Regulatory Approval Granted for Luoyang Bearing Group's Initial Public Offering on the ChiNext Board

Stock News06-18 18:44

The China Securities Regulatory Commission (CSRC) has approved the registration for the initial public offering (IPO) of Luoyang Bearing Group Co., Ltd.

The approval was announced on June 18th. The company plans to list on the Shenzhen Stock Exchange's ChiNext board, with China Securities Co., Ltd. acting as its sponsor. The IPO aims to raise approximately 1.8 billion yuan.

According to its prospectus, Luoyang Bearing Group primarily engages in the research and development, production, and sales of bearings and related components. It is recognized as one of China's largest comprehensive bearing manufacturing enterprises within the bearing industry.

The firm has extensive experience in the bearing sector and demonstrates strong technological innovation capabilities. It operates the industry's sole national key laboratory and holds a leading domestic position in the research, development, and strategic planning of high-end bearings.

The company's product portfolio exceeds 30,000 varieties, with dimensions ranging from an inner diameter of 6mm to an outer diameter of 15 meters. These products are widely used in major equipment, high-end machinery, and strategic emerging industries such as new energy vehicles.

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