XCMG Machinery Invests in Intelligent Technology Research Institute

Recently, Hangzhou Xugong Intelligent Technology Research Institute Co., Ltd. was established, with legal representative Li Lockyun and registered capital of RMB 30 million. Its business scope includes: engineering and technology research and test development; intelligent control system integration; intellectual property services (except patent agency services); new material technology promotion services, etc. The shareholding shows that the company is jointly owned by Xuzhou Xugong Hydraulic Parts Co., Ltd, which is a wholly-owned subsidiary of Xugong Machinery (000425).