Zhejiang Founder Motor Co.,Ltd. (002196.SZ) has announced that Zhejiang Fangde Robot Joint Technology Co., Ltd. ("Fangde Robotics") was established on July 19, 2023, with a current registered capital of 10 million yuan.

Among this, Zhejiang Founder Motor Co.,Ltd. contributed 6 million yuan, accounting for 60% of the registered capital, while Deqing Yuanfang Management Consulting Partnership (Limited Partnership) ("Deqing Yuanfang") contributed 4 million yuan, representing 40% of the registered capital.

To meet the needs of business development, Fangde Robotics plans to implement a capital increase, adding 20 million yuan in new registered capital. Of this, Zhejiang Founder Motor Co.,Ltd. will contribute 12 million yuan.