Wetour Robotics Says US Unit Pursuing Agreement With Warehouse Automation Firm

MT Newswires Live07-27

Wetour Robotics (WETO) said Monday its US unit Wetour Travel Tech is pursuing a cooperation agreement with a company that specializes in warehouse automation and logistics robotics.

The proposed partner would back the implementation of Wetour Robotics' Orchestra commercial project, which includes robotic-system integration, hardware deployment, and onsite implementation, among other projects, the company said.

Management preliminarily estimates that a full project rollout may generate about $5 million in project-level gross profit, Wetour said.

Wetour added that no agreement with the planned partner has been signed as of Monday, and the proposed cooperation is subject to talks, technical evaluation, internal approvals and definitive documentation.

Wetour shares were down 46% in Monday trading.

Price: 0.05, Change: -0.05, Percent Change: -47.37

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