Suzhou Xinneng Precision Machinery Co., Ltd. was established in 2001. It is a national high-tech enterprise and a domestic enterprise specializing in honing process technology research, honing equipment and tool research and development and production. The company covers an area of ​​about 30,000 square meters and has more than 100 professionals in various fields such as mechanical design and manufacturing, electrical automation control, abrasives and tools, and material science. In 2011, the research and development platform Xinneng International (Germany) Co., Ltd. was established in Stuttgart, Germany. In 2013, it acquired 51% of the shares of Degen, a world-class high-end honing machine manufacturer in Germany, and is committed to the research and development and industrialization of high-speed and high-precision honing machines.

The company produces the Lugong brand series of honing machines and honing tools, which currently have three series of nearly 20 products, namely "HM2000 series horizontal honing machines, MB series high-precision CNC vertical honing machines, and HMT series powerful CNC deep hole honing machines". Among them, the MB4250 honing machine and the HMT4500B deep hole honing machine are recognized as the first domestic products. The industrialization of the MB4250 honing machine won the third prize of China's mechanical industry scientific and technological progress in 2010.