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JINAN, China, April 3, 2025 /PRNewswire/ -- How to Start a CNC Business from Scratch Starting a CNC business can seem like a big step—especially for those who have the skills, the contacts, and maybe even the tools, but no roadmap. Many aspiring entrepreneurs get stuck on questions like: How profitable is CNC machining? How much does it cost to get started? Where do the first customers come from? To help answer those questions, Blue Elephant CNC—a global CNC machine manufacturer with years of industry experience—has developed a comprehensive guide. It's designed to help machine dealers, repair specialists, or anyone with machining knowledge turn their capabilities into a profitable CNC venture. "Many of our clients had everything in place except a clear plan," says Jack Zhang, founder of Blue Elephant CNC. "They had experience, contacts, even workshop space—but they didn't know how to start. That's what this guide solves." Whether you're looking to offer CNC services as part of an existing operation or you're starting from scratch, this roadmap outlines the real steps involved. It's not theory—it's what Blue Elephant CNC has seen work for actual clients. It covers everything from setting up a workshop to winning your first contracts. Step 1: Identify Your Niche Trying to serve every market at once can lead to thin margins and operational chaos. Blue Elephant CNC encourages new businesses to focus their efforts by choosing a specific service model: Custom part production for dealers: If you're connected to dealerships, offer quick-turn, low-volume replacement parts. These customers often require high reliability and fast delivery. Building on your current distribution relationships allows for faster customer acquisition and higher repeat orders. Rapid prototyping for engineers: Cater to startups that need fast, precise prototypes for testing and development. Many engineers need 1-5 sample pieces, not full runs. If you can meet tight deadlines and communicate clearly, you'll win loyal clients in R&D-heavy industries. CNC repair and upgrades: Offer servicing and retrofitting for shops using older equipment. Many small operations can't afford new machines and need affordable upkeep options. This niche is in high demand—especially in industrial zones with aging infrastructure. Machine rental or leasing: Ideal in regions with high demand but limited access to equipment. This can include short-term or project-based equipment access. It requires fewer staff but a strong maintenance and scheduling process. Engraving, marking, or branding: Appeals to both industrial clients and consumers needing serialized or branded parts. These are typically small-batch, repeatable jobs. Adding creative services increases your average order size and customer stickiness. Specializing allows you to work more efficiently and market more clearly. Blue Elephant CNC advises using your current connections and technical strengths to pick a profitable starting point. Step 2: Create a Business Plan A well-structured business plan helps you make smarter decisions and attract funding. It's not just a formality—it's the foundation for every major decision you'll make. Blue Elephant CNC recommends every shop, no matter how small, create a clear business plan covering: Defined services: Know what you'll offer and what materials you'll focus on. Clear offerings avoid confusion and help customers understand your value. It also simplifies machine and tooling decisions. Target customers: Be clear about who you're serving. Focus on specific industries or business types that need your expertise. Research 10–20 real businesses you could pitch in your first 3 months. Your edge: Faster delivery? Lower cost? Precision finishes? Think about what differentiates your business. Blue Elephant CNC often helps clients position their offering for contract success. Startup and ongoing costs: Cover everything from tools to insurance, raw materials, utilities, and software subscriptions. Use actual supplier quotes wherever possible. Pricing strategy: Account for machine time, material waste, labor, and utilities. Don't forget to include markup for profit. Run a few job simulations to test pricing. Growth vision: How will you scale? Through automation, staff expansion, new services? What milestones will you track in your first year? Blue Elephant CNC has helped many clients develop realistic business plans that evolve as they grow. Starting small with a clear path makes future investments easier. Step 3: Calculate Startup Costs Startup costs vary, but here are the main categories: CNC Machines: $10,000–$100,000+. Blue Elephant CNC provides starter packages and financing options. Consider machine versatility, training support, and warranty terms. Software: $2,000–$10,000 for design and CAM tools. CAD/CAM software is essential for precision and speed. Include recurring licensing fees. Workshop Setup: Power upgrades, benches, dust collection—$5,000–$50,000. Consider air compressors, lighting, and proper safety systems. Raw Materials: $5,000–$15,000 depending on your focus. Buy enough to fulfill your first 5–10 orders. Licensing & Insurance: Around $500–$3,000. Check zoning laws, permits, and required insurance in your region. Marketing: Websites and branding from $2,000+. A simple