As one of the top 500 enterprises in Chinese machinery industry, Shenyang Heavy Machinery Co., Ltd. (as "SHMC" hereinafter), formerly known as Shenyang Heavy Machinery Factory, which was founded in 1937, is the first heavy machinery manufacturer invested in and expanded by the State government ever since the foundation of New China and is extolled as the "Cradle" of the China heavy machinery industry. Currently, SHMC has 5374 full-time employees, RMB 5,150 million total assets, 573,000m2 land area of factory, and 14,000m2 construction area of industrial buildings. SHMC has 2 wholly-owned subsidiaries, 1 subsidiary by holdings (a company controlled by converting the debt owned by SHMG to its stocks), 11 joint-venture companies by shares or holdings, 3 state solo-owned and state owned companies by holdings entrusted to be managed by SHMC. In 2005 the technology center of SHMG was authorized