# Qinchuan Machine Tool plans CNY 1.23B fundraising for industrial machine tool projects

Qinchuan Machine Tool Group Co., Ltd. announced a private placement to raise up to CNY 1.23 billion. Funds will be used for the Qinchuangyuan·Qinchuan Group high-end industrial machine tool innovation base project (phase I), R&D of rolling functional components for new energy vehicles, new energy vehicle parts manufacturing, and complex tool chain strengthening projects.

- Type: Investment
- Announced: 2022-07-06
- Where: China
- Value: $183.0M (1.23B CNY)
- Status: announced
- Products: high-end industrial machine tools, rolling functional components for new energy vehicles, new energy vehicle parts, complex tools
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md), [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Qinchuan Machine Tool Group Co., Ltd.](https://endata.com/companies/14943.md)
- [Fast Gear Group](https://endata.com/companies/63972.md) (investor)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/750918.html), 2022-07-06: "秦川机床(000837.SZ)发布公告，该公司拟非公开发行股票募集资金总额(含发行费用)不超过12.3亿元。"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.