Shanghai Xinghe Raises Several Hundred Million Yuan Led by Wuliangye Fund

High-end machine tool maker Shanghai Xinghe has completed a financing round worth several hundred million yuan, led by Wuliangye Fund with participation from listed company Megmeet, according to 36Kr. Shenlan Capital served as the long-term exclusive financial adviser. The proceeds will be used to increase R&D investment in products including high-end gear grinding machines, grinders and milling machines, and to support commercialization of new products and overseas markets. Founded in 2009, the company said it has built three production bases in Baoshan (Shanghai) and in Tongzhou Bay and Haimen (Nantong), with total area exceeding 30,000 square meters and about 60,000 square meters of capacity under construction. Founder Jiang Neng said this is the companys first external fundraising, and he forecast 2026 sales growth of more than 30%.