Zhejiang Rongtai: plans to establish a joint venture company with Weichuang Electric in Thailand to jointly develop products for the integrated market of intelligent robots and electromechanical systems.

Zhejiang Rongtai announced that the company plans to jointly invest with Suzhou Weichuang Electric Technology Co., Ltd. in establishing a joint venture company in Thailand. The company will mainly focus on research and development and production of electromechanical integrated components, intelligent transmission systems, and supporting products, aiming to jointly develop applications for the intelligent robotic electromechanical integrated market. The equity structure of the joint venture company is planned to be set at 50% for each party, with the investment method being monetary contribution. This letter of intent for cooperation is a preliminary agreement based on the willingness and basic principles of both parties, and specific details are subject to further negotiation, advancement, and implementation.