other material
confidence high
sentiment neutral
materiality 0.40
Flywheel Advanced Technology incorporates Blue Print Global, BVI subsidiary for warehouse patrol robots
FLYWHEEL ADVANCED TECHNOLOGY, INC.
- Company holds 70% of Blue Print; remaining 30% held by two unrelated individuals.
- Blue Print appointed Yiu Chung Ho as sole director; he has mechanical engineering and robotics background.
- Blue Print entered 5-year agency agreement with ISCA for distribution of patrol robots in China.
- ISCA receives 10% commission on direct orders; minority shareholder Sau Ping Leung is married to ISCA partner.
- Company will provide interest-bearing shareholder loans to Blue Print if needed, at HKIBOR + 3%.