Richtech Robotics shares rise 1.03% premarket after securing a $4 million sales agreement in China.

Richtech Robotics Inc. rose 1.03% in premarket trading, with the company announcing a multi-million-dollar sales agreement with Beijing Tongchuang Technology Development Co. Ltd. through its Chinese joint venture, Boyu Artificial Intelligence Technology Co. Ltd. The deal, valued at over $4 million, includes the purchase, service, and software licensing of products from three of Richtech's key product lines: ADAM, Scorpion, and Titan. This partnership is expected to increase the company's fourth quarter revenue and drive recurring revenue moving forward, expanding its footprint in China and opening additional opportunities across the Asian market.