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].