NetDragon Executive Visits Moroccan Ambassador to China

On the morning of December 24, 2024, Ms. Tracy Chi, Senior Technical Director of Overseas Research and Development at NetDragon Websoft, and Mr. Michael Chen, Senior Education Researcher at the Smart Learning Institute jointly established by NetDragon and Beijing Normal University, paid a visit to the Moroccan Embassy in China in the company of Mr. Edward Yang, Board Chairman of Victwo, and Ms. Julie, Outreach Manager of Victwo, engaging in a constructive discussion with Ambassador Ansari and Deputy Chief Chaouki regarding investment collaborations in the sphere of educational technology.

NetDragon Websoft, a Hong Kong-listed conglomerate, is recognized as one of China's top 100 internet technology leaders and top 30 cultural enterprises. It is also one of the earliest Chinese online gaming companies to venture overseas. In 2006, NetDragon invested RMB 1 million to acquire the 91 Mobile Assistant app, which it later sold to Baidu for USD 1.9 billion in 2013, marking an unprecedented return on investment exceeding 10,000 times and setting a record for the largest exit profit in China's internet industry. In 2010, NetDragon ventured into the realm of educational technology by acquiring Promethean, a global leader in educational solutions, maintaining its position as the top market leader in interactive display devices for K-12 classrooms worldwide for consecutive years. In 2018, NetDragon further acquired Edmodo, a global learning community platform with over 150 million registered users in the K-12 learning community, which has been selected as the designated online learning platform for national K-12 education in Egypt and Ghana and recommended by UNESCO for remote learning.

During the meeting, Ms. Chi presented a comprehensive overview of NetDragon's achievements in educational technology. Ambassador Ansari, in turn, outlined Morocco's investment needs and collaboration opportunities in basic education, higher education, vocational training, and talent cultivation for the online gaming industry. Based on Mr Ansari's suggestions, Ms. Chi promised to draft a proposal for investment collaboration, with an aim to expedite cooperation between the two sides on various fronts.

Previously, in light of the advancement of Morocco's pharmaceutical and juice industries, we recommended Xiamen Tongzhou Zongheng Membrane Technology Co., Ltd to the Moroccan Embassy in China, which has subsequently forwarded the company's letter of intent for cooperation and corporate profile document to the pertinent domestic entities in Morocco.