Its stock backed to market in afternoon.

The first video’s announcement said it reached the exclusive strategic cooperation agreement with Taiwan Hua Xun Media Group(6237.TWO) in the form of sharing benefits. By working with iPeer Group invested by Hua Xun Media Group and (MTK) MediaTek(MTK), the first video became the exclusive mobile entertainment partner of MediaTek in Greater China. One of co-operations is to add value-added services surrounding purchasing lotteries from the first video including games, entertainment, music, video and wireless payments to mobile phones chips made by MediaTek.

Hua Xun Group, in this collaboration, will primarily provide platform development, application-layer display, the client technology development, and marketing transplant. The first video will provide a legitimate lottery and entertainment value-added services and billing system. The two sides will build China’s largest mobile phone lottery comprehensive entertainment platform.