Luozhou Holdings' GEM IPO application has been accepted and intends to raise 1.8 billion yuan.

On November 28th, Luoyang Bearing Group Co., Ltd. (referred to as Luobo Shares) has had its IPO on the ChiNext Board of the Shenzhen Stock Exchange accepted. China Securities Co., Ltd. is the sponsoring institution, with plans to raise 1.8 billion yuan. The prospectus shows that Luobo Shares engages in the research and 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 the only national key laboratory in the bearing industry. It is at the forefront of research and development and layout in the field of high-end bearings in China. With its outstanding research and development capabilities and technological innovation, Luobo Shares has broken foreign monopolies in various high-end bearing fields such as major equipment and advanced equipment to achieve localization. Several technological achievements have been appraised by the China Bearing Industry Association to have reached international leading or advanced levels. The company's product research and development focus on national strategic needs, undertaking multiple national scientific research tasks. It was one of the first domestic companies to carry out research on high-speed EMU bearings (or high-speed rail bearings). It undertook the development and supporting tasks of C919 and C929 domestic airliner engine main shaft bearings and transmission system accessory bearings, contributing to the growth of new emerging industries and the development of new productive forces. The company's product series includes over 30,000 types, ranging in size from an inner diameter of 6mm to an outer diameter of 15m, widely used in major equipment, advanced equipment, and strategic emerging industries such as new energy vehicles. After deducting issuance costs, the funds raised from this public offering of new shares will be invested in the following projects in order of urgency. Financially, in the fiscal years 2022, 2023, 2024, and January to June 2025, Luobo Shares achieved operating revenues of approximately 3.342 billion yuan, 4.441 billion yuan, 4.675 billion yuan, and 2.821 billion yuan respectively. During the same periods, net profits were -55.4352 million yuan, 236 million yuan, 247 million yuan, and 263 million yuan respectively.