本报评论员岑嵘 日前，股市中发生了一起颇为离奇的故事。11月27日下午，某投资社区里出现了一则不同寻常的帖子。 发帖者自称因孩子重病面临资金缺口，恳求"主力"拉升襄阳轴承（000678）股价。帖文语气恳切："主 力如果能看到，拉个涨停吧，孩子重病钱不够努力凑了，只能在这博一下。如果博对了我永远记得主力 恩情……实在没办法了，谢谢大家帮忙，希望主力看到能帮我一次。" 很多人看到这个故事后，也纷纷发帖，"求主力拉升"，理由五花八门。 事实上，股市不是慈善、众筹机构，求主力不如求自己。 "博一下"的心态绝对不适合进入股市，如果你是抱着这样的心态，只会压力越来越大。另外家庭中看 病、养老、读书的钱也不适合进入股市，因为你承担不起亏损的风险。 股市是一个国家重要的财富平台，人民应该通过它享受经济发展的红利。在股市中赚钱，靠的是好的制 度、好的公司和好的投资眼光，而不是"主力"大发善心。 笔者想起另一个类似的故事。事情发生在今年9月。一位82岁的"上海爷叔"重仓买入上海建工 （600170）股票，10年来一直凭借退休金按月补仓，然而始终未能解套。随后，有人发起了"一人一手 助爷叔解套"的话题，该话题发酵后，上海建工股价连 ...

天眼查App显示，近日，临清市贵力轴承配件有限公司成立，法定代表人为李民，注册资本50万人民 币，经营范围为一般项目：轴承制造；轴承、齿轮和传动部件制造；通用零部件制造；轴承销售；轴 承、齿轮和传动部件销售；金属材料销售；旧货销售；通用设备修理。（除依法须经批准的项目外，凭 营业执照依法自主开展经营活动）。 ...

Core Viewpoint - The company has experienced fluctuations in revenue and profit margins, with a notable decline in net profit over the past three years, indicating potential challenges in maintaining competitiveness in the bearing industry [1][6]. Revenue Analysis - The company's main products are various types of bearing rings, with revenues of 1,044.36 million, 988.48 million, 1,146.46 million, and 295.99 million yuan, showing a trend of decline followed by recovery [1][6]. - The net profit attributable to the parent company has decreased consistently over the last three years, with figures of 45.28 million, 37.71 million, and 26.14 million yuan [1][6]. - The gross profit margins for the company were 12.61%, 11.49%, 12.61%, and 13.75%, which are below the industry average of comparable companies [1][6]. Gross Margin Comparison - The company's gross margin is lower than that of comparable companies such as Wuzhou Xinchun and Lixing Co., primarily due to differences in product offerings and market positioning [2][7]. - Wuzhou Xinchun has a longer industrial chain with higher product added value, leading to lower unit product costs and higher gross margins [7]. - Lixing Co. holds a leading position in the domestic precision bearing steel ball market, allowing for better pricing power and higher gross margins [7]. Trends in Gross Margin - The company's gross margin showed a trend of decline followed by an increase, influenced by factors such as new factory production and fluctuating customer demand [2][8]. - In 2023, increased manufacturing costs due to lower sales volume and accounting adjustments led to a decline in gross margin [7][8]. - In 2024, recovery in customer demand and new orders contributed to a rise in gross margin, despite a lag in price adjustments [7][8]. - By the first half of 2025, gross margins for the company and its peers showed an upward trend, indicating a potential recovery in the market [8].

Core Viewpoint - The company, Luoyang Bearing Group Co., Ltd. (referred to as "Luoyang Bearings"), has submitted its initial public offering (IPO) application to the Shenzhen Stock Exchange, aiming to raise 1.8 billion yuan for expansion and development projects [1]. Group 1: Company Overview - Luoyang Bearings is one of the largest comprehensive bearing manufacturing enterprises in China, possessing the only national key laboratory in the bearing industry [1]. - The company has experienced a rapid improvement in profitability since implementing mixed-ownership reform in 2022, with total assets exceeding 10 billion yuan [1]. - Luoyang Bearings ranks fourth in domestic bearing industry revenue from 2022 to 2024, with leading positions in wind power and high-end equipment bearings [2]. Group 2: Financial Performance - The company reported revenues of 3.342 billion yuan, 4.441 billion yuan, 4.675 billion yuan, and 2.821 billion yuan from 2022 to the first half of 2025, with net profits of -67.32 million yuan, 231 million yuan, 251 million yuan, and 257 million yuan respectively [3]. - Government subsidies received during the reporting period totaled approximately 146 million yuan, accounting for 21.69% of the net profit [3]. Group 3: Debt and Financing - Luoyang Bearings has a high debt level, with a debt-to-asset ratio of 80.74% as of June 2025, and interest-bearing liabilities amounting to 4.344 billion yuan [4][5]. - The company plans to use 197 million yuan from the IPO proceeds to repay bank loans [5]. Group 4: Research and Development - The company's R&D expenses were 133 million yuan, 164 million yuan, 161 million yuan, and 87.25 million yuan over the reporting periods, with a declining R&D expense ratio compared to industry averages [5]. - The R&D expense ratio was 3.99%, 3.69%, 3.44%, and 3.09%, which is lower than the industry average of around 5% [5]. Group 5: Related Party Transactions - Luoyang Bearings has significant related party transactions, with total purchases from related parties amounting to 2.339 billion yuan from 2022 to the first half of 2025 [6].

