RoboSense (02498) has announced that all matters relating to the proposed disposal of certain target businesses and assets by the group to the buyer under the transfer agreement have been completed.
According to the announcement, Shenzhen RoboSense and the buyer agreed that the final condition precedent under the transfer agreement was fulfilled on November 3, 2026, and therefore the proposed disposal has been completed in accordance with the terms and conditions of the transfer agreement.
Upon completion, all assets and liabilities, rights and obligations, and risks related to the target businesses and assets will transfer to the buyer, and the target businesses and assets will no longer be consolidated into the company's consolidated financial statements.
As disclosed in the announcement, the group is committed to further developing into a leading robotics technology platform company, focusing beyond its core LiDAR products on providing a broader set of components and end-to-end solutions for physical AI, including core components for embodied robots.
The company believes that the proposed disposal will allow the group to focus more on its long-term strategic plan, namely developing significant and critical incremental components for embodied robot manufacturers.
Although the company will not engage in the research, development, and sale of embodied robots, it will continue to focus on the research, development, manufacturing, and sale of LiDAR products and robot components, and may participate in manufacturing embodied robots based on subcontracting orders received from embodied robot manufacturers.
Since the buyer is an embodied robot OEM primarily engaged in the research, development, manufacturing, and sale of embodied robots, it is expected that after completion of the proposed disposal, the group and the buyer will establish a strategic business relationship under which the group may, in the ordinary course of their respective businesses and on an arm's length basis, sell to the buyer and/or its subsidiaries its significant and critical incremental components for embodied robots, including but not limited to spatial cameras, visual/MEMS tactile and mechanical joints.
All future transactions between the group and the buyer or its subsidiaries will be conducted in the ordinary and usual course of business and on an arm's length basis.
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