BUZZ-Minth climbs to five-year peak on US robotics joint venture with Leader Harmonious

Reuters
Feb 09
BUZZ-Minth climbs to five-year peak on US robotics joint venture with Leader Harmonious

** Shares of auto parts producer Minth Group 0425.HK jump 9.2% to HK$40.46, their highest level since January 2021

** Stock marks its biggest intraday pct rise since January 22, and set for a second session of gains

** Minth says it will join Leader Harmonious 688017.SS to set up a joint venture in the U.S. and engage in design, manufacture and commercialization of humanoid robot joint module assemblies in North America

** Says establishing localized assembly, delivery, upgrades, and maintenance for humanoid robot joint modules is critical to the sustainable development of embodied-intelligence robot enterprises in North America

** "The group aims to become a leading global tier-one supplier of on-site robot system components," says Minth

** Leader Harmonious' stock climbs 1.9% to 221.59 yuan on the second session of gain

** YTD, Minth shares up 26.4%, Leader Harmonious up 15%, benchmark Hang Seng Index .HSI up 5.4%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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