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On December 26, Zhejiang Rongtai (stock code: 603119.SH) revealed that it has entered into a 'Joint Venture Letter of Intent' with Suzhou Vector Electrical Technology Co., Ltd. The collaboration aims to jointly invest in and set up a joint venture enterprise in Thailand, with both entities holding an equal 50% share. The primary focus of the joint venture will be on the research, development, and manufacturing of mechatronic components, intelligent transmission systems, and allied products. Additionally, the venture will work towards jointly expanding the mechatronic market for intelligent robots. It's important to note that this letter of intent functions as a preliminary framework agreement, with the specific terms and conditions still open for further discussion and negotiation.
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