- Business
- Xinjiang Machinery Research Institute Co., Ltd. (300159.SZ), also known as ST Xinyan, engages principally in the research, design, manufacture, and sale of agricultural and animal husbandry machinery under the Mushen brand, as well as aerospace structural parts; its core products encompass self-propelled corn harvesters (including fruit ear corn harvesters and corn grain harvesters), self-propelled forage (green fodder) harvesters, self-propelled pepper (chili) harvesters, power rotary harrows for tillage and farming, multifunctional orchard farming machines, raisin processing lines (featuring belt hoists, classifiers, bubble cleaners, continuous centrifugal machines, oil mixers, and gravity stoners), tomato processing equipment sets, hop processing lines, cottonseed linter processing lines, seed gravitational segregation machines, and multifunctional drying machines; the company also produces aeronautical aircraft structural parts, space vehicle structural parts, and engine/gas turbine structural parts for military aircraft factories, civil passenger aircraft sub-manufacturing, aero-engine manufacturers, and research institutes, alongside activities in non-ferrous metal smelting, aluminum/steel supply, and technology promotion services. Founded in 1960 and headquartered at No. 661 Ronghe South Road, Urumqi Economic and Technological Development Zone, Urumqi, Xinjiang Uygur Autonomous Region, China, the company primarily serves the domestic Chinese market with a focus on Xinjiang's agricultural, animal husbandry, forestry, and fruit sectors, positioning itself as a national high-tech enterprise and innovation leader in large-scale self-propelled harvesting machinery. In recent developments, ST Xinyan signed a restructuring investment agreement on November 13, 2025, with financial investors including China Foreign Economic and Trade Trust Co., Ltd., Xinjiang Jinzhi Asset Management Co., Ltd., China Cinda Asset Management Co., Ltd. Sichuan Branch, and Tianjin Xinyan Investment Partnership (Limited Partnership) to support pre-restructuring and restructuring activities; it proposed a capital reserve fund conversion to increase share capital at a ratio of 12 shares for every 10 shares based on its existing 1.496 billion share base, resulting in 1.795 billion additional shares as part of its bankruptcy reorganization plan; additionally, Xinjiang Commercial Trade and Logistics Group became the controlling shareholder, while the company granted 3 million restricted stocks at 1.42 yuan per share in November 2024 and reported a projected 2024 net loss of 280-400 million yuan.