Sinomach Precision Unveils Rocket Bearing Roadmap and Superhard Material Self-Sufficiency Breakthrough

On April 21, 2026, Sinomach-PI (002046) received a research visit from a securities institution, detailing the company's core layout in the high-end manufacturing field, particularly the substantial progress made in the two strategic directions of commercial aerospace and key semiconductor consumables.

I. Clear Business Structure, Steady Growth of Two Pillars

Sinomach-PI possesses a strong scientific research background, its predecessors being the Luoyang ZYS and Zhengzhou Third Grinding Institute, both established in 1958. These are respectively the only national-level comprehensive research institutions in China's bearing and superhard materials fields. In 2025, the company achieved revenue of 3.019 billion yuan, a year-on-year increase of 13.59%; net profit attributable to the parent company was 260 million yuan, a year-on-year decrease mainly due to the injection of a portion of the equity of the superhard materials business into the joint venture (Sinomach Diamond Platform), resulting in a significant increase in minority shareholders' profit and loss. Excluding this accounting impact, the actual profit of the main business maintained steady growth.

The company's business focuses on two main segments:

Bearing Segment: Revenue reached RMB 1.328 billion in 2025, a year-on-year increase of 25.56%, covering special bearings, wind power bearings, and precision machine tool bearings. Among these, aerospace supporting products cover liquid rocket engine turbopump bearings, servo system bearings, navigation/attitude control system bearings, as well as momentum wheel components for satellites, solar array and antenna pointing mechanism bearings. Customers include major domestic rocket and satellite manufacturers (including private commercial aerospace companies).

Superhard Materials Segment: With diamond structured applications as its core, revenue reached RMB 668 million in 2025, with a gross profit margin as high as 63.4%, an increase of over 5 percentage points year-on-year. Benefiting from the accelerated localization of semiconductor production, high-end consumables such as ceramic carriers, dicing blades, and packaging blades have achieved mass production supply, successfully breaking the long-term monopoly of Japanese manufacturers.

II. Comprehensive Breakthroughs in Key Semiconductor Consumables, Significant Technological Barriers

In the semiconductor field, relying on the "National Key Laboratory of Superhard Materials and Abrasives," the company has built a complete product matrix, including chamfering wheels, thinning wheels, dicing blades, packaging blades, and precision ceramic components such as ceramic chucks, vacuum chucks, and electrostatic chucks. These products have high technological barriers, with major competitors being international giants. However, thanks to performance advantages and local service responsiveness, the company's market penetration continues to increase.

Furthermore, the functional application of diamond is accelerating. In 2025, diamond heat sinks and optical windows secured small-batch orders from the defense sector, generating revenue exceeding ten million yuan. In the civilian sector, CVD single/polycrystalline diamond and diamond-copper composite materials have been sampled and are expected to achieve commercial breakthroughs within the year.

III. Prominent Support Capabilities in Commercial Aerospace, High-End Equipment Independently Controllable

In response to the rapid development of commercial aerospace, Sinomach-PI is focusing on improving the production capacity and intelligent level of aerospace bearings. Its products are deeply embedded in core rocket systems: liquid rocket engine turbopump bearings withstand extreme high temperatures, pressures, and high-speed rotation; servo system bearings ensure precise thrust vector control; and navigation and attitude control system bearings ensure stable flight attitude.

Simultaneously, the company independently develops high-end equipment, such as bearing-specific grinding machines, ultra-precision machines, six-sided top presses, and MPCVD equipment, achieving full-chain self-sufficiency and control from materials and components to manufacturing equipment.

IV. Focusing on Core Businesses and Optimizing Business Structure

It is worth noting that the company is proactively scaling back non-core supply chain management services, clearly defining its "focus on core responsibilities and businesses" strategy. Future resources will be concentrated in the high-tech, high-value-added fields of bearings and superhard materials.

Looking ahead, with the expansion of domestic wafer fabs, the advancement of advanced processes, and the explosive growth of commercial aerospace, Sinomach-PI, as a national strategic scientific and technological force, is expected to continue to unleash growth momentum in the two key tracks of "spaceflight" and "semiconductors."