Sinomach Precision Industry to End Equity Relationship With Associate After Revamp

Sinomach Precision Industry will end its equity relationship with associate company Zhongzhe High-speed Rail Bearing after the latter completed its shareholder registration change, according to a Shenzhen Stock Exchange disclosure on Wednesday.

The change is part of Zhongzhe High-speed's reorganization plan that was approved by a court in 2024, the Chinese conglomerate said.

The company's shares rose more than 2% in recent trade.

Chinese conglomerate Sinomach Precision Industry received approval from the Shenzhen Stock Exchange to issue shares to certain investors, according to a bourse filing on Saturday.

The company's shares soared 10% in recent trade.

Chinese conglomerate Sinomach Precision Industry received approval from the Shenzhen Stock Exchange to issue shares to certain investors, according to a bourse filing on Saturday.

The company's shares soared 10% in recent trade.

Sinomach Precision Industry plans to add its stake in a subsidiary producing diamond composite sheets and cubic boron nitride composite sheets for 40.3 million yuan, according to a Shenzhen Stock Exchange disclosure on Friday.

The Chinese manufacturer of bearings, electric spindles and measuring instruments will acquire 19.4% of Zhengzhou Xinya Composite Superhard Materials from Gongqingcheng Xinhe Investment Partnership (Limited Partnership).

After the transaction is completed, Sinomach will own 69.5% of Xinya Composite Superhard Materials, the disclosure said.