(Yicai Global) July 13 -- Chinese AI technology developer CSG Smart Science & Technology will transfer 5 percent of its shares to a company affiliated with Liu Qiangdong, founder of China's e-commerce giant JD.Com, for CNY618 million (USD92 million).

It will also partner with the buyer's e-commerce operator, Beijing Jingdong Century Trading, in smart manufacturing and logistics technology development.

Huang Mingsong, CSGSST's controlling shareholder and actual controller, signed the equity transfer agreement with Suqian Jingdong Xinsheng Corporate Management  yesterday, per which he agreed to transfer 5 percent of the listed company's shares, Shanghai-based CSGSST announced today.

CSGSST has also inked a cooperation agreement with BJCT to co-develop smart manufacturing of big-ticket consumables, industrial internet, big data of consumables and smart logistics storage solutions, the announcement stated.

CSGSST will develop new robot products for JD.Com, upgrade its existing robot products and its manufacturing business as an outsourced co-developer. The company will also furnish JD.Com's suppliers with smart manufacturing technology services, per the announcement.

The companies will also explore the setup a joint venture and regard each other as their first and priority partners in potential cooperation projects, the announcement said.

Huang Mingsong will still hold 191,365,862 shares of CSGSST post-transfer -- 26.22 percent of the company's total -- and remain controlling shareholder and actual controller, the announcement added.

Editor: Benedict Armour