Jiangsu Henry Modular Machine Tool Company,a national high-tech enterprise enjoying a solid technical background andmanufacturing heritage, has undertaken a number of national major equipmentprojects and scientific and technological research projects. It has uniqueadvantages in the field of CNC machine tools in China. Ningshing Special SteelGroup is committed to building a special steel "production, marketing,research and financing" ecosystem, with a national market network andstrong operating advantages, ranking the forefront of the domestic specialsteel distribution industry. The two parties leveraged respective advantages tosuccessfully cooperate in the research and development of the circular sawproject in 2016, and started close business cooperation in August 2020, andachieved expected results through joint efforts. In order to further utilizethe advantages of both parties, integrate resources, and extend the industrialchain, the two parties reached a consensus and decided to launch acomprehensive strategic restructuring and cooperation to jointly build aleading enterprise in China's intelligent high-end equipment manufacturingindustry, and actively promote IPO in capital market.
On the afternoon of December 28, 2020,"Letter of Intent Signing Ceremony of Strategic Reorganization Cooperationbetween Ningshing Special Steel Group and Jiangsu Henry Modular Machine "was held at Jiangsu Henry Modular Machine Tool Company. The signing ceremonywas presided over by President Huang Yongzeng of Ningshing Holdings. ChairmanZhong Qiu and Chairman Wang Wentong delivered speeches on behalf of bothparties. Finally, Chairman Wu Yigang of Ningshing Holdings made a speech,hoping that the two parties will further enhance their technological innovationcapabilities, promote industrial intelligent technology, innovate business models,and vigorously explore international and domestic markets, and form four newadvantages as of ‘industry, enterprise, product, and innovation’.
Under the joint witness of the leaders andparticipants on-site, Chairman Zhong Qiu of Jiangsu Henry Modular Machine and ChairmanWang Wentong of Ningshing Special Steel Group signed a letter of intent onstrategic restructuring cooperation on behalf of both parties, opening a newstage of comprehensive strategic restructuring cooperation.
