Geelong December 2nd- Qin Chuan Machine Tool (000837.SZ) announced that in order to comprehensively improve the brand influence of "Hangong" and the market share of high-precision and complex cutting tools, vigorously promote enterprise transformation and upgrading, and high-quality development, Qinchuan Machine Tool & Tool Group Share's wholly-owned subsidiary Hangong Tools Co., Ltd. (referred to as "Hangong Tools") plans to implement the "High-precision and complex cutting tool technology transformation and industrialization project", with a total investment of 51.3 million yuan and a project construction period of 2 years.
The main purpose of this project is to solve the core processing bottlenecks of high-precision and complex cutting tool products of Hangong Tools, expand the production capacity of related products, promote product upgrades and industrial adjustments, comprehensively seize the market, continuously improve the company's core competitiveness and profitability, and expand the direction and space for the company's future development.