Shenyang Machine Tool announced that the company received a “Notice Letter on Investment and Business Opportunities” from General Technology Group, the controlling shareholder. The subject of this transaction was 68.87% of Nanjing Erji Gear Machine Tool Co., Ltd. Since the main business of Nanjing Second Machinery is R&D, production and sales of gear machine tools, it belongs to the same metal cutting machine tool industry as the company, and there is potential competition among peers. After careful analysis and judgment, the company plans to abandon this commercial opportunity to acquire Nanjing Second Aircraft. After the company abandons the acquisition of the Nanjing Second Aircraft business opportunity, General Technology Group will implement the acquisition of the Nanjing Second Aircraft business opportunity starting from the overall strategic plan.

Shenyang Machine Tool announced that the company received a “Notice Letter on Investment and Business Opportunities” from General Technology Group, the controlling shareholder. The subject of this transaction was 68.87% of Nanjing Erji Gear Machine Tool Co., Ltd. Since the main business of Nanjing Second Machinery is R&D, production and sales of gear machine tools, it belongs to the same metal cutting machine tool industry as the company, and there is potential competition among peers. After careful analysis and judgment, the company plans to abandon this commercial opportunity to acquire Nanjing Second Aircraft. After the company abandons the acquisition of the Nanjing Second Aircraft business opportunity, General Technology Group will implement the acquisition of the Nanjing Second Aircraft business opportunity starting from the overall strategic plan.