LYC On Track for A-Share Listing After Completing IPO Coaching, Reports ¥47 Billion in Revenue

On November 8, 2025, the domestic bearing industry witnessed a significant breakthrough – LYC successfully completed its IPO preparation and officially entered the acceptance phase. This means that this 70-year-old state-owned manufacturing enterprise is only one step away from entering the capital market.

According to the guidance institution, CITIC Securities, after systematic and standardized operational guidance, LYC has met the basic requirements for listed companies in terms of corporate governance, financial compliance, and internal control systems, and possesses independent and sustainable operating capabilities.

From the First Five-Year Plan Project to a Benchmark for High-End Manufacturing

As one of the 156 key projects of the First Five-Year Plan of the People's Republic of China, LYC has always been at the forefront of the country's self-sufficiency in major equipment since its establishment in 1954. Its products cover nine categories and over 30,000 models, ranging from miniature bearings with an inner diameter of only 6 millimeters to giant slewing bearings with an outer diameter of 15 meters. It has repeatedly broken foreign technological monopolies and achieved domestic substitution in key areas such as aerospace, high-speed rail, and wind power equipment.

The company also holds numerous industry records: largest size, highest precision, most complex structure, and most parts, making it a veritable "technological high ground" for high-end bearings in China.

Impressive Financial Performance and a Strong Shareholder Base

Data shows that in 2024, LYC achieved operating revenue of 4.699 billion yuan and net profit of 226 million yuan, demonstrating robust profitability and market competitiveness.

In terms of shareholding structure, Luoyang Guohong Investment Holding Group is the largest shareholder with 38.003% of the shares; Zhengzhou Coal Mining Machinery Group's emerging industry fund holds 15%, ranking second; and the well-known bearing listed company xcc.zxz (603667) also becomes the fourth largest shareholder with 8.5% of the shares, highlighting the high recognition from capital in the industry chain.

Striving for an IPO, Empowering a New Journey of Domestic Substitution

This IPO is not only a key step in LYC's capitalization operation, but will also inject strong momentum into its high-end bearing R&D, intelligent manufacturing upgrades, and international layout. With the increasingly urgent need for independent control of core basic components in my country's high-end equipment, LYC is expected to leverage the capital market to accelerate its growth into an important force in the global bearing industry.