Jiangsu Lixing General Steel Ball (SHE:300421) partnered with Zhejiang Rongtai Electric Material (SHA:603119) for the production of ball screw components for industrial robots, according to a Shenzhen bourse filing on Friday.
The Chinese mechanical parts manufacturer will supply rolling elements for the products, while Rongtai will engineer the products.
Lixing General Steel Ball's dipped 10% and Rongtai's shares slumped less than 8% at the close.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments