Qingdao Tianneng Heavy Industries (300569.SZ) has decided to shut down the Tianneng factory in Dalian.

Announcement of Qingdao Tianneng Heavy Industries(300569.SZ): Dalian Qingdao Tianneng Heavy Industries Co., Ltd. (referred to as "Dalian Tianneng") is a wholly-owned subsidiary of the company. The Dalian Tianneng factory is located on leased premises. Due to the decrease in projects surrounding Dalian Tianneng in recent years, its profitability has weakened year by year. Additionally, the company's wholly-owned subsidiary, Dongying Qingdao Tianneng Heavy Industries Co., Ltd. (referred to as "Dongying Tianneng"), has started production at its base, which can cover its business market range. In order to optimize the company's production capacity layout, enhance the efficiency of company assets, and in line with the company's development strategy requirements, it has been decided to close down the Dalian Tianneng factory.