Zhejiang Rongtai: Plans to invest 20 million yuan to establish a wholly-owned subsidiary company.

Zhejiang Rongtai Announcement: The company plans to invest in the establishment of a wholly-owned subsidiary, Zhejiang Rongtai Intelligent Robot Co., Ltd, in Jiaxing, Zhejiang. The company will invest 20 million yuan with its own funds, accounting for 100% of the subsidiary's registered capital. This investment aims to further clarify the strategic layout, improve the company's organizational structure and management system, enhance the efficiency of existing assets utilization, and improve management efficiency. The establishment of the new company provides a new platform for the company's business development, which is beneficial for accelerating the marketization and industrialization of the robot business, and improving the company's overall competitiveness. This investment will not have a significant adverse impact on the company's finances in the strategic investment plan, and there is no situation that will harm the interests of the company and all shareholders. It plays a positive role in expanding the overall scale of the company and enhancing profit capabilities.