Qingdao Xingchen Machine Tool Co., Ltd. was founded in 1972 as a state-owned collective enterprise. In 1985, the company launched research of thread rolling machine and in May 1987 its first thread rolling machine was put into market. Since 1993, the company has obtained the state patent certificates for utility model and industrial design. In 1994, its thread rolling machine was given a gold medal at the 8th National Exhibition of Inventions and recognized as state level new product and placed on the list of technological research achievements of The Spark Plan launched by the State Scientific and Technological Commission (SSTC) in 1995. The company was reorganized as a shareholding company in 1997 and now the company is one of China’s key companies for thread rolling machine manufacture.