NetEase Soars After Sealing Smart Robot Deal With Unit of Chinese Construction Giant
Liao Shumin
DATE:  Dec 08 2022
/ SOURCE:  Yicai
NetEase Soars After Sealing Smart Robot Deal With Unit of Chinese Construction Giant NetEase Soars After Sealing Smart Robot Deal With Unit of Chinese Construction Giant

(Yicai Global) Dec. 8 -- NetEase’s shares surged after a report that the Chinese internet giant signed a deal with a unit of China State Construction Engineering, the world's largest investment and construction group, to jointly research and bring to market smart construction robots.

NetEase [HKG: 9999] ended 8 percent higher at CNY112.20 (USD16.09) a share today. Its New York-traded stock [NASDAQ: NTES] finished little changed at USD68.40 yesterday.

Hangzhou-based NetEase will work with China Construction Eighth Engineering Division to create for launch in the next three years new intelligent construction robots, Shanghai Securities News reported today.

Fuxi Lab, an artificial intelligence research institute under NetEase, has already joined hands with CCEED to develop a driverless excavator that can be remotely controlled and operate in oxygen-deprived environments at up to minus 20 degrees Celsius and 4,000 meters above sea level.

NetEase will use its technological resources to provide intelligent digital twins for more and more machinery and equipment, Chief Executive Officer Ding Lei said, according to Shanghai Securities News. “Let the scenario of 'one person simultaneously controlling hundreds of machines working non-stop for 24 hours' become a reality,” he said.

Editor: Futura Costaglione

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Keywords:   Netease,Strategic Cooperation,Robot