CNOOC-affiliated entities and Unitree Robotics plan new joint venture for industrial embodied robot solutions

On November 4, the Beijing Administration for Market Regulation published a notice regarding a simplified merger case. The transaction involves Kunlun Manufacturing and its affiliates, along with Unitree Technology and Beijing Fanjie Intelligent Technology, signing an agreement to establish a new joint venture focused on industrial embodied intelligent robot solutions. Post-transaction, Kunlun Manufacturing and its affiliates will hold 60% of the equity, while Unitree Technology and Fanjie Intelligent each hold 20%. The companies intend to jointly control the new entity.