Technology product solutions and supply chain services platform VST Holdings will establish a joint venture with Tsinghua Holdings to develop supply chain financial businesses in the technology industry.

Tsinghua Holdings' subsidiaries and related companies will hold a combined 55% stake in the joint venture; while VST Holdings will own the remaining 45%. The total investments in the JV is CNY1 billion, including CNY500 million registered capital.

The businesses of the new JV will cover supply chain finance, consumer finance, new retail and industry merger and acquisition and investment in the technology industry.

VST Group was founded in 1991 and the parent company VST Holdings was founded in 2002. The company is mainly engaged in businesses of 12 major categories, including cloud computing, mobile Internet, system equipment, software and service, home game, VR/AR, drone, Internet of Things application, basic network, machine peripheral, information security, and accessories.