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On December 26th, Zhejiang Rongtai (stock code: 603119.SH) unveiled its strategic move to co-invest and set up a joint venture alongside Suzhou Victor Electric Technology Co., Ltd. in Thailand. This collaborative venture is poised to specialize in the R&D (Research and Development) and manufacturing of mechatronics components, intelligent transmission systems, and ancillary products, with a shared vision to expand the mechatronics market for intelligent robots.
Under this partnership, both entities will equally own a 50% stake in the joint venture, contributing funds to fuel its growth. It's important to note that this letter of intent for cooperation serves as a foundational agreement, paving the way for future detailed discussions and the eventual implementation of specific plans.
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