NanFang Precision is planning to raise over 366 million yuan to fund its precision parts and industrial bearing projects
On August 18, the Shenzhen Stock Exchange's official website announced that Jiangsu NanFang Precision (Jiangsu NanFang Precision) has received registration approval from the China Securities Regulatory Commission (CSRC) for its share issuance to specific entities, paving the way for its upcoming listing on the Shenzhen Stock Exchange's main board. The planned total proceeds from this private placement will not exceed 366.0942 million yuan, with funds primarily invested in projects such as the "Precision Braking and Transmission Components Production Line Construction Project" and the "Precision Industrial Bearing Production Line Construction Project."
NanFang Precision is a manufacturer specializing in the research, development, production, and sales of precision bearings, one-way clutches, one-way pulley assemblies, and other precision components. Its business covers a wide range of applications, including gasoline-powered passenger vehicles, motorcycles, new energy vehicles, commercial vehicles, industrial robots, reducers, and power tools. Leveraging its continuous technological development, the company has become a leading domestic manufacturer of needle roller bearings and one-way clutches, serving a client base that includes internationally renowned automotive parts companies, industrial machinery manufacturers, and motorcycle parts suppliers.
In recent years, while maintaining steady growth in its traditional businesses, NanFang Precision has continuously expanded its industrial chain and explored emerging markets. In 2020, the company acquired a controlling stake in Shanghai Zhencheng through a capital increase, expanding its business into integrated circuit development, design, and sales, further enhancing its comprehensive capabilities in high-end manufacturing. In 2022, the company established Southern Changsheng to enter the R&D and production of electric scroll compressors for new energy vehicles. This will form a structure of synergistic development with its core business, accelerate the development of its new energy vehicle parts business, and open up new avenues for future growth.
According to the announcement, the funds raised will be primarily used for two major projects: the construction of a precision brake and transmission component production line, which will further strengthen the company's R&D and manufacturing capabilities in the high-end automotive parts field; and the construction of a precision industrial bearing production line, which will help NanFang Precision expand its bearing production scale and enhance its product mix to meet growing demand in both domestic and international markets.
Due to the increase in the company's total share capital after the completion of the private placement and the time required to build and reach full production of the new production line, NanFang Precision's indicators such as return on equity and earnings per share may face pressure in the short term. However, in the medium and long term, with the implementation of new projects and the release of market demand, the company's profitability and economies of scale are expected to steadily improve.
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