Core Viewpoint - The company plans to establish a joint venture in Indonesia with PINQUAN TECH PTE.LTD., with ownership stakes of 51% and 49% respectively, to expand its operations in the electrical equipment sector [1] Group 1: Joint Venture Details - The first joint venture will focus on the production and sales of high and low voltage electrical equipment, along with related consulting and maintenance services, with a registered capital of $1.3 million and a total planned investment of $2.35 million [1] - The second joint venture will engage in wholesale and retail of electrical components, system integration equipment, and hardware products, providing both software and hardware consulting services, with a registered capital of $650,000 and a total planned investment of $650,000 [1] Group 2: Funding and Management - The investment will be funded from the company's own resources, and there is no need for shareholder meeting approval, as the board has authorized management to handle the specific matters [1]

XINGCHEN INVEST PTE.LTD.与PINQUAN TECH PTE.LTD.在印尼共同出资设立两家合资公司，双方 持股比例分别为51%和49%。合资公司一主营业务为生产与销售高低压电气成套设备，并提供相关咨 询、维修服务，拟注册资本130万美元，股东按股权比例出资，本轮计划投资总额为235万美元；合资公 司二主营业务为批发与零售电气元器件、系统集成设备及五金产品，并提供软硬件咨询服务，拟注册资 本65万美元，股东按股权比例出资，本轮计划投资总额为65万美元。以上信息以印尼当地相关部门最终 核准为准。 格隆汇12月25日丨未来电器(301386.SZ)公布，为响应国家"走出去"发展战略，公司计划积极拓展海外市 场布局，拟通过设立路径公司COGLORY HOLDING PTE.LTD.及Coglory One Inc以自有资金设立境外主 体XINGCHEN INVEST PTE.LTD.。新设主体XINGCHEN INVEST PTE.LTD.（简称"甲方"）将与 PINQUAN TECH PTE.LTD.（简称"乙方"）在印度尼西亚（简称"印尼"）共同投资设立合资公司，并签 署了《对外投资协议》 ...

Group 1 - The company plans to establish an overseas entity, XINGCHEN INVEST PTE.LTD., to jointly invest with Singapore's PINQUAN TECH PTE.LTD. in two joint ventures in Indonesia [1] - The first joint venture will focus on the production and sales of high and low voltage electrical equipment, with a registered capital of $1.3 million and a total planned investment of $2.35 million [1] - The second joint venture will engage in wholesale and retail of electrical components, system integration equipment, and hardware products, with a registered capital of $650,000 and a total planned investment of $650,000 [1]

Core Viewpoint - Efort Intelligent Robot Co., Ltd. continues to report losses, with expectations of ongoing losses through 2025, despite a growing demand for industrial robots in China [1][2] Financial Performance - In the first three quarters of 2024, Efort achieved revenue of 1.018 billion yuan, which decreased to 702 million yuan in the same period of 2025, representing a decline of over 30% [2] - The net loss for the same periods increased from 105 million yuan to 200 million yuan, nearly doubling the loss [2] - Revenue from non-strategic system integration business fell by 57.26%, contributing significantly to the overall revenue decline [2][3] Market Dynamics - The industrial robot market in China saw a production increase of 29.8% year-on-year in the first three quarters of 2025, with strong demand for smart manufacturing [1] - Despite the growth in production and sales, Efort's revenue from robot business decreased by 17.05% due to ongoing price competition [3][4] Cost and Profitability Issues - Efort's gross profit margin has significantly declined, from 17.20% in 2024 to 7.55% in the first three quarters of 2025, a drop of nearly 55.90 percentage points [3][6] - The company reported a negative cash flow from operating activities of -211.05 million yuan for the first three quarters of 2025, worsening from -487.71 thousand yuan in the same period of 2024 [6][7] R&D Investment - Efort has significantly increased its R&D investment, with expenditures rising by 86.29% year-on-year in the first three quarters of 2025, accounting for 20.64% of revenue [7][8] - The company’s focus on R&D is aimed at enhancing its robot business, although this high level of investment is squeezing profit margins [8] Strategic Initiatives - Efort is investing approximately 1.893 billion yuan in a new super factory in Wuhu, which is expected to produce 100,000 high-performance industrial robots annually once fully operational [9][10] - The super factory project is part of Efort's strategy to capitalize on the growing opportunities in the robotics sector [9]