The transformation and upgrading path of LYC

On the afternoon of May 19, General Secretary Xi Jinping visited LYC in Luoyang, Henan Province, to learn about the local situation of accelerating the development of advanced manufacturing.

LYC is a comprehensive bearing manufacturing company. Its products are widely used in aerospace, engineering machinery, wind power generation, rail transportation, port machinery and ships, etc., covering 9 types and more than 30,000 types.

Bearings are the core basic components of mechanical equipment and play an important role in the national economy and national defense construction. The industry often describes that "the machines that can turn in the world are generally inseparable from bearings." As a traditional manufacturing company mainly engaged in bearings, Luoyang Bearing Group has continuously increased its scientific and technological research and development efforts in recent years, and has shown new style in transformation and upgrading.

In recent years, relying on the only national key laboratory of aviation precision bearings in the bearing industry, Luoyang Bearing Group has built a leading domestic bearing test platform for aerospace, wind power generation, high-speed railways, new energy vehicles, etc., laying a solid foundation for the development of high-end bearings.

At present, the output value of Luoyang Bearing Group's high-end bearings accounts for 70% of the company's total output value. During the "14th Five-Year Plan" period, 13 scientific and technological achievements have reached international standards, and the domestic market share of wind power main bearings has reached more than 40%. The developed shield machine series main bearings have broken the situation where my country's shield machine main bearings are all dependent on imports.

Walking into the wind power gearbox bearing smart factory of Luoyang Bearing Group, the application of technologies such as "5G+Industrial Internet of Things" has realized the full digitalization of products from design, material selection, production to delivery. Luoyang Bearing Group has continuously invested more than 1 billion yuan to transform and upgrade traditional production lines, and independently incubated and developed a number of bearing application software with independent intellectual property rights... With digital intelligence empowerment, the core competitiveness of the enterprise has been further enhanced.

In 2024, Luoyang Bearing Group achieved revenue of 4.699 billion yuan and net profit of 226 million yuan. Looking to the future, with the goal of "turning China and driving the world", Luoyang Bearing Group is constantly expanding its high-end bearing industry cluster, striving to achieve revenue of 15 billion yuan in 2030, and contributing more to the acceleration of building a manufacturing power.