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Longsheng Technology (300680.SZ) has declared that it has entered into a supervision pact with the People's Government of Binhu District, Wuxi City, and inked a project implementation cooperation agreement with the Lihu Sub-district Office. The company is slated to invest 350 million yuan in Binhu District, Wuxi, for the construction of the Jiangsu Longsheng Weirui Embodied Intelligent Robot Innovation Center. Of this total investment, the company itself will cover roughly 200 million yuan for land acquisition and construction projects. Meanwhile, its controlled subsidiary, Longsheng Weirui, will take charge of nurturing and operating the project, with an investment of around 150 million yuan. This initiative will center on the research, development, and commercialization of embodied robots tailored for industrial use.
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