Wu Hao Vice-general Manager of Zhonghang Heavy Machinery under Internal Investigation

Zhonghang Heavy Machinery announced on June 3 that its vice-general manager was officially under internal investigation by superior disciplinary inspection department.

Zhonghang Heavy Machinery is affiliated to Aviation Industry Corporation of China and formerly named Guizhou Liyuan Hydraulic Pressure Co.， Ltd. In 1996， Guizhou Liyuan Hydraulic Pressure became the first aviation manufacturer of China and went public in the Shanghai Stock Exchanges. It is one of the Chinese high-end equipment manufacturers with core competitiveness.

Informant says that Aviation Industry Corporation of China is now at the helm of young and mid-aged leaders born in 1960s. They have become the backbone force of the company with their professional expertise， first hand working experience and good insight for capital operation. Wu Hao is one of them. He was supposed to hold the post of deputy-general manager of Zhonghang Heavy Machinery till February 1， 2016.

According to the informant， Wu Hao was in charge of many projects of Aviation Industry Corporation. It was possible that he exploited these opportunities and thusly got sacked. More important is that Wu Hao may just be the tip of the Zhonghang Heavy Machinery iceberg. There are signs that the company is under increasing debt pressure.