site with testimonials and service pages is enough to start. Blue Elephant CNC suggests building a detailed spreadsheet of both upfront and monthly costs. Include tooling, maintenance, and shipping to avoid surprises. They often work with clients to plan financing and capital allocation. Step 4: Register Your Business Before launching, get legally registered: Choose a structure: LLCs are often best for CNC shops. They protect personal assets and are tax-efficient. If you plan to raise funds or sell equity later, consider an S-Corp. Register your name: Make it industry-relevant and unique. A professional name builds trust. Check domain availability if you plan to market online. Apply for an EIN: Needed for banking and payroll. Secure licenses and permits: Required in many industrial zones. Check local zoning and business regulations. Some areas require specific environmental approvals. Open a separate bank account: Keep personal and business funds apart. Blue Elephant CNC emphasizes the importance of staying compliant with OSHA, EPA, or ISO standards if your work falls under regulated industries. Missing paperwork can delay machine installation and delay revenue. Step 5: Purchase Machines and Tools Your main investment should align with your services: Mills: For metal or plastic part production. These are the most common machines in CNC shops. Lathes: Best for cylindrical parts. Many repair and automotive jobs require them. Routers: Great for wood, foam, and plastic. Used in signage, cabinetry, and decor. Plasma Cutters: Ideal for sheet metal cutting. Often used in HVAC or metal fabrication. 5-Axis Machines: For high-precision or complex jobs. Aerospace and medical fields demand them. Blue Elephant CNC provides tailored recommendations based on client needs. Also invest in: Tooling and holders: These determine your cut quality and speed. Workholding gear: Fixtures and clamps secure parts during machining. Inspection tools: Calipers, micrometers, and gauges. Dust collection systems: Vital for health and equipment longevity. Don't overspend early. Start with essential tools and scale as orders grow. Step 6: Source Raw Materials Your choice of raw materials directly impacts part quality, machining speed, and pricing. Blue Elephant CNC recommends beginning with a focused inventory of core materials suited to your niche. Common starting points include: Aluminum or steel: Ideal for structural, mechanical, and automotive components. Plastics: Useful for lightweight parts, electronics housings, or rapid prototyping. Wood or MDF: Common for signage, cabinetry, and decorative projects when using CNC routers. Reliable sourcing is just as important as material selection. Look for: Local distributors: Offer faster turnaround and easier communication. Online marketplaces: Provide wider selection and user reviews for comparison. Direct from mills: Cost-effective for large orders, though usually with high minimums. To reduce delays and quality issues, Blue Elephant CNC suggests building relationships with at least two trusted suppliers. Ask about lead times, bulk pricing, delivery reliability, and whether they provide test samples or material certifications for compliance-heavy industries. Step 7: Learn CNC Programming & Techniques Even the most advanced CNC machines need skilled operators to deliver quality results. Blue Elephant CNC emphasizes that strong technical knowledge is essential for running an efficient and profitable shop. Key areas to focus on include: G-code and M-code basics: These programming languages control movement, tool changes, and operations. Understanding how to read and adjust code can help troubleshoot issues and improve accuracy. CAM software operation: Learning how to set up, simulate, and generate toolpaths using software like Fusion 360 or Mastercam is crucial for smooth production. Feeds and speeds per material: Setting the correct parameters prevents tool wear, improves part quality, and boosts efficiency. Tool selection and maintenance: Using the right tools—and knowing when to replace them—ensures consistency and reduces downtime. Fixturing best practices: Proper workholding prevents vibration and errors during machining. Blue Elephant CNC offers guidance on software selection and connects clients to training resources. Whether you're self-learning or hiring a skilled operator, mastering these areas is key to long-term success. Step 8: Set Up Your Workshop A well-organized workshop can significantly boost productivity and reduce errors. Blue Elephant CNC advises business owners to prioritize layout and workflow early in the setup process. Key setup tips include: Logical material flow: Arrange stations so materials move smoothly from delivery → machining → inspection → packaging. Safe spacing: Leave enough room between machines and walkways to allow easy movement and prevent accidents. Clean environment: Dust and chip control is essential for both machine health and worker safety—install proper dust collection or ventilation systems. Compliance: Ensure your facility supports electrical loads for CNC machines, has designated PPE zones, and meets safety regulations. Other smart layout considerations: Set up dedicated storage for raw materials and finished parts to avoid clutter and confusion. Keep inspection tools near machining areas to speed up