Zhejiang Rongtai (603119.SH) plans to establish a subsidiary in Jiaxing, Zhejiang to accelerate the progress of its robot business.

Wisdom Financial APP news, Zhejiang Rongtai (603119.SH) announced that the company plans to invest in the establishment of a wholly-owned subsidiary in Jiaxing, Zhejiang. The final name of the company will be subject to registration by the market supervision department. The company will invest 20 million yuan with its own funds, accounting for 100% of the registered capital of the company. The establishment of this wholly-owned subsidiary is a measure taken 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 based on the actual situation of the company's operation and development. The establishment of the new company will provide a new carrier and platform for the company's business development, which is conducive to accelerating the marketization and industrialization of the robot business, and is conducive to enhancing the company's overall competitiveness.