Shuangfei Bearing planned IPO to raise 200 million yuan after expansion to increase production capacity by 60%

Although the existing production capacity has been “full of horsepower,” the sales growth of Zhejiang Shuangfei Non-oil Bearing Co., Ltd. in recent years seems to be one step faster. According to the verification of Zhejiang Environmental Protection Agency, the company is currently planning to enter the capital market. "Fast lane", plans to raise 200 million yuan IPO, will significantly increase production capacity of more than 60%.

According to a public announcement from the Zhejiang Environmental Protection Agency, Shuangfei Bearing has basically complied with the relevant requirements for environmental protection verification of listed companies and publicized it from March 16 to 25. The verification period was from January 2009 to December 2011. The scope of verification included Shuangfei Bearing and its subsidiary Jiashan Shuangfei Lubricant Material Co., Ltd., and another subsidiary, Jiashan Zhuobo Import and Export Trade Co., Ltd. was not included in the scope of this verification.

Shuangfei Bearing formerly known as Jiashan metal plastic self-lubricating bearing joint venture, was established in May 1988, September 2011, the overall change to a joint stock company, the company registered capital of 63.16 million yuan. Shuangfei Bearings is mainly engaged in the research, development, production and sales of composite materials for self-lubricating bearings and self-lubricating bearings. From the downstream point of view, the company's products are widely used in automobile manufacturing, engineering machinery, mold manufacturing and hydraulic equipment and other machinery manufacturing, the company owns SANY Group, Japanese mold maker MISUMI Co., Ltd., China National Heavy Duty Truck Group The heavyweight customers within the company are widely distributed in the engineering machinery, mold manufacturing and heavy duty industries.

At present, A-share companies that are similar to Shuangfei Bearing's products and the downstream have Tianma, Longxi, Nanfang, and Northwest Bearings. From the perspective of profitability, the volume of double-bearing bearings is similar to that of South Bearing. The company stated that this IPO is planned to be listed on the Shenzhen Stock Exchange and it plans to publicly issue approximately 21.06 million shares. It is expected to raise funds of approximately RMB 200 million. The funds raised are mainly used for the “annual production of 102.3 million sets of sliding bearings” and “an annual output of composite materials. 250,000 square meters of construction projects, R&D center construction projects and other working capital projects related to main business. The implementation of the three projects is in the Jiashan Qianyao Industrial Park in Zhejiang Province. After the above investment projects are put into production, the company's production capacity of various types of bearings and composite materials projects will both expand by more than 60%.