Luozhou Co., Ltd.'s IPO on the Growth Enterprise Market has been approved during the listing committee meeting, making it one of the largest comprehensive bearing manufacturing companies in China's bearing industry.

On May 19, Luoyang Bearing Group Co., Ltd. (referred to as Luozhou shares) passed the listing committee meeting of the ChiNext Board of the Shenzhen Stock Exchange. The sponsor of the IPO is China Securities Co., Ltd., with plans to raise 1.8 billion yuan. According to the prospectus, the company's main business is the research, development, production, and sales of bearings and related components, making it one of the largest comprehensive bearing manufacturing enterprises in China. The company has been deeply involved in the bearing industry for many years, with outstanding technological innovation capabilities, and has the only national key laboratory in the bearing industry. In the field of high-end bearings, the company's research and layout are leading domestically. The company's major equipment, high-end equipment, new energy vehicles, and other special bearings are key basic components of China's strategic emerging industries, with important strategic significance for enhancing China's equipment manufacturing capabilities and optimizing and upgrading manufacturing industries. The company, formerly known as Luoyang Bearing Factory founded in 1954, was one of the 156 key construction projects during China's "First Five-Year Plan". Leveraging its outstanding research and development capabilities and technological innovation, the company has broken foreign monopolies in several high-end bearing fields such as major equipment and high-end equipment, achieving localization. Many of the company's technological achievements have been recognized by the China Bearing Industry Association as being at the international leading or advanced level. The company's product development focuses on national strategic needs, undertaking multiple national scientific research tasks, and being one of the first domestic enterprises to conduct research on high-speed EMU bearings (or high-speed railway bearings). The company is responsible for the development and supporting of the main aircraft engine spindle bearings and transmission system accessory bearings for the C919 and C929 domestically-produced aircraft, contributing to the growth of emerging industries and the development of new quality productive forces for the country. The company's product series includes over 30,000 types of bearings, ranging in size from 6mm inner diameter to 15m outer diameter, widely used in major equipment, high-end equipment, and strategic emerging industries such as new energy vehicles. According to data from the China Bearing Industry Association, the company's bearing products ranked fourth in terms of operating income in the domestic bearing industry for the fiscal years 2023 to 2024. The company's products mainly consist of special bearings, with a relatively high proportion of bearings for major equipment, high-end equipment, and new energy vehicles. According to certification documents issued by the China Bearing Industry Association, in 2024, the company's bearings for major equipment were ranked first in the industry for wind turbine main shaft bearings, wind turbine pitch bearings, and wind turbine gearbox bearings; bearings for high-end equipment were ranked in the top three for rail transit bearings and aerospace bearings; and bearings for new energy vehicle axle bearings were ranked in the top three in the industry. Financially, in the fiscal years 2023, 2024, and 2025, the company achieved operating income of approximately 4.441 billion yuan, 4.675 billion yuan, and 6.034 billion yuan, respectively; during the same period, the company's net profit was approximately 236 million yuan, 247 million yuan, and 544 million yuan, respectively.