quality checks. Use visual boards or workflow charts to monitor active jobs and deadlines. Even small spaces can operate efficiently when thoughtfully arranged. Blue Elephant CNC works closely with new shops to design productive, scalable layouts from day one. Step 9: Build a Marketing Strategy Many CNC businesses struggle because they wait for clients to come. Blue Elephant CNC recommends starting with: Website: List services and upload sample parts. Google My Business: Helps nearby clients find you. Social media: Show your capabilities visually. Direct outreach: Email or call businesses in your target industry. Other tactics include: Publishing articles or case studies about your work. Offering workshops or free consultations for new clients. Asking for Google and LinkedIn reviews from satisfied customers. Referral incentives, testimonials, and industry networking can also help build your brand. Blue Elephant CNC has seen small shops grow fast by combining digital and relationship-based outreach. Step 10: Scale Your CNC Business Once your CNC business is stable and generating consistent work, it's time to think about growth. Scaling effectively means increasing output without compromising quality. Ways to scale include: Adding machines or shifts: More capacity allows you to take on larger orders or reduce lead times. Hiring machinists or designers: Skilled staff help handle increased workload and bring in new capabilities. Automating workflows: Implement automation tools like tool changers or part loaders to save time and reduce manual steps. Expanding services: Offering laser engraving, 5-axis machining, or specialty finishes can help you move upmarket and attract higher-value clients. Blue Elephant CNC recommends using operational data to guide decisions. Analyze which services, machines, or clients generate the most profit—and prioritize scaling those areas. As your shop evolves, Blue Elephant CNC offers ongoing support, advanced equipment options, and strategic insight to help you scale sustainably while staying competitive. Conclusion: Start With Confidence With clear steps and the right support, starting a CNC business doesn't have to be risky. Blue Elephant CNC has helped businesses around the world move from side projects to full-time production shops. With experience-backed guidance and reliable equipment, they're here to help you turn your skills into a business. To learn more or speak with a specialist, contact the Blue Elephant CNC team today: Blue Elephant CNCWebsite: www.elephant-cnc.comEmail: manager@elephant-cnc.com Phone: +86 18668991371
Studio Geo simplifies complex processes, enhances collaboration, and ensures accurate and efficient geological modelling across projects of any scale. BRISBANE, Australia, April 3, 2025 /PRNewswire/ -- Datamine, a trusted leader in mining software solutions, is proud to announce the launch of Studio Geo, its premier geological modelling platform designed to revolutionize the way mining professionals interpret and utilize geological data. Studio Geo is ideal for mine geologists and resource modelling teams, helping them optimise workflows, improve data accuracy, and make informed decisions. Studio Geo block model Bridging the gap in modern mining Studio Geo is built on a deep understanding of the mining industry's unique challenges - from the production pressures of rapidly changing data to the complexities of interpreting diverse ore bodies. Developed by leveraging more than 4 decades of industry expertise, Studio Geo delivers a robust environment where data storage, collection solutions, and world-class resource estimation tools converge seamlessly. The flexibility of the rich macro language allows Studio Geo to match or enhance existing workflows and fit seamlessly into current procedures. It supports mining professionals at every stage of the mining lifecycle, from exploration, resource estimation, operational grade control and mine planning. A vision for the future "Studio Geo represents a major leap forward in geological modelling," said John Bailey, CEO at Datamine. "Our new platform not only bridges the critical gap between data management and resource estimation but also transforms the way mining teams work together. With Studio Geo, we empower our customers to streamline workflows and redefine modelling, while adapting to their unique operational needs." According to Anthony Cook, VP of Geology, the solution "leverages our industry-leading Studio toolkit, alongside our automation language, to deliver a modelling solution that can handle both the intensity and complexity of the mining environment. The workflow is fully flexible and allows for seamless integration with existing data sources". Key features and benefits Flexible, customizable workflows: using Datamine's rich macro language, Studio Geo adapts to unique site and project requirements, allowing users to design workflows that enhance productivity and reduce repetitive tasks. Real-time, dynamic updates: new data is automatically integrated across the platform, ensuring that every geological model reflects the most current information for rapid, confident decision-making. Seamless integration: fully connects with Datamine's suite of tools Studio RM, Fusion and Sable. Integrated with the MineTrust file management and security platform, Studio Geo promotes