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Our company and Cixing Co., Ltd. signed a cooperation agreement on February 28th to jointly establish Ningbo Cixing Robot Technology Co., Ltd. to carry out system integration and sales of Eft Industrial Robot. Among them, Cixing Co., Ltd. invested 8 million yuan, accounting for 80%. Our company invested 2 million yuan, accounting for 20%.

According to the agreement, the business scope of the joint venture company is mainly based on the sales and system integration of our company's industrial robots, focusing on the development of welding, handling, electronics and small household appliance industry precision assembly, hardware industry polishing and other industry integration. The establishment of the joint venture company mainly integrates the advantages and resources of the two sides in the technical, management and marketing direction to expand in the field of robotics.