Fangzheng Electric (002196.SZ) plans to establish a joint venture with Bosch and others, focusing on high-performance magnetic drive transmission systems.

Zhongan Finance APP reported that Fangzheng Electric (002196.SZ) announced that the company, along with its indirect controlling shareholder Huzhou Moganshan State-owned Capital Control Group Co., Ltd.'s subsidiary Deqing Caichuang Phase I Equity Investment Partnership (Limited Partnership) (referred to as "Caichuang Phase I"), Robert Bosch Internationale Beteiligungen AG (referred to as "RBINT"), Bosch (China) Investment Co., Ltd. (referred to as "RBCN," collectively referred to as "Bosch"), and Jiangsu Bozhong Intelligent Technology Group Co., Ltd. jointly contributed RMB 39 million to establish Zhejiang Lequ Technology Co., Ltd. (temporary name, subject to review by the registration authority).