Core Viewpoint - Changsheng Bearing is a leading enterprise in the domestic self-lubricating bearing industry, with strong R&D capabilities and technical advantages, and its products have wide applications across multiple fields [1] Group 1: Business Performance - In Q3 2025, Changsheng Bearing reported revenue of 935 million yuan, ranking 40th among 82 companies in the industry, while the industry leader, China International Marine Containers, achieved revenue of 117.06 billion yuan [2] - The net profit for the same period was 196 million yuan, placing the company 12th in the industry, with the top performer, China International Marine Containers, reporting a net profit of 2.395 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 15.26%, lower than the industry average of 39.81%, indicating good solvency [3] - The gross profit margin was 34.86%, slightly up from 34.82% year-on-year, and significantly higher than the industry average of 22.64%, showcasing strong profitability [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 6.50% to 73,000, while the average number of circulating A-shares held per shareholder decreased by 6.11% to 2,655.81 shares [5] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited ranked fifth with 2.5488 million shares, an increase of 1.425 million shares from the previous period [5] Group 4: Future Outlook - The company is expected to achieve revenues of 1.293 billion yuan, 1.487 billion yuan, and 1.733 billion yuan for the years 2025 to 2027, with net profits projected at 265 million yuan, 309 million yuan, and 366 million yuan respectively [5] - The automotive sector is anticipated to drive growth, with self-lubricating bearing products being applied in various automotive components, potentially increasing market share [6]

Investment Rating - The industry rating is "Outperform" [5] Core Insights - The application of self-lubricating joint bearings in humanoid robots is highly certain, with potential unit value reaching 5200 yuan, benefiting domestic manufacturers [1][2] - The demand for joint bearings is driven by humanoid robots, with self-lubricating bearing pads being the preferred solution due to their maintenance-free and lightweight design advantages [1][2] Summary by Sections Section 1: New Demand from Humanoid Robots - Self-lubricating joint bearings are suitable for humanoid robots, with a high application ratio for bearing pads [10] - Humanoid robot joints are categorized into three main configurations, with "rotation + linkage" being the primary application area for joint bearings [10][17] Section 2: High Application Certainty for Joint Bearings - The main application types for humanoid robot joint bearings are rod-end bearings, which significantly outperform traditional single-axis bearings [26] - The potential market size for joint bearings in humanoid robots could reach 5.2 billion yuan if one million units are produced, with each unit potentially using 52 joint bearings [53][54] Section 3: High Technical and Market Barriers for Self-Lubricating Bearings - Domestic manufacturers of self-lubricating joint bearings face significant technical and market barriers, but the humanoid robot industry is expected to expand the market size for joint bearings [72] - Longxi Co., Ltd. is the leading domestic manufacturer in the self-lubricating joint bearing market, with a market share of 75% in China and a global market share of 15% [67][69][86] - Changsheng Bearings, a leading self-lubricating bearing manufacturer, has developed self-lubricating joint bearings and established cooperation with key humanoid robot companies [88][92]

Core Viewpoint - Changsheng Bearing (300718.SZ) reported a revenue of 935 million yuan for the first three quarters of 2025, reflecting a year-on-year growth of 11.97% [1] - The net profit attributable to shareholders of the listed company reached 188 million yuan, an increase of 11.01% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 175 million yuan, showing a year-on-year growth of 8.88% [1] - Basic earnings per share stood at 0.63 yuan [1]

Group 1 - The core point of the article is that Changsheng Bearing announced the convening of its fifth board meeting to discuss governance system revisions [1] - For the fiscal year 2024, the revenue composition of Changsheng Bearing is 97.82% from manufacturing and 2.18% from other businesses [1] - As of the report, the market capitalization of Changsheng Bearing is 26.2 billion yuan [1]

Group 1 - The core viewpoint of the article highlights that Changsheng Bearing reported a revenue of 316,990,795.99 yuan for the third quarter of 2025, marking a year-on-year increase of 13.86% [1] - The net profit attributable to shareholders of the listed company for the same period was 61,738,377.67 yuan, reflecting a year-on-year growth of 14.83% [1]

