Luoyang Bearing's ChiNext IPO registration submitted, specializing in research and development, production, and sales of bearings and related parts.

On May 20, Luoyang Bearing Group Co., Ltd. (referred to as Luoyang Bearing) applied to the Shenzhen Stock Exchange ChiNext for an IPO review status change to "registration submitted". China Securities Co., Ltd. is the sponsor for its listing, with plans to raise 1.8 billion yuan. According to the prospectus, Luoyang Bearing mainly engages in the research, development, production, and sales of bearings and related components, and is one of the largest comprehensive bearing manufacturing enterprises in China. According to data from the China Bearing Industry Association, in the fiscal years 2023 to 2024, the company's bearing products ranked fourth in terms of operating income in the domestic bearing industry. In the bearing industry, the company owns the only national key laboratory in the bearing industry, and is in a leading position in research and development in the high-end bearing field domestically. The company's key equipment, high-end equipment, and special bearings for new energy vehicles are key basic components of national strategic emerging industries, and are of strategic significance in enhancing China's equipment manufacturing capabilities and optimizing and upgrading the manufacturing industry. The company's product series includes over 30,000 types of products, ranging in size from 6mm internal diameter to 15m external diameter, widely used in major equipment, high-end equipment, and strategic emerging industries such as new energy vehicles. The company's main products are finished bearings, with sales revenue for finished bearings in the reporting period totaling 4.17 billion yuan, 4.379 billion yuan, and 5.719 billion yuan respectively, accounting for 96.43%, 96.69%, and 97.16% of the main business revenue, with a relatively high proportion of special bearings. Specifically, the company's products are mainly special bearings, with a relatively high proportion of bearings for major equipment, high-end equipment, and new energy vehicles. According to the proof issued by the China Bearing Industry Association, in 2024, the company's bearings in the field of major equipment ranked first, second, and top three in the wind turbine main shaft bearing, wind turbine pitch bearing, and wind turbine gearbox bearing industries respectively; in the field of high-end equipment bearings, rail transit bearings and aerospace bearings ranked top three in the industry; in the automotive bearing field, new energy vehicle hub bearings ranked top three in the industry. After deducting issuance expenses from the funds raised from the IPO, the proceeds will be invested in the following projects in order of priority: In terms of finances, the company is expected to achieve operating income of approximately 4.441 billion yuan, 4.675 billion yuan, and 6.034 billion yuan in the fiscal years 2023, 2024, and 2025 respectively; while the net profits are expected to be approximately 236 million yuan, 247 million yuan, and 544 million yuan respectively during the same period.