In September this year, the board of directors of Zhejiang Rifa Precision Machinery Co., Ltd. unanimously agreed that its wholly-owned subsidiary Zhejiang Rifa Precision Machine Tool Co., Ltd. will use its own or self-raised funds to establish a wholly-owned subsidiary. The new company will settle in Yinchuan Bearing Intelligent Manufacturing. Small town. The new company's business scope includes R&D, production and sales of CNC machine tools, mechanical equipment and accessories; R&D, production and sales of intelligent equipment and industrial automation equipment; R&D and sales of computer software and hardware; import and export of goods. The new company is still in the preparatory stage, and the basic information is not yet clear.

On September 24, Yinchuan Bearing Intelligent Manufacturing Town was grandly unveiled, and the one-year "Bearing Intelligent Town Phase I" project was officially put into production. The "Bearing Town" has a planned construction area of 1.5 million square meters, and its business modules and operating modes are top-level standard equipment. The new company will be able to "check in with a bag" in the near future.

This overseas investment has been carefully considered by the company's management and is in line with the company's future development needs. The biggest feature of "Bearing Town" is that the factory is intelligent, which can rely on a powerful intelligent platform to seamlessly connect with end customers, and truly realize the linkage between the company and customers in the upstream and downstream of the industrial chain. At the same time, intelligence greatly reduces the production cost of the new company, which can effectively control costs, maximize product benefits, and enhance the company's overall scale, profitability and market competitiveness, which is in line with the overall interests of the company and all shareholders.

Rifa Machine Tool's wholly-owned subsidiary will soon settle in Yinchuan, and the future can be expected, please wait and see!