Xiamen XGMA Machinery Co., Ltd. (600815.SH) said Wednesday evening that the company plans to invest 42 million yuan in a robot joint venture together with three partners. The joint venture, with a planned registered capital of 100 million yuan, will be dedicated to development of engineering robots and intelligent electronic control systems.
Xiamen XGMA will hold a 42 percent stake in the joint venture, while AVIC Xi'an Flight Automatic Control Technology Co., AVIC International Beijing Company Limited, and a Xiamen-based consulting firm own 38 percent, 11 percent, and 9 percent of the robot company, respectively.
Latest comments