History

• 1990

  In 1989, the factory preparatory group was established and rented an old building of NanMenQiao Haiyan Garment Factory for office. In March, 1990, the joint venture "Guiyang Tools Factory-Haiyan Branch Factory " was officially established in that old factory building. Three years later, the house number was changed to No. 239, Xinqiao North Rd. The main products are roughing end milling cutters and rectangular spline ring/plug gauges. 

  
  

• 1992

  From 1990 to 1992, due to the negative impactof the international environment, the exportorders of roughing end milling cutters declined significantly, and the factory faced a close down at any time. The leaders of the factory expanded the market day and night. Withtenacious efforts, the factory passed the crisisin the early stage of entrepreneurship.

• 1995

  From 1993 to 1995, the operation gradually fell into place. In order to expand, the factory began to produce broaches and hobs for processing agricultural machinery gears. At that time , the largest customer was . "Changzhou Feitian gear factory".

• 1997
  From 1996 to 1997, the factorywas reformed to "Haiyan guigongMeasuring and Cutting Tool Co.,Ltd." And successively established"Jiaxing Hengfeng Tools Co., Ltd."&"Jiaxing EST Tools Co., Ltd.". Thetrade name "Hengfeng" and thetrade mark "EST" were officiallyused afterwards.
• 1999

  In 1998, due to the Asian financial crisis, export orders began to decline significantly. EST decided to enter the field of China's motor car cutting tools. And EST began the modernization in 1 999. At that time, EST was extremely low on funds and could not afford to buy imported equipment, so EST mortgaged all assets to the bank, obtained a loan of 850000 Deutsche Mark, and bought the first German REFORM CNC spline grinder and started manufacturing car broaches.

  
  

• 2004

  In 2003, the new office building and canteen on Xinqiao North Rd. were completed. In 2004，the information management-ERP system was added .

  
  

• 2006

  From 2004 to 2006, a number of new products, such as non-standard CNC drilling & milling cutters, steam turbine rotor slot milling cutters, turbine disk slotting broaches, and involute spline gauges came out one after another, which brought EST’s product transformation & upgrade to a new level.

• 2007
  In 2007, EST delegation visited thewell-known machine tool companies inGermany, imported German advancedtechnologies, and put the spline formingracks into production that year. In 2008,EST began to provide customers witha complete set of solutions for splineprocessing and measurement.
• 2008

  In 2008, EST successfully manufactured the firstextra large broach with a diameter of 230 mm anda length of 3 meters for Zhuzhou Gear Factoryin China. This broach caused a sensation in thetooling industry and received a lot of praise.

• 2009

  In 2009, EST purchased plants in Yuxin Town, Jiaxing，and relocated the core drills & hole saws workshop to Yuxin. Later, all workshops were moved back to Haiyan in 2012.

• 2010

  In 2010, EST took great risks and successfully manufactured a slotting broach for the gas turbine disk of Harbin Turbine Co., LTD. This broach won the title of "the first set in key areas of China" in 2013.

• 2011
  In 2011, EST launched the shareholding reform andwas renamed "EST Tools Co., Ltd." In 2012, ESTstarted an investment project for the construction ofa new plant on Hengfeng Rd, which was completedat the end of 2014.
• 2012

  In 2012，the national standard for spline measuring tools, which was revised and formulated by EST, was officially promulgated.

• 2014

  On September 10, 2014, Mr. Xia Baolong, then Secretary of the Zhejiang Provincial Party Committee, accompanied by Mr. Lu Jun, Secretary of the Municipal Party Committee, and Mrs. Shen Xiaohong, Secretary of the Haiyan County Party Committee, visited the company. EST's  managerial team reported to the secretary about the helical broach project designed for planetary internal ring gears that the company had developed over the past 8 years. The broaches have been mass-produced, which allows EST to become the only manufacturer in China and the fifth in the world capable of producing this broach. The secretary encouraged EST to keep on with its innovativeness and make greater contributions to the country.

• 2015
  On July 1st, 2015, EST was successfully listedon the Shenzhen Stock Exchange with thestock code of 300488, and the IPO price of20.11 yuan, and raised capital of 213 millionyuan.
• 2016

  In May 2016, EST TOOL S America, Inc. was officially established. From 2017 to 2018, we rented a plant to provide tool sharpening services for customers in North America, and in 2019，we purchased a 24000 square foot faillity and relocated.

• 2017

  In 2017，EST completed the wholly-owned merger and acquisition of "Zhejiang Shangyou Tool Co., Ltd.". In 2018, with a total cost of 130 million yuan, the construction of a new plant in the Wenling eastern new area was completed, and a large number of advanced equipment were imported.

• 2018

  In 2018, EST formed a project team with Shanghai Jiaotong University, Shanghai Aircraft Manufacturing Co., Ltd, Shanghai Turbine Plant and other units to carry out the research on "design, manufacturing and application of efficient cutting tools", and the research won the second prize for National S&T Progress Award.

• 2019

  In 2019, the construction of Haixing Rd phase II project was completed, the workshop was relocated in early May, and the administrative staff moved into the new office building on May 21.

• 2020

  2020 is the 30th anniversary of EST. A celebration was held on March 27. In the same year, EST won the Zhejiang provincial government quality award. In January, when the covid-19 broke out, the company actively responded and developed mask cutting tools.

• 2021

  In 2021，the construction of the North plant area & the staff sports ground & the new canteen and the reconstruction of the South plant area of Haixing Rd were completed. In the same year, EST won the title of "national manufacturing Individual champion demonstration enterprise'

• 2022

  On May 25, 2022, the then Secretary Yuan Jiajun of Zhejiang Province visited EST and inspected its products and workshops. Mr. Yuan praised and encouraged EST for the innovation and development it has achieved over the past 30 years.

• 2023

  EST launched a convertible bond fundraising project of 620 million yuan in March 2023, with a plan to add to its production capacity another 1.5 million pieces of precision cutting tools for the high-end, intelligent and low-carbon markets. It obtained the registration approval from the China Securities Regulatory Commission (CSRC) on December 18. The bond, abbreviated as "FengGong ZhuanZhai" (EST Convertible Bond) with a code number of 123239, was issued on January 19, 2024 and listed on the Shenzhen Stock Exchange on February 22.

• 2024

  On July 4, 2024, the then Zhejiang Provincial Party Committee Secretary Mr. Yi Lianhong, accompanied by other provincial and county leaders, visited the company, listened to reports in the exhibition hall and production workshops, and reviewed EST's achievements in technological innovation and talent team building in the field of precision manufacturing, which not only impressed but also won praises from the officials.

  In June 2024, EST established a wholly-owned subsidiary in Austria to further develop its business in the European market.