China NanFang Precision intends to raise 366 million yuan to accelerate innovation and development in the automotive and industrial bearing fields
Recently, NanFang Precision announced an important plan to raise no more than RMB 366 million through a private placement of shares. The funds will be mainly used for two key projects: "Construction of precision brake and transmission component production line" and "Expansion of precision industrial bearing production line".
As a manufacturer focusing on precision bearings, overrunning clutches, one-way pulley assemblies and other precision parts, NanFang Precision's products are widely used in automobiles, motorcycles and other industrial fields. After years of development, the company has established significant advantages in the automotive parts industry and has accumulated rich experience in the processing of precision parts for brake systems and transmission systems.
One of the purposes of this fundraising is to optimize the production process of wire control brake products in response to the trend of intelligence in the automotive industry. This move will not only help enhance the company's sustainable development capabilities, but also enhance the company's ability to quickly adapt to changes in market demand and expand its market share in the field of precision components for automotive brake and transmission systems.
In addition, with the growth of downstream customer business, the demand for needle roller bearings is also increasing, and the existing production capacity is close to saturation. Therefore, NanFang Precision also plans to meet this challenge by expanding its precision industrial bearing production line. This move is aimed at meeting the huge demand for bearings in industries such as engineering machinery, machine tools, power tools and packaging machinery, while adjusting the distribution structure of customer industries to ensure the long-term stable growth of the needle roller bearing business.
As a high-tech enterprise and a member of the "little giant" enterprise of Jiangsu Province, NanFang Precision has always attached importance to technological innovation. By the end of 2024, the company has obtained approximately 150 patents and has a professional team of more than 140 R&D personnel. These scientific research resources provide strong support for the company's technological progress and lay the foundation for the successful implementation of the fundraising project.
In the face of opportunities brought by the rapid development of the global bearing and automotive industries, NanFang Precision will be guided by market demand and committed to the goals of import substitution and localization. Through this fundraising project, it will further strengthen its product layout in the field of automotive parts and industrial bearings, increase production capacity and optimize product structure, so as to enhance market competitiveness and profitability and bring more stable returns to investors.
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