Core Viewpoint - Lixing Co., Ltd. has decided to terminate the planned acquisition of Qingdao Feiyan Lingang Precision Steel Ball Manufacturing Co., Ltd. due to the inability to reach an agreement on relevant terms within the stipulated time frame, prioritizing the interests of the company and its shareholders [1][3]. Group 1: Acquisition Details - The acquisition was initially announced in late March, with Lixing intending to acquire a controlling stake in Feiyan Steel Ball for cash [1]. - Feiyan Steel Ball, established in 2004, specializes in the research and manufacturing of precision steel balls ranging from ∮0.5 to ∮12.7mm, with significant applications in automotive, aerospace, and precision machinery sectors [3]. - Feiyan Steel Ball holds over 90% market share in the commercial vehicle and heavy truck sectors in China, supplying international brands such as Jeep and Ford [3]. Group 2: Company Performance - Lixing Co., Ltd. operates in the general equipment manufacturing industry, focusing on the research, production, and sales of precision bearing rolling elements, including precision bearing steel balls and ceramic balls [3]. - The company has experienced a decline in net profit for three consecutive years, with revenues of 974 million, 981 million, 1.002 billion, and 1.045 billion yuan from 2021 to 2024, and net profits of 90 million, 62 million, 60 million, and 55 million yuan during the same period [5]. - In the first quarter of 2025, Lixing reported total revenue of 252 million yuan, a year-on-year increase of 4.66%, and a net profit of 17.13 million yuan, reflecting an 11.28% increase [5].

Group 1 - The core viewpoint of the news is that Ru Sheng Asset has conducted research on a listed company, Xin Qiang Lian, focusing on its production capabilities and market strategies [1] - Xin Qiang Lian has achieved self-supply in the rolling body and forging fields, with its precision bearing projects primarily concentrated in the wind power sector and gearbox bearings currently in small batch shipments [1] - The company is expanding its production capacity through equipment debugging, process optimization, and talent development, while also developing overseas markets [1] Group 2 - Xin Qiang Lian possesses various heat treatment processes and corresponding equipment, allowing for flexible selection of the most suitable heat treatment methods [1] - The company has sufficient order backlogs and is striving to improve production efficiency by optimizing processes to enhance capacity utilization [1] - Continuous investment in research and development is a priority for the company [1]

证券代码：300850 证券简称：新强联 债券代码：123161 债券简称：强联转债 3、下游风电装机向好，公司在手订单充足，公司如何保 障交付？海外业务开展情况如何？ 公司目前产能利用率保持在高位运行，同时也通过设备调 试、生产工艺优化、人才梯队搭建等方式，进一步扩大产能保 证产品交付。公司客户主要集中在国内，海外市场处于开发阶 段，公司现阶段的经营重心更多的是放在国内市场，未来将持 续关注国内外政策动态和市场机会，积极开拓业务。 洛阳新强联回转支承股份有限公司 投资者关系活动记录表 编号：2025-008 | | ☑特定对象调研分析师会议 | | --- | --- | | 投资者关系活动 | □媒体采访□业绩说明会 □新闻发布会□路演活动 | | 类别 | ☑现场参观 | | | 其他（电话会议） | | | 华夏基金：陈希文；丹羿投资：郭沛瑶；建信基金：高青青； | | 参与单位名称及 | 南京证券资管：李承书；复胜资产：孙克遥；国海证券：邱迪； | | 人员姓名 | 泰康资产：鲍亮、李帛洋、陈正策；华西证券：王好尚、黄瑞 | | 连 | | | 时间 | 2025 年 5 月 27 日上午 10 ...

