Tiancheng Controls subsidiary enters eVTOL agreement

Zhejiang Tiancheng Controls (SSE: 603085) announced that its holding subsidiary, Guangdong Tiancheng, has signed a strategic framework agreement with Guangdong Gaoyu Technology. The agreement focuses on collaborative research, development, and production of components and materials for electric vertical takeoff and landing (eVTOL) aircraft. Both parties will leverage their respective resources to jointly advance technological innovation and mass production in the field of low-altitude aviation. Specifics include joint efforts in areas such as aviation seat assembly, interior parts, intelligent cabins, and airframe structure design. The agreement does not involve specific transaction amounts, and its impact on the company's current-year operating results is not expected to be significant. Further agreements will define rights and responsibilities for technology development and product procurement. The company cautions that implementation is subject to industry policy adjustments, market changes, and other unforeseen factors.