Zhaowei (02692) has announced its intention to participate in a land auction for a state-owned land use right in Shenzhen's Bao'an District. The company plans to invest in the construction of a Dexterous Hand and Micro-Drive System Industrial Park project. This initiative is driven by business development needs and overall production planning. It aims to leverage the company's leading advantages in micro-transmission and micro-drive systems. The project will expand Zhaowei's robotics business segment, optimize its overall production capacity distribution, and improve its industrial layout. Furthermore, it seeks to enhance the company's industry position and market share in the fields of micro-drive systems and dexterous hands.

The company intends to bid on the land use right, which is being transferred by listing by the Shenzhen Planning and Natural Resources Bureau Bao'an Administration. The parcel code is 440306604001GB00315, the parcel number is A317-0592, and the land area is 18,771.34 square meters. Upon successful acquisition of the land use right, Zhaowei plans to use its own funds or self-raised funds for the project investment and construction on the site. The total project investment is estimated to be approximately 800 million Chinese yuan. This amount includes the land use right transfer price, though the final investment total will be based on the actual expenditure. Specific investment amounts and plans will be adjusted according to the project's actual scale, layout, site conditions, and environmental capacity.

Concurrently, the company's board of directors has authorized the management team to fully handle all matters related to the land use right auction. Authorization has also been granted to the company's legal representative and their delegated representatives to sign relevant legal contracts and documents.