CITIC Heavy Industries recognized as excellent smart factory, appeals lawsuit ruling

CITIC Heavy Industries has been recognized as an "Excellent Smart Factory" by the Ministry of Industry and Information Technology (MIIT) for 2025. Its "Data-Driven High-End Mining Equipment Smart Factory" project was affirmed by six national departments, including the National Development and Reform Commission and the Ministry of Finance, underscoring the company's progress in intelligent manufacturing and digital transformation. This achievement validates CITIC Heavy Industries' efforts in building a "6+1+N" digital application system and 23 digital application scenarios across its research, manufacturing, and operational processes.

In parallel, CITIC Heavy Industries provided an update on a lawsuit regarding an external guarantee involving its subsidiary, Luoyang Mining Machinery Engineering Co., Ltd. The initial ruling favored the plaintiff, requiring Luoyang Mining Machinery to pay yuan 666,508.69. The company has appealed the decision, and a second instance hearing is scheduled for January 24, 2025.

The external guarantee lawsuit, which involves a principal amount of yuan 124,022,007.12 and related interest and fees, concerns a guarantee for a loan taken by Luoyang Mining Machinery. CITIC Heavy Industries stated that the initial ruling will not significantly impact its current operating performance, and the company will actively pursue its legal rights.