Kunming Machine Tool

China General Technology (Group) Holding (GENRTEC) acquired a 77.14% share in Kunming Machine Tool, becoming its largest and controlling shareholder, as part of the reorganization of Kunming Machine Tool.

Kunming Machine Tool sold a VMG6 five-axis boring and milling machine to Shandong Haomai Machinery Technology for 40 million yuan via public listing.

Kunming Machine Tool Co., Ltd. received an order from a Chongqing-based equipment manufacturing company for one XK2850 CNC gantry boring-milling machine and one TK6916S CNC floor-type boring-milling machine. This follows a previous order for an XK2780 machine in late 2016.

On October 1, 2017, a Chongqing equipment manufacturing company placed an order with Kunming Machine Tool for one XK2850 CNC gantry milling machine and one TK6916S CNC floor-type boring and milling machine, following a previous order for an XK2780 in late 2016.

Shanghai Chuangli Group ordered 32.4 million yuan worth of machine tools from Kunming Machine Tool in 2017, including a 12.4 million yuan order in early 2017 and a 20 million yuan additional order in July 2017. The order includes 10 machine tools.

Kunming Machine Tool signed supplementary agreements with the Panlong District government regarding land and building compensation for its factory site. The payment terms were modified to a single lump sum of approximately RMB 118 million, due by December 25, 2016.

Kunming Machine Tool's shareholders approved the sale of its horizontal boring machine and planer-type boring machine business and related assets, as well as subsidiaries Kunming Kunji General Equipment Co., Ltd. and Xi'an Saier Pump and Compressor Complete Set Equipment Co., Ltd., via public listing.