efficient collaboration across geology, engineering, and resource modelling teams. Enhanced collaboration: With robust access and version control features, Studio Geo ensures that all team members work with conflict-free, up-to-date data, fostering a unified approach to tackling complex geological challenges. Availability After a comprehensive beta testing phase, Studio Geo will be available for full commercial release in mid-2025. This launch marks a significant milestone in Datamine's ongoing commitment to delivering cutting-edge solutions that drive operational excellence in the mining industry. About Datamine For more than 40 years, Datamine has been at the forefront of mining software innovation, delivering reliable, industry-leading solutions that help mining professionals transform data into actionable insights. With a global network of experts and a steadfast commitment to continuous improvement, Datamine remains dedicated to raising the standard of products that support the entire mining value chain. https://dataminesoftware.com/studio-geo-by-datamine/
The company introduces low-carbon aluminum using solar energy, signing a 15,000 tons contract with EGA. Using low-carbon aluminum is expected to reduce carbon emissions to a quarter of the current level. It has proactively introduced eco-friendly raw materials in response to the full-scale enforcement of the European Carbon Border Adjustment Mechanism (CBAM) next year. It plans to secure low-carbon aluminum in the long term in response to the transition to eco-friendly mobility such as EVs. SEOUL, South Korea, April 2, 2025 /PRNewswire/ -- Hyundai Mobis (KRX 012330) will proactively apply low-carbon aluminum produced using solar power to the manufacturing of main automotive components starting this year. This is part of its concrete action plan for achieving the goal of carbon neutrality by 2045. Aluminum is a key material for the lightweighting of mobility, such as electric vehicles, and Hyundai Mobis plans to strengthen its green supply chain starting from the raw material procurement stage in response to the transition to eco-friendly mobility. Hyundai Mobis announced on 2 that it has signed a contract with Emirates Global Aluminum (EGA), a global aluminum producer, securing 15,000 tons of low-carbon green aluminum. EGA is a world-class aluminum producer headquartered in Dubai, United Arab Emirates (UAE), and the aluminum Hyundai Mobis has secured this time is low-carbon aluminum produced using solar power. The 15,000 tons of low-carbon aluminum secured by Hyundai Mobis is the annual amount the company needs, which is worth about 62 billion Korean won. This is more than 20% of the total amount of aluminum the company purchased throughout the last year, which is 67,000 tons in total. Low-carbon aluminum is called an eco-friendly material because carbon is less emitted during its manufacturing process. It is generally known that about 16.5 tons of carbon is emitted during the manufacturing of refining, smelting, and casting to produce one ton of aluminum. On the other hand, the carbon emissions of green aluminum produced by EGA using solar energy are about 4 tons, which is only a quarter of those of regular aluminum. Hyundai Mobis plans to proactively respond to environmental regulations of governments around the world by using the green aluminum it introduced this year in the manufacture of main components such as chassis. In particular, as the European Union (EU) will fully enforce the Carbon Border Adjustment Mechanism (CBAM) regulation from next year, Hyundai Mobis is expected to be able to minimize the impact of the regulation. The CBAM regulation is a program that calculates and charges the carbon emissions of products imported into Europe, targeting six carbon-intensive products: steel, aluminum, electricity, fertilizer, cement, and hydrogen. Hyundai Mobis plans to continue to introduce low-carbon aluminum and make specific efforts to strengthen its ESG management and achieve its carbon neutrality goals. Hyundai Mobis plans to establish a strategic partnership with EGA in the first half of this year to secure a stable and systematic supply of low-carbon aluminum in the future. "We will proactively respond to global environmental regulations by establishing a green supply chain and embody our efforts to reduce carbon emissions from the supply chain stage," said Sun-woo Lee, senior vice president of purchasing, Hyundai Mobis. About Hyundai Mobis Hyundai Mobis is the global no. 6 automotive supplier, headquartered in Seoul, Korea. Hyundai Mobis has outstanding expertise in sensors, sensor fusion in ECUs and software development for safety control. The company's products also include various components for electrification, brakes, chassis and suspension, steering, airbags, lighting, and automotive electronics. Hyundai Mobis operates its R&D headquarters in Korea, with four technology centers in the United States, Germany, China, and India. For more information, please visit the website at http://www.mobis.com. Media Contact Choon Kee Hwang : ckhwang@mobis.com Jihyun Han : jihyun.han@mobis.com
