Towngas Head of Commercial – Hong Kong Utility and Head of Sustainable Green Energy Hub; Mr Jiang Xuegang (centre, back row), Director of RISC-V Global Talent Development Certification Centre – China; Mr Jeffrey Liu Hongyun (3rd from right, front row), Chairman and CEO of xFusion; Mr Thomas Xu Tao (2nd from left, front row), Chairman and CEO of StarFive; Mr Vandia Yang Chih-tien (3rd from right, back row), President of SEA Region of xFusion; Mr Fan Ruiqi (4th from right, back row), President of Strategic Planning and Central Research Institute of xFusion; Mr Zhang Naxin (4th from left, back row), Senior Vice President of StarFive; Ms Clara Chan Ka-chai (3rd from left, front row), CEO of Hong Kong Investment Corporation Limited; Professor Chik Patrick Yue (2nd from right, back row), Professor of the Department of Electronic and Computer Engineering and Director of Integrated Circuit Design Center at the Hong Kong University of Science and Technology; Ms Kathy Pan Yong-hua (1st from right, back row), Senior Vice President – Extended Business of Towngas, and more.
 
Photo 4:

Towngas Chairman Dr Lee Ka-kit hopes that the collaboration between Towngas, StarFive, and xFusion will further enhance semiconductor research and production in Hong Kong.
 
Photo 5:

xFusion Chairman Jeffrey Liu Hongyun points out that this partnership can collaboratively foster a conducive industry ecosystem, stimulating synergistic development along the industry value chain.
 
Photo 6:

Mr Jiang Xuegang, Director of RISC-V Global Talent Development Certification Centre – China, hopes this collaboration will drive the development of new quality productive forces.

Photo 7:

Mr Vandia Yang Chih-tien, President of SEA Region of xFusion, introduces xFusion’s computing infrastructure and services.

Photo 8:

Mr Thomas Xu Tao, Chairman and CEO of StarFive, shares the research and development concept behind the “Lion Rock” RISC-V chip.

Photo 9:

Following the signing ceremony, a panel discussion was held with the theme “Building the RISC-V Ecosystem to Support the Development of Hong Kong’s Semiconductor Industry”. Ms Kathy Pan Yong-hua (1st from left), Senior Vice President – Extended Business of Towngas, moderates the discussion, with guests including Mr Alan Chan Ying-lung (2nd from left), Chief Investment Officer of Towngas; Professor Chik Patrick Yue (1st from right), Professor of the Department of Electronic and Computer Engineering and Director of Integrated Circuit Design Center at the Hong Kong University of Science and Technology; Mr Fan Ruiqi (centre), President of Strategic Planning and Central Research Institute of xFusion; and Mr Thomas Xu Tao (2nd from right), Chairman and CEO of StarFive, joining in to discuss the opportunities for Hong Kong’s semiconductor industry.

Photos 10 & 11:


A diverse range of xFusion and StarFive products are showcased at the signing ceremony venue.
 

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