Core Viewpoint - Luoyang Bearing Group Co., Ltd. (referred to as Luozhou Co.) has received approval for its IPO application on the ChiNext board, with a planned fundraising amount of 1.8 billion yuan [1][2]. Company Information - Luozhou Co. was established in 1954 as Luoyang Bearing Factory, recognized as one of the key projects during China's First Five-Year Plan, and has developed into a leading comprehensive manufacturing enterprise in the bearing industry over 70 years [3]. - The company holds the only national key laboratory in the bearing industry and is a leader in high-end bearing research and development in China [3]. Financial Performance - According to the China Bearing Industry Association, Luozhou Co. ranked 4th in domestic bearing industry revenue from 2022 to 2024 [4]. - The company's revenue figures for 2022, 2023, 2024, and the first half of 2025 were 3.342 billion yuan, 4.441 billion yuan, 4.675 billion yuan, and 2.821 billion yuan, respectively, with net profits of -67.32 million yuan, 231 million yuan, 251 million yuan, and 257 million yuan, indicating a continuous growth trend [4]. IPO Fund Utilization - The funds raised from the IPO will be primarily allocated to the development and application of high-speed train bogie bearings, intelligent production construction of new energy bearings, upgrading of precision bearings for major technical equipment, industrialization of high-end precision small turntable bearings, and repayment of bank loans [2][4].