Beijing Cornerstone Profit Investment Center (limited partnership) and Beijing Cornerstone Profit Investment Management Center ( limited partnership)
Beijing Cornerstone Profit Investment Center (limited partnership) (hereinafter referred to as the Cornerstone Profit) was established on January 10th, 2017, with the total subscribed capital of RMB 201 million. It was jointly sponsored by the Group along with the holding subsidiary-BII Technology Development Co., Ltd. (BII-TDBJ), ICBC Credit Suisse Asset Management Co., Ltd.( ICBC Credit Suisse), Dr. Peng Telecom & Media Group Co., Ltd.( Dr. Peng), Shenzhen Pengbo Industry Group Co., Ltd.( Pengbo Industry), Beijing Tonglingtong Telecommunications Technology. Co., Ltd.（Tonglingtong Telecommunications）and Beijing Cornerstone Profit Investment Management Center (Profit Center). Cornerstone Profit focuses on the investment in urban intelligent transportation and Internet services, and its main business is investment management and asset management. As a common partner of Cornerstone Profit, Profit Center is responsible for the daily operation and management of Cornerstone Profit. Recently, Cornerstone Profit invested in the Beijing rail transit one-way ticket Internet ticketing project, and has completed the early stag software and hardware development, and cooperated with rail transit command center in the modification and test of the clearing system, monitoring center system and standard software, and will gradually achieve the quick service experience of entry into and exit from stations by scanning mobile phone. At present, Easy Access APP was put into trial use in the airport line for entry into and exit from stations by scanning QR-code on the August 20, 2017, and put into use in 20 rail transit stations with large passenger flow on September 1. It is expected to achieve the entry into and exit from stations by scanning QR-code across the whole Beijing rail transit network in the first quarter of 2018.
Beijing Cornerstone Profit Investment Management Center (limited partnership) (hereinafter referred to as Profit Center) was established on February 25, 2016, with the total subscribed capital of RMB 2 million. It was jointly sponsored by the Group along with the holding subsidiary- BII Technology Development Co., Ltd, Beijing Cornerstone Venture Investment Management Center (Cornerstone Center) and Suqian Chuangweiying Investment Management Center （Chuangweiying）. The main business of Profit Center is investment management and asset management.
Facing the current opportunity of rapid development of China's rail transit industry, the establishment of two limited partnership enterprises is of great significance to meet the citizen passengers’ needs for quick travel of Beijing rail transit and alleviate the current situation of queuing for ticket of a large number of passengers. The Company will effectively build the Beijing rail transit Internet ticketing service platform by means of market means from the perspective of serving the public.