Core Viewpoint - Changsheng Bearing (300718.SZ) reported a strong performance in its third-quarter report, indicating growth in both revenue and net profit compared to the previous year [1] Financial Performance - The company's operating revenue for the first three quarters reached 935 million yuan, representing a year-on-year increase of 11.97% [1] - The net profit attributable to shareholders of the listed company was 188 million yuan, showing a year-on-year growth of 11.01% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 175 million yuan, reflecting an increase of 8.88% year-on-year [1]

证券代码：300718 证券简称：长盛轴承 公告编号：2025-058 浙江长盛滑动轴承股份有限公司 二、本次修订部分治理制度的情况 | 14 | 《总经理工作细则》 | 修订 | 否 | | --- | --- | --- | --- | | 15 | 《董事会秘书工作制度》 | 修订 | 否 | | 16 | 《董事会专门委员会议事规则》 | 修订 | 否 | | 17 | 《信息披露制度》 | 修订 | 否 | | 18 | 《内幕信息知情人登记管理制度》 | 修订 | 否 | | 19 | 《董事和高级管理人员所持公司股份 | 修订 | 否 | | | 及其变动管理规则》 | | | | 20 | 《投资者关系管理制度》 | 修订 | 否 | | 21 | 《外汇衍生品交易业务管理制度》 | 修订 | 否 | 本次修订制度中的《董事会议事规则》《独立董事工作制度》《股东会议事规则》《关 联交易决策制度》《对外投资管理制度》《对外担保决策制度》《募集资金使用管理办法》 《董事、高级管理人员薪酬管理制度》《董事、高级管理人员行为准则》《累积投票制实 施细则》《重大资产处置管理办法》《关联方资金往来管理办法 ...

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证券代码：300718 证券简称：长盛轴承 公告编号：2025-053 浙江长盛滑动轴承股份有限公司 第五届监事会第九次会议决议公告 本公司及监事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 一、监事会会议召开情况 三、备查文件 1、第五届监事会第九次会议决议 特此公告。 浙江长盛滑动轴承股份有限公司 监 事 会 2025 年 10 月 28 日 浙江长盛滑动轴承股份有限公司（以下简称"公司"）第五届监事会第九次会议于 2025 年 10 月 24 日 14:00 在公司会议室以现场方式召开，会议通知于 2025 年 10 月 14 日以专人送达的方式发出。本次会议由监事会主席王伟杰先生召集和主持，会议应出席 监事 3 人，实际出席监事 3 人。本次会议的召集、召开与表决程序符合《中华人民共和 国公司法》和《浙江长盛滑动轴承股份有限公司章程》（以下简称《公司章程》）的有关 规定。 二、监事会会议审议情况 1、审议通过《关于 2025 年第三季度报告的议案》 经审议，监事会认为：公司 2025 年第三季度报告的编制和审议程序符合法律、法 规和《公司章程》的相关规定，报告内 ...

第五届董事会第九次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 一、董事会会议召开情况 浙江长盛滑动轴承股份有限公司（以下简称"公司"）第五届董事会第九次会议于 2025 年 10 月 24 日在公司会议室以现场、通讯方式召开，会议通知已于 2025 年 10 月 14 日发出。会议由董事长孙志华先生主持，本次董事会应参加表决的董事 7 名，实际参 加表决的董事 7 名，符合《浙江长盛滑动轴承股份有限公司章程》（以下简称《公司章 程》）规定的法定人数。公司监事和高级管理人员列席了本次会议。本次会议的召集、 召开和表决程序符合《中华人民共和国公司法》（以下称《公司法》）等法律法规和《公 司章程》的有关规定。 二、董事会会议审议情况 1、审议通过《关于 2025 年第三季度报告的议案》 经审议，董事会认为：公司 2025 年第三季度报告的编制和审议程序符合法律、法 规和《公司章程》的相关规定，报告内容真实、准确、完整地反映了公司 2025 年第三 季度的经营状况，不存在任何虚假记载、误导性陈述或重大遗漏。具体内容详见公司同 日于巨潮资讯网（www. ...