Bearings
The bearing business of the company is applied in the field of national defense and military industry, which is an important source of profit for the company. The second is precision bearings and motorized spindles used in machine tools, with a business scale of about 100 million. The third is the large and extra-large bearings used in wind power generation, shield machine, construction machinery and metallurgy industries, with a business scale of about 100-200 million yuan.
China National Machinery Precision saw its first-half net profit rise 444% year-on-year to 126 million yuan, doubling its net profit growth rate for the third consecutive quarter, analysts said. With the development of national defense military industry, pulled by downstream demand, military bearing has grown rapidly in recent years.
It is worth noting that by the end of the second quarter, the top ten outstanding shareholders of State Machinery Seiko hold a total of 226 million shares, accounting for 54.4% of outstanding shares, an increase of 4.3244 million shares compared with the end of the first quarter. Five new institutional investors added 5.52 million shares in the second quarter.
