RIHONG Precision Machinery (002520.SZ): Its subsidiary, Italian company MCM, has applied for bankruptcy.

Zhongtong Finance and Economics App News, Rifa Precision Machinery (002520.SZ) announced that, due to continuous losses by its wholly-owned subsidiary Machining Centers Manufacturing S.p.A (hereinafter referred to as "Italian MCM Company"), the subsidiary is unable to repay its due debts and is facing a liquidity shortage. In order to safeguard the legitimate rights and interests of the company and its shareholders, the board of directors of the company has agreed to the application for bankruptcy by the Italian MCM Company. At the same time, the Italian MCM Company's management team is authorized to organize and implement specific matters related to bankruptcy within the scope permitted by laws and regulations.