Henan Machinery Investment Group Co., Ltd., approved in 2015 by People's Government of Henan Province, is a state enterprise solely owned SASAC (State-owned Assets Supervision and Administration Commission) of Henan Province Government, financially contributed with its corresponding net assets by assessed value of 32.14% state share of Zhengzhou Coal Mining Machinery (Group) Co., Ltd., 100% state share of Luoyang LYC Bearing Co., Ltd., 60.87% state share of Luoyang Bearing Shareholding Co., Ltd. The registered capital of the group is 5.5 billion RMB, currently it is mainly involved in the coal machine and bearing manufacture two major sectors.
Scope of group business: investment and asset management; mechanical equipment and relevant R&D; socioeconomic consultation; mechanical equipment and parts sales; mechanical equipment leasing and technical service.
To set up Henan Machinery Investment Group Co., Ltd. is a strategic move of Henan provincial Party committee and provincial government to implement the spirit of the third plenary session of the 18th Central Committee and deepen the reform of state-owned enterprises, it is an important pilot platform for Henan Province to optimize the state assets layout structure, to develop the mixed ownership economy and consummate modern enterprise system, and convert the state assets supervision and control mode, which will play a vital role in the process to vitalize the state-owned enterprises and enhance their competitive power and develop their leading power.
According to the requirements of Henan Provincial Party Committee and provincial government, Henan Machinery Investment Group Co., Ltd. will carry out its investment, financing and operational activities around the mechanical equipment and the relevant key industries, guided by marketization, specialization and internationalization and based on the state industrial policy and industry reorganization directions of Henan Province, which is to serve the economic strategy of Henan Party Committee and provincial government. The group will play a principal channel role in optimizing the state assets layout, and become the main shareholder of state stock right and the carrier of value management to vitalize the stock asset, to nurture investment centers for emerging industry and serve as the bridge for production and financing.