VIEREMÄ, Finland, April 2, 2025 /PRNewswire/ -- The PONSSE Greasing System is a new optional accessory for Ponsse harvester heads, designed for chainsaw lubrication. The system feeds grease to the chainsaw from screw-in grease cartridges according to the dosing settings made through the Opti5G information system. Grease cartridges stored in a warm place ensure effective lubrication throughout the work shift. "This is a solution that makes the workday of a forest machine operator easier, especially in cold weather. The grease cartridges replace the fixed grease tank in the harvester head, so you no longer need to pump cold grease from an external container to the harvester head's grease tank. The cartridge is quick and easy to replace. The cartridges are easy to transport and can be stored in car or cabin," says Toni Rajaniemi, Ponsse's project manager. The lubrication system can hold two 400-gram screw cartridges, which last approximately 8-16 hours, depending on the amount of sawing and dosing settings. The dosing settings can be adjusted from the Opti 5G information system according to the situation and need. The information system notifies the operator when it is time to change the cartridge. The grease cartridge is quick to change, so the machine's downtime is very short. The grease cartridge can be refilled. Ponsse's range includes grease cartridges suitable for various needs such as mineral oil-based grease or new biodegradable oil-based grease. The PONSSE Greasing System is currently available for all PONSSE H6, H7, and H8 harvester heads. The Greasing Systems can also be retrofitted. Further information Markku Huttunen Ponsse Oyj, Senior Product Manager, harvester heads markku.huttunen@ponsse.com, tel. +358 400 252 400 This information was brought to you by Cision http://news.cision.com https://news.cision.com/ponsse-oyj/r/ponsse-greasing-system---new-solutions-for-forest-machines-chain-lubrication,c4129383 The following files are available for download: https://news.cision.com/ponsse-oyj/i/ponsse-greasing-system,c3394312 Ponsse Greasing system
SAO PAULO, April 2, 2025 /PRNewswire/ -- The China-Brazil Economic and Commercial Forum took place in São Paulo, Brazil, on March 28, bringing together high-profile government officials and business leaders from both countries. Keynote speakers included Ren Hongbin, Chairman of the China Council for the Promotion of International Trade (CCPIT); Luiz Augusto de Castro Neves, President of the Brazil-China Business Council; and Yu Peng, Consul General of China in São Paulo. Ren Hongbin, Chairman of the China Council for the Promotion of International Trade (CCPIT), Delivered Speech at China-Brazil Economic and Trade Forum, Urging Bilateral Cooperation between China and Brazil with New Opportunities to Explore at the 3rd China International Supply Chain Expo. In his address, Ren Hongbin highlighted the enduring partnership between China and Brazil, emphasizing CCPIT's commitment to expanding economic collaboration under the Belt and Road Initiative (BRI). Leading a delegation of Chinese entrepreneurs, Ren engaged in high-level talks with Brazilian Vice President Geraldo Alckmin, exploring new opportunities in industrial integration, supply chain resilience, and multilateral innovation. China reiterated its support for Brazil's 2024 BRICS presidency and the mutual goal of a "Golden 50 Years" of robust bilateral cooperation and solidarity among Global South nations. Brazilian participants emphasized the resilience and complementary strengths of economic ties between the two nations in the face of global challenges, including rising protectionism, climate change transitions, and technological disruptions. Key opportunities were identified in green energy, high-value industries, and integrated supply chains, with calls for businesses to leverage platforms like the China International Supply Chain Expo (CISCE) to advance sustainable growth. Co-organized by CCPIT and the Brazil-China Business Council, the forum attracted over 100 delegates from trade agencies, chambers, and companies, culminating in on-site agreements worth over US$2 billion spanning agriculture, mining, and CISCE participation. During the visit, Ren Hongbin headed a delegation of over 40 companies, representing key sectors, including agriculture, food processing, finance, infrastructure, energy, telecommunications, and healthcare. The delegation engaged in strategic talks with Brazilian government and business leaders while touring local companies to identify and pursue collaborative opportunities. For more information, please visit https://en.cisce.org.cn/
HONG KONG, April 1, 2025 /PRNewswire/ -- The Board of Directors (the "Board") of China High Speed Transmission Equipment Group Co., Ltd. (the "Company", Stock Code: 0658.HK, together with its subsidiaries, the "Group") today announced that its wholly-owned subsidiaries, Nanjing High Accurate Drive Equipment Manufacturing Group Co., Ltd. ("Nanjing Drive"), Nanjing Handa Import and Export Trade Co., Ltd. ("Nanjing Handa") and Nanjing Shengzhuang Supply Chain Co., Ltd. ("Nanjing Shengzhuang", together with Nanjing Drive and Nanjing Handa, the "Relevant Subsidiaries"), issued a writ of summons (HCA 656/2025) in the High Court of Hong Kong on 31 March 2025. The Legal Proceedings The action is brought against the following defendants (the "Defendants"): (1) Fang Jian (former Executive Director of the Company and former Legal Representative of the Relevant Subsidiaries), (2) Fullshare Holdings Limited ("Fullshare", Stock Code: 