In China's mechanical parts processing industry, Shenyang Machine Tool used to be a god-like existence. It was not only the first precision machining company listed on the A-share market, but also a giant that China took in the global market. Shenyang Machine Tool has a long history. With the growth of the Republic, many precision parts and components are well-known at home and abroad.

In the last golden decade of the mechanical parts processing industry, the performance of Shenyang Machine Tool kept breaking new records, with the peak appearing in 2011. The sales volume that year was as high as 16 billion yuan, not to mention domestic ones, but also the undisputed number one in the international arena. Many mechanical parts processing plants can only look up when they mention Shenyang machine tools.

With the downward trend of the mechanical parts processing industry, these giants are unable to easily realize the transformation, and are unable to extricate themselves from the quagmire of performance. As of the first quarter of this year, Shenyang Machine Tool has a total debt of 18.936 billion yuan, while its total assets are only 18.589 billion yuan. It is already in a situation of insolvency. Once high-spirited, now facing bankruptcy, colleagues in precision machining can't help but lament that this industry is really getting harder and harder.