Shenyang Machine Tool (000410.SZ) announced on September 13 that in order to integrate the company's production and manufacturing resources and business layout, optimize the company's management structure, reduce management levels, and reduce management costs, the company plans to absorb and merge its wholly-owned subsidiary Shenyang UNIS Smart Equipment Co., Ltd. (referred to as "UniSmart"). The company plans to establish a division to take over UniSmart's assets, liabilities, personnel, and business. After the merger is completed, the subsidiary UniSmart will be deregistered according to legal procedures.
This merger is beneficial to further optimize the management structure of the merging party, reduce management costs, improve operational efficiency, and comply with the company's development strategy. UniSmart's financial statements have been included in the company's consolidated financial statements. The merger will not have a substantial impact on the company's financial condition, business development, and sustained profitability, and will be in the interest of the company and all shareholders.