On May 20th, Luoyang Bearing Group Co., Ltd. (referred to as Luozhou Shares) saw its application for an initial public offering on the Shenzhen Stock Exchange's ChiNext board change status to "registration submitted." China Securities Co., Ltd. is serving as the sponsor for the offering, which aims to raise 1.8 billion yuan.
According to the prospectus, Luozhou Shares primarily engages in the research and development, production, and sales of bearings and related components. It is one of China's largest comprehensive bearing manufacturing enterprises in the bearing industry. The company has been deeply involved in the bearing sector for many years, demonstrating outstanding technological innovation capabilities. It possesses the industry's sole national key laboratory and holds a leading domestic position in the research, development, and strategic layout of high-end bearings.
The company originated from the Luoyang Bearing Factory, established in 1954, which was one of the 156 key construction projects during China's First Five-Year Plan. Leveraging its strong research capabilities and technological innovation, the company has broken foreign monopolies and achieved domestic substitution in various high-end bearing fields, including major equipment and advanced machinery. Multiple scientific and technological achievements have been appraised by the China Bearing Industry Association as reaching internationally leading or advanced levels.
The company's product development emphasizes national strategic needs and involves undertaking 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 engine main shaft bearings and transmission system accessory bearings for domestic passenger aircraft models C919 and C929.
The company offers over 30,000 product varieties, 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 machinery, and new energy vehicles.
According to data from the China Bearing Industry Association, the company's bearing products ranked fourth in domestic industry operating revenue for both 2023 and 2024. The company's product portfolio primarily consists of specialized bearings, with a relatively high proportion dedicated to major equipment bearings, high-end equipment bearings, and new energy vehicle bearings.
As per 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 in the major equipment bearing sector. In the high-end equipment bearing field, its rail transit bearings and aerospace bearings ranked within the industry's top three. For automotive bearings, its new energy vehicle wheel hub bearings also ranked within the industry's top three.
Financially, for the years 2023, 2024, and 2025, 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, net profits were approximately 236 million yuan, 247 million yuan, and 544 million yuan, respectively.
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