Hangzhou Radical Energy-Saving Technology (SHE:300652) partnered with Shanghai Aoyi Information Technology to establish a joint venture that will develop robot parts, according to a Shenzhen bourse filing on Wednesday.

The venture, to be named Zhejiang Lei'ao Robotics, will have a registered capital of 100 million yuan and will manufacture robotic dexterous hand components, dexterous hand modules, and robotic joint actuators.

Hangzhou Radical Energy-Saving will own 90% of the venture, while Aoyi will hold 10% after contributing 90 million yuan and 10 million yuan, respectively.

The Chinese automotive bearings manufacturer's shares slipped 1% at the close.