Jingcheng Machinery

Beijing Tianhai Industrial, a subsidiary of Jingcheng Machinery, signed an agreement with Kuancheng Shenghua to establish Kuancheng Tianhai in Hebei province. Beijing Tianhai will contribute RMB 49.85 million in cash and technology for a 61.1% stake, while Kuancheng Shenghua contributes land and equipment for 38.9%.