Luoyang Bearing Corp. (301699.SZ) plans to invest in the construction of a project for the development of high-reliability civil aviation bearings and production capacity enhancement, among others.

Luoyang Bearing Corp. (301699.SZ) announced that the company plans to invest in the construction of a project for the development of high-reliability civil aviation bearings and production capacity enhancement, and a project for the development and industrialization of bearings for high-speed rail, standard metro, and standard intercity trains, with investment amounts of RMB 389 million and RMB 381 million, respectively. Both projects under this investment align with the direction of national strategic emerging industry development and the company's long-term development strategy. The implementation of the projects will help the company seize the historic opportunity of import substitution for high-end equipment, break through the technical barriers of high-end bearings in the aviation and rail transit fields, and enhance the company's position and competitiveness in the global bearing industry chain. Upon completion of the projects, they will help the company optimize its product structure, cultivate new profit growth points, and enhance the company's overall strength and sustainable profitability, which is in the interests of the company and all shareholders.