Core Viewpoint - SKF, the world's largest bearing manufacturer, is accelerating the spin-off of its automotive bearing business due to declining profit margins, while focusing on its industrial bearing business which has a significantly higher profit margin [1][8]. Automotive Bearing Business Spin-off - SKF plans to complete the spin-off of its automotive bearing business by Q4 2024, with a Nasdaq listing expected in the first half of 2026, although the progress has not fully adhered to the initial timeline due to deep integration with industrial bearings [5][6]. - As of November 2025, 50% of automotive sales have transitioned to the new entity, with 70% of automotive bearing employees and production channels already transferred [9]. Industrial Bearing Business Outlook - Post-spin-off, SKF's industrial bearing business is projected to achieve an annual sales growth of 4%, with an adjusted EBIT margin expected to rise to 17% in the medium term and further to 19% in the long term. Capital investment returns are anticipated to increase from 14% to 20% [8]. Market Challenges and Opportunities - The automotive bearing sector faces a bleak outlook, with expected sales growth slightly above the global automotive market and an adjusted EBIT margin of only 6-9% [8]. - SKF's automotive bearing business has over 100 years of experience and covers various automotive applications, including engines and electric drive systems, with a 33% market share in the electric vehicle bearing market due to strategic partnerships with major clients like BYD [11][13]. Competitive Landscape - Chinese manufacturers are increasingly challenging foreign bearing companies like SKF by offering lower prices and faster response times, which poses significant threats to SKF's market position [17][18]. - SKF's decision to spin off its automotive bearing business may be influenced by the competitive pressures from Chinese manufacturers [18]. Strategic Focus Areas Post-Spin-off - After the spin-off, SKF will concentrate on military, aerospace, and rail transit sectors, with military bearings identified as a key market due to rising defense spending in Europe [20]. - The military bearing market is expected to grow at an annual rate of 7-8% by 2030, with SKF's military bearing sales reaching 2 billion Swedish Krona in 2024 [20]. Rail and Aerospace Bearings - The rail transit segment is crucial for SKF, with sales projected to reach 5 billion Swedish Krona in 2024 and an annual growth rate of 9% from 2022 to 2024 [23]. - The aerospace bearing market is expected to grow at a compound annual growth rate of 14% from 2022 to 2025, with an 8 percentage point increase in adjusted operating profit margin [25][26]. Localization Strategy - SKF aims to enhance localization in its manufacturing processes, with 95% localization in Europe and plans to increase localization in East Asia to 70% by 2030 [28].

长盛轴承12月5日大宗交易平台共发生12笔成交，合计成交量118.33万股，成交金额8415.65万元。成交 价格均为71.12元，相对今日收盘价折价15.25%。从参与大宗交易营业部来看，机构专用席位共出现在 11笔成交的买方或卖方营业部中，合计成交金额为8114.81万元，净买入8114.81万元。 证券时报·数据宝统计显示，长盛轴承今日收盘价为83.92元，上涨3.84%，日换手率为6.10%，成交额为 9.77亿元，全天主力资金净流入3763.79万元，近5日该股累计上涨1.57%，近5日资金合计净流入535.97 万元。 两融数据显示，该股最新融资余额为7.33亿元，近5日增加911.25万元，增幅为1.26%。 12月5日长盛轴承大宗交易一览 | 成交量 | 成交金额 | 成交价 | 相对当日收盘折 | | | | --- | --- | --- | --- | --- | --- | | （万 | （万元） | 格 | 溢价（%） | 买方营业部 | 卖方营业部 | | 股） | | （元） | | | | | 70.30 | 4999.74 | 71.12 | -15.25 | 机构专用 | ...