Group 1 - Lixing Co., Ltd. has experienced a continuous decline in stock price for six consecutive trading days, with a cumulative drop of -8.96% [1] - Lixing Co., Ltd. specializes in the production and sales of high-precision bearing rolling elements and is recognized as a national high-tech enterprise, established in 1989 and listed on the Shenzhen Stock Exchange in 2015 [1] - The fund manager of Guoshou Anbao Smart Life Stock A, Zhang Qi, has increased holdings in Lixing Co., Ltd. during the first quarter of this year, with a year-to-date return of 4.07%, ranking 378 out of 979 in its category [1][3] Group 2 - The stock performance of Lixing Co., Ltd. shows a near-term decline of -2.06% over the past week and a year-to-date increase of 4.07%, compared to the average performance of its peers [2] - The company’s stock has seen a -10.15% decline over the past three months, while the Shanghai and Shenzhen 300 index has decreased by -2.52% in the same period [2] - Guoshou Anbao Fund Management Co., Ltd. was established in October 2013, with China Life Asset Management Co., Ltd. holding 85.03% of the shares [4]

Core Viewpoint - The report by Yuanzhi Yuan from Caixin Securities highlights the stable growth of Suzhou Axis Co., Ltd. in the bearing industry, with a focus on new product development and a recommendation for a buy rating. Financial Performance - In 2024, the company achieved revenue of 715 million yuan, a year-on-year increase of 12.42% [1] - The net profit attributable to shareholders was 151 million yuan, up 21.32% year-on-year, while the net profit excluding non-recurring items was 148 million yuan, reflecting a 27.83% increase [1] - The gross margin for 2024 was 37.29%, an increase of 0.61 percentage points, and the net margin was 21.06%, up 1.54 percentage points [1] Quarterly Performance - In Q4 2024, revenue was 169 million yuan, down 1.27% year-on-year and down 10.50% quarter-on-quarter [2] - The net profit attributable to shareholders in Q4 was 33 million yuan, a decrease of 10.90% year-on-year and 24.18% quarter-on-quarter [2] - The gross margin for Q4 was 33.24%, down 1.64 percentage points year-on-year and down 6.22 percentage points quarter-on-quarter [2] Product and Regional Analysis - Bearing products generated revenue of 635 million yuan in 2024, a year-on-year increase of 11.96%, with a gross margin of 38.75% [3] - Rolling body revenue was 47 million yuan, up 24.61% year-on-year, but with a gross margin of 34.69%, down 11.37 percentage points [3] - Domestic revenue was 404 million yuan, a 10.13% increase year-on-year, while international revenue reached 311 million yuan, up 15.55% year-on-year [3] Future Outlook - The company is focusing on the development of new products, including thin-walled cross cylindrical roller bearings for harmonic reducers, which may drive future growth [4] - Revenue projections for 2025-2027 are 870 million, 1.05 billion, and 1.25 billion yuan, with net profits of 183 million, 229 million, and 283 million yuan respectively [4] - The company is rated as a "buy" based on its stable business fundamentals and growth potential in the robotics sector [4]

市场、政策加速驱动，北交所已成资本市场中坚力量 过去三年，北交所的增长规模有目共睹，截至3月4日，北证A股成分股共264个，平均市值达28.18亿元，代表 性指数北证50指数年内涨幅达30.43%，领涨A股七大主要指数。北交所整体换手率已连续多月高于创业板和科 创板，市场活跃度显著提升。 节后开市以来，在DeepSeek等泛科技产业链事件催化带动下，北交所展现出强劲势头，代表性指数北证50指数 领跑全市场，其中AI算力、机器人概念板块等涨幅居前，多次涨停。 2月28日晚间，中国证监会又一口气发布了十余份全国人大建议和政协提案复文，其中明确提出将 围绕打造服 务创新型中小企业"主阵地"的目标 ， 持续推进高质量建设北交所 。并表示将允许更多符合条件的证券公司依 法参与北交所做市业务，推动北交所高质量发展。 这背后离不开市场和政策的双重驱动。 北交所正在全面提速。 新三板主要面向的是创新型、成长型的中小企业，为其提供融资和发展的平台。而北交所则定位于服务创新型 中小企业，特别是那些已经具备一定规模和盈利能力，有更高融资需求和市场影响力的企业。 市场方面，北交所为创新型中小企业和专精特新企业提供了低门槛、高效率的融 ...