Hangzhou Radical Energy-Saving Tech Ties With Aoyi IT to Set Up Joint Venture
MT Newswires Live
Nov 12
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.
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