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On March 25, 2018, EMS firm Universal Scientific Industrial (Shanghai) Co. Ltd (USI) and Cancon Information Industry Co. Ltd announced a Memorandum of Understanding on the establishment of a joint venture. On August 31, Universal Global Technology (Kunshan) Co. Ltd (USI-Kunshan), a wholly owned subsidiary of USI, inked the joint venture framework contract and shareholder agreement with Cancon to formally launch the JV project. The two parties would jointly invest Rmb220 million to establish the joint venture, with Cancon holding 51% of shares and USI-Kunshan holding 49% of shares.
USI and Cancon aim to deepen their cooperation in R&D, design and production of safe and controllable high-performance server products, and integrate their industrial resources to provide solutions that conform to network security and related standard products for customers in the domestic market.