Understanding the Market | MAXNERVA TECH rose over 23% against the market trend. The company is a listed subsidiary of Foxconn and had previously reached a strategic cooperation agreement with UBTECH ROBOTICS

According to the Zhitong Finance APP, MAXNERVA TECH (01037) rose over 23% against the market trend, and as of the time of writing, it has increased by 18.06%, trading at HKD 0.85, with a transaction volume of HKD 20.3091 million.

In terms of news, MAXNERVA TECH previously announced that its wholly-owned subsidiary MAXNERVA Shenzhen has signed a memorandum of understanding for a potential strategic cooperation with UBTECH ROBOTICS (09880). According to this agreement, MAXNERVA Shenzhen will be responsible for the global sales, marketing, and after-sales service of humanoid robot products, while UBTECH will handle the research and development, manufacturing, and technical support for the relevant products. Public information shows that MAXNERVA TECH is an associated listed company of Hon Hai Precision Industry Co., Ltd. It is reported that UBTECH's humanoid robots have previously entered Foxconn's factory for practical training. With this signing with MAXNERVA, it is expected that UBTECH will soon receive its first batch of humanoid robot orders from Foxconn