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Vestate Group (01386) applying A.I. for tobacco sale
29 Jan 2019
(Infocast News) Vestate Group (01386) announced that on 26 January 2019, its subsidiary, Guoxin Wangfu Information Technology, entered into a cooperation agreement with Shenzhen Maqi Industrial Development in relation to the application of a new retail model of artificial intelligence technology for unmanned sale of tobacco in the PRC.

Pursuant to the agreement, Shenzhen Maqi Industrial Development shall be primarily responsible for development of the tobacco big data platform, application for license for exclusive sale of the tobacco intellegent terminals and the design and manufacture of point of sale (POS) intelligent terminals for sale of tobacco.

It is anticipated that no less than two exclusive licences for the sale of the tobacco intelligent terminals on the provincial or municipal levels will be granted and no less than 5,000 tobacco POS intelligent terminals shall be installed in the PRC within one year after the date of the agreement.

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