On July 23, Tiangong International (00826.HK) disclosed that its subsidiary, Tiangong Cemented Carbide, inked a joint venture pact with Mingchuang Jintou and Fanyu Technology on the same day. Their shared goal is to establish Jiangsu Tiangong Electronic Technology Co., Ltd. (a provisional name, pending final registration). This collaboration, founded on the principles of equality, mutual consent, and consultative decision-making, is designed to harness the unique strengths of each party in terms of market resources, sales channels, technological R&D, production management, cost control, and interconnection within the realm of PCB precision machining tools. Together, they aim to propel the PCB precision tool project forward. The project company's business scope will encompass the production of precision tools and automated measuring devices, the fabrication and upkeep of specialized electronic equipment, instruments, and industrial molds, the distribution of self-manufactured products, PCB mechanical laser drilling services, leasing of owned equipment, as well as the wholesale, import and export, commission agency (auction services excluded), and auxiliary services for related products.