Shanghai Prime Machinery Company Limited (hereinafter referred to as "PMC") is a large-scale enterprise specialized in machinery parts and components manufacturing and services under Shanghai Electric (Group) Corporation, the flagship equipment manufacturer of China. On April 2006, upon established by substantial shareholders, such as Shanghai Electric (Group) Corporation which owns 47.2% equity interest, PMC successfully listed on the main board of the Hong Kong Stock Exchange and becomes a H share international listed corporation (stock code: 2345.HK).
PMC is an integrated service provider of machinery parts and components, covers 5 business as Automotive Fastener, Industrial Fastener, Turbine Blade, Bearing, and Cutting Tool engaged in the design, manufacture and sale.
PMC commits to develop advanced manufacturing technology and production services for machinery parts and components and it shows positive growth momentum since its listing. Currently, the turbine blade business is one of the largest specialized manufacturer in the world; the bearing business is one of the bearing and related repairing and maintenance service suppliers designated by the State, the production base of precision miniature bearings used in aerospace and aviation and the automobile bearing supplier; the cutting tool business is one of the leading cutting tool manufacturer in the PRC, specializing in manufacturing large modern metal cutting tools; the industrial fastener business is one of the biggest fastener export companies in the PRC, the automotive fastener is the global leader with 125 years¡¯ history.
Since its listing, PMC established management models based on the idea of group operation with the company itself as investment centre and subsidiaries as profit centre. For managing its subsidiaries, the company implements strategic control, financial control and internal audit control. With the key staff management and performance assessment, it secures a complete and effective management system. It also initially sets up a management information system to support the management mode.
Based on the solid foundation in manufacturing advanced machinery parts and components and the core businesses, PMC adheres to its development direction towards modern production industries such as trading and logistics, and establishes a new information-based supply chain management service platform. Building on the interactive of the business operations and raising capital, it sets to provide quality and efficient machinery parts and components for the domestic and international manufacturers and strives to become an integrated service provider of machinery parts and components in the PRC.