Group 1 - The company is a global leader in special bearings, holding over 90% market share in rocket and satellite bearings [2] - The company confirmed that its aerospace bearings are sold only domestically, and major private rocket companies are primarily its clients [2]

Core Viewpoint - Luoyang Bearing Group Co., Ltd. (hereinafter referred to as "Luoyang Bearings") has officially submitted its prospectus to the Hong Kong Stock Exchange, initiating the listing process, and is recognized as a leading comprehensive bearing manufacturer in China due to its complete industrial chain layout [1] Financial Performance - The total assets of Luoyang Bearings increased from 870.28 million yuan in 2022 to 1,124.09 million yuan by June 30, 2025, indicating a steady growth trend [2] - The company's operating revenue rose from 3.34 billion yuan in 2022 to 4.67 billion yuan in 2024, with a compound annual growth rate (CAGR) of 17.8% [3] - Net profit transitioned from a loss of 55.44 million yuan in 2022 to a profit of 236.82 million yuan in 2023, further increasing to 247.61 million yuan in 2024 [3] - The net profit attributable to the parent company also showed positive growth, reaching 236.54 million yuan in 2023 and 256.54 million yuan in 2024 [2][3] - In the first half of 2025, the company reported revenue of 2.82 billion yuan and a net profit exceeding 260 million yuan, reflecting ongoing expansion and enhanced profitability [3] R&D and Technological Advancements - Luoyang Bearings plays a crucial role in the localization of high-end equipment, successfully applying its R&D achievements to domestic aircraft projects, including the C919 and C929 passenger aircraft [2] - The company’s technological advancements in aerospace have reached an internationally advanced level, filling domestic technical gaps and supporting the commercial operation of domestic large aircraft [2]

Core Viewpoint - Luoyang Bearing Group Co., Ltd. (referred to as "Luoyang Bearings") has received acceptance for its IPO on the ChiNext board, aiming to raise 1.8 billion yuan for various development projects and debt repayment [1][2]. Financial Performance - Luoyang Bearings has shown a continuous increase in profitability, with projected revenues of 3.342 billion yuan, 4.441 billion yuan, 4.675 billion yuan, and 2.821 billion yuan for the years 2022, 2023, 2024, and the first half of 2025, respectively [1]. - The net profit attributable to shareholders is expected to be -67.329 million yuan, 231 million yuan, 251 million yuan, and 257 million yuan for the same periods, indicating a trend of growth [1]. IPO Fund Utilization - The IPO proceeds of 1.8 billion yuan will primarily be allocated to the development and application of high-speed train bogie bearings, intelligent production construction for new energy bearings, precision bearing industry upgrades, and the industrialization of high-end precision small turntable bearings, as well as repaying bank loans [1]. Competitive Positioning - The implementation of the proposed projects is expected to enhance the company's competitive capabilities and sustainable development, solidifying its advantages in major equipment bearings and new energy vehicle bearings [2]. - The company aims to support potential market expansions in high-speed train bearings, high-end CNC machine tool bearings, and robot bearings through improved R&D, production capacity, and financial resources [2].

证券时报记者吴少龙 什么样的产品，既能随神舟飞船叩问苍穹，又能伴盾构机掘地潜行，还能助海上风机发出绿电？答案 是：轴承。 这些支撑大国重器运转的关键轴承，许多正来自洛阳轴承集团股份有限公司(简称"洛轴集团")——这家 诞生于国家"一五"期间156个重点建设项目的企业，已深耕轴承制造七十一载，并蜕变为覆盖9大类型、 3万余种产品，服务航天、基建、新能源等多领域的现代化企业集团。 "十四五"以来，洛轴集团践行国企改革与制造业高质量发展要求，以创新破"卡脖子"难题，以改革激活 内生动力，营业收入和净利润连年实现两位数增长，先后被国务院国资委评为"国有重点企业管理标杆 创建行动标杆企业""创建世界一流专精特新示范企业"，在老工业基地为中国轴承产业高质量发展注入 核心动能。 老国企的活力，要靠市场化改革唤醒。近年来，洛轴集团以市场化手段破除体制机制障碍，实现效率与 效益双提升。 内部架构"瘦身健体"。据介绍，公司按照以客户为中心、扁平化、精干高效的原则，通过合并、撤销、 重组等途径，将机关部室由18个整合至10个，将零件辅助单位由9个整合至4个。"通过关闭、清算、破 产、股权转让等方式，剥离劣质和辅业资产板块，让企业瘦 ...