Luoyang Bearing Group Plans RMB1.8 Billion IPO for New Energy and High-Speed Rail Bearings

On August 18, Luoyang Bearing Group Co. , Ltd. officially published its prospectus and initiated its public offering process. The company plans to issue 124 million shares, representing 17.13% of total share capital after issuance, with proceeds directed to high-end bearing capacity expansion and technological development. The company traces its origins to one of the 156 key projects under China's First Five-Year Plan. After more than 70 years of development, it has become a comprehensive bearing manufacturer with leading domestic production and sales scale and service capabilities. Its "LYC" trademark is a well-known Chinese trademark, and its products are exported to Europe, the Americas, Southeast Asia and other regions.

The prospectus shows that from 2023 to 2025, Luoyang Bearing Group's operating revenue was RMB4.441 billion, RMB4.675 billion and RMB6.034 billion, respectively, while net profit attributable to parent was RMB231 million, RMB251 million and RMB529 million. In 2025, net profit attributable to parent more than doubled year-on-year. In the first half of 2026, the company achieved operating revenue of RMB3.061 billion, up 8.52% year-on-year; net profit attributable to parent excluding non-recurring items was RMB268 million, up 6.25% year-on-year.

Luoyang Bearing Group is one of the earliest domestic enterprises to conduct research and development of high-speed rail bearings. Currently, traction motor bearings and gearbox bearings for 250 km/h and 350 km/h trains have completed vehicle-mounted assessments and are ready for batch application. Axle box bearings for the same train classes have completed development and are undergoing operational assessments. Beyond rail transit, the company's products cover wind power bearings, aerospace bearings, new energy vehicle hub bearings and other segments. Customers include China State Railway Group, CRRC, China State Shipbuilding, BYD, Goldwind, Envision Energy, Windey, Dongfang Electric, Shanghai Electric and Sany Group.

The total investment for the IPO fundraising projects is RMB1.8 billion. Among them, the new energy bearing intelligent production construction project involves RMB789 million, focusing on capacity for new energy vehicle hub bearing units, ball screws and other precision components. The high-speed train bogie bearing development and application project plans to invest RMB280 million for the industrialization of high-speed rail bearing technology. The remaining funds will be allocated to projects for upgrading precision bearings supporting major technical equipment and industrializing high-precision small turntable bearings.