Lianhe Sowell (LHSW) International Group received a letter of intent from a large investment fund in China, Hangzhou Yuhang Economic Development Equity Investment Fund, for a funding of no more than RMB200 million. The Company plans to apply the investment primarily to support the R&D of its next-generation industrial robots and the construction of the Company’s manufacturing base in Hangzhou, Zhejiang province. The LOI is non-binding and the final investment terms will be subject to a definitive agreement between the Company and the Fund.
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