0607.HK), (3) Five Seasons XVI Limited, a wholly-owned subsidiary of Fullshare, (4) Ji Changqun (Chairman and Executive Director of Fullshare), (5) 16 other companies (the "Counterparties") which are counterparties to certain agreements for the sale and purchase of commodities (the "Agreements"), and (6) 10 other individuals who were Fullshare personnel improperly involved in the administration, financial management and contract approval of the Relevant Subsidiaries. The claim is based on the alleged wrongful conduct of the Defendants, which resulted in the loss of RMB 6.64 billion (the "Relevant Amounts") of the Relevant Subsidiaries. The legal action reflects the Group's commitment to safeguarding the interests of all shareholders, particularly minority shareholders, in light of potential unlawful activities by the Defendants. "Our Board takes this matter very seriously and has taken decisive steps to protect the Group's interests and uphold our obligations to shareholders," said Hu Jichun, Chairman of the Group. "We are duty-bound to rectify any misconduct that undermines corporate governance and shareholder value. We will pursue all necessary legal remedies to ensure accountability and transparency." Key Considerations As of 31 October 2024, receivables and pre-payments due to the Relevant Subsidiaries under the Agreements totaled approximately RMB 6.64 billion. Demand letters were sent to the Counterparties, which were not properly answered. Amongst the limited replies received, the Counterparties claimed that amounts owed were transferred to third parties following instructions from the Relevant Subsidiaries. The Relevant Subsidiaries have reported to the authorities in the PRC, which have, after vetting, initiated formal criminal investigation into suspected embezzlement and misappropriation of the Relevant Subsidiaries' funds and assets by individual(s) in position(s) of authority. Whilst the details surrounding the Relevant Amounts are still under independent investigation and formal criminal investigation, the Company and the Relevant Subsidiaries have been advised of the following: Meeting minutes, commercial records and communication records of the Relevant Subsidiaries indicate that Fullshare personnel, reporting to Ji Changqun, were improperly involved in the decision-making and management of the trading business of the Relevant Subsidiaries for which the Agreements were signed. According to Nanjing Drive's employees interviewed and financial records reviewed, Fullshare's financial personnel and accountants directly handled various payments between the Relevant Subsidiaries and the Counterparties; Financial records of the Relevant Subsidiaries were recovered from Fullshare's premises at Fengsheng Science Park in December 2024, after repeated demands from the current management of Nanjing Drive, demonstrating the potential control of Fullshare over the financials of the Relevant Subsidiaries; There existed a parallel contract approval procedure of the Relevant Subsidiaries where former legal counsel and other former or current executives of Fullshare were substantively involved; Crucially, public company search records show that certain Counterparties, which received the funds of the Relevant Subsidiaries, could be related to Ji Changqun or Fullshare. Nanjing Drive's current and former employees also indicated that the Counterparties are indirectly connected to Fullshare; and Fang Jian was responsible for the operation and management of the Relevant Subsidiaries when the Agreements were executed. Fang Jian also oversaw the management and approval of the company seal for these subsidiaries at the relevant time. In view of the above, the Relevant Subsidiaries have started to pursue the Defendants named in the legal action for the Relevant Amounts. Further defendants may be added to the proceedings as the investigations progress. Actions taken Upon discovering the Agreements, the Board promptly formed an Independent Investigation Committee to oversee an investigation into the matter. An independent investigative consultant was engaged and is expected to deliver a preliminary report of its findings by mid-May. The Board and the Group have reiterated their unwavering commitment to strengthening the Group's internal controls and have to date implemented interim remedial measures, including: Enhanced oversight and control of commodities trading operations Streamlined cash flow controls and inventory management Optimized senior management roles to ensure robust corporate governance Heightened management oversight and compliance - END - About the Group China High Speed Transmission Equipment Group Co., Ltd. (Stock Code: 0658.HK, together with its subsidiaries, the "Group") operates as a professional corporation principally engaged in the manufacture of high-speed and heavy-duty gears. The Group was established in 1969 and listed in Hong Kong in 2007. The Group's "NGC" brand is famous in the PRC market and well established in the international market. Its business is focused on wind energy gearboxes, rail vehicle gearboxes, industrial gearboxes, robot reducers and new energy vehicle gearboxes. For more information, please visit www.chste.com.
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Mining/Metals
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