On May 19th, Luoyang Bearing Group Co., Ltd. (referred to as Luozhou Shares) passed the listing review meeting of the Shenzhen Stock Exchange's ChiNext board. The IPO sponsor is China Securities Co., Ltd., with plans to raise 18 billion yuan. According to the prospectus, the company primarily engages in the research and development, production, and sales of bearings and related components, and is one of the largest comprehensive bearing manufacturing enterprises in China's bearing industry. With years of deep involvement in the bearing sector, the company demonstrates outstanding technological innovation capabilities. It possesses the only national key laboratory in the bearing industry and holds a leading domestic position in the research, development, and strategic layout of high-end bearings. The company's specialized bearing products for major equipment, high-end equipment, and new energy vehicles serve as critical foundational components for national strategic emerging industries. These products play a significant strategic role in enhancing China's equipment manufacturing capabilities and facilitating the optimization and upgrading of the manufacturing sector. The company's predecessor, Luoyang Bearing Factory, was established in 1954 as one of 156 key construction projects during China's First Five-Year Plan. Leveraging its strong R&D capabilities and technological innovation, the company has broken foreign monopolies and achieved domestic substitution in various high-end bearing fields, including major equipment and high-end machinery. Multiple scientific and technological achievements have been certified by the China Bearing Industry Association as reaching internationally leading or advanced levels. Aligning its product development with national strategic needs, the company has undertaken numerous national scientific and technological research tasks. It was among the first domestic enterprises to conduct research on high-speed EMU bearings (or high-speed rail bearings) and has undertaken the development and supply tasks for the main shaft bearings and transmission system accessory bearings of the C919 and C929 domestic passenger aircraft engines, contributing to the nation's efforts to strengthen emerging industries and develop new quality productive forces. The company offers over 30,000 product series, with product size ranges from an inner diameter of 6mm to an outer diameter of 15 meters. Its products are widely used in strategic emerging industries such as major equipment, high-end equipment, and new energy vehicles. According to data from the China Bearing Industry Association, the company's bearing products ranked 4th in terms of operating revenue within the domestic bearing industry for both the 2023 and 2024 fiscal years. The company's product portfolio focuses on specialized bearings, with a relatively high proportion dedicated to major equipment bearings, high-end equipment bearings, and new energy vehicle bearings. According to certification documents issued by the China Bearing Industry Association, in 2024, the company ranked first in the industry for wind power main shaft bearings, second for wind power yaw and pitch bearings, and within the top three for wind power gearbox bearings within the major equipment bearing sector. In the high-end equipment bearing sector, its rail transit bearings and aerospace bearings ranked within the top three in the industry. In the automotive bearing sector, its new energy vehicle wheel hub bearings ranked within the top three in the industry. Financially, for the 2023, 2024, and 2025 fiscal years, the company achieved operating revenues of approximately 4.441 billion yuan, 4.675 billion yuan, and 6.034 billion yuan, respectively. During the same periods, the company's net profits were approximately 236 million yuan, 247 million yuan, and 544 million yuan, respectively.
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