Quantgroup (HKG:2685) said it was partnering with Tungkong (SHE:002117) on advancing embodied intelligent robots in the areas of home services, commercial scenarios and automobile showrooms, according to a Thursday filing with the Hong Kong bourse.
The e-commerce platform operator's shares fell nearly 14% in morning trade Friday.
Under the strategic cooperation framework agreement, Quantgroup's Silicon (Beijing) Intelligence Technology Development will be authorized as the preferred strategic agent of Tungkong's AIYA series.
Both sides will also cooperate on a new generation of home service robots and dedicated service robots.
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