RoboSense to Sell Embodied Robot Business in Connected Deal, Focus on Core Parts

RoboSense has announced a plan to sell its group's embodied robot complete-machine business and related assets for a total cash consideration of RMB 59.878 million.

The buyer is 35% controlled by Dr. Qiu Chunxin, the company's board chairman and chief scientist. Because of that relationship, the disposal constitutes a connected transaction under Chapter 14A of the Hong Kong Stock Exchange Listing Rules.

As a connected transaction, the deal must comply with Hong Kong's regulatory framework for related-party dealings.