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Chinese maker of large slewing (ring) bearings used in wind turbines, cranes and excavators.
Chinese maker of large slewing (ring) bearings used in wind turbines, cranes and excavators.
Sells large rotating bearings that let wind-turbine blades and nacelles turn, and that sit in cranes and excavators, so orders follow turbine installations and construction-machinery output. Wind makers' installation schedules and the cyclical machinery market drive swings in revenue.
Moat: narrow (process know-how, customer qualification). Qualified supplier for large equipment makers; heavy bearings need certified process control.
Headquarters: Luoyang, China · Employees: 2,379
Size Luoyang Xinqianglian Slewing Bearing (300850.SZ) is a China Industrials company (Metal Fabrication) with a market value of $1.54B, the 1598th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥24.80 on 6 Nov 2026.
Performance Over six months the shares fell 42.1%, against -12.8% for the median peer and -16.4% for the China market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue grew 9.8% over the last twelve months (peer median +20.3%); the operating margin is 20.8% (peer median 8.2%).
Valuation It trades at 11.1× forward earnings against a peer median of 40.5× (2nd cheapest of 16).
Capital Return on invested capital runs 0.3 points below its cost of capital (7.0% WACC).
Next results Next results expected around 8 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥4.49B | CN¥4.62B | CN¥2.95B | CN¥2.82B | CN¥2.65B |
| Revenue growth | — | +57% | +4% | +7% | — |
| Gross profit | CN¥1.25B | CN¥1.24B | CN¥512M | CN¥710M | CN¥701M |
| EBITDA | CN¥1.36B | CN¥1.35B | CN¥569M | CN¥623M | CN¥555M |
| Net income | CN¥830M | CN¥818M | CN¥65.4M | CN¥375M | CN¥316M |
| Free cash flow | -CN¥218M | -CN¥426M | -CN¥279M | -CN¥1.32B | -CN¥1.85B |
| Capital expenditure | CN¥507M | CN¥449M | CN¥729M | CN¥1.25B | CN¥2.06B |
| Total debt | CN¥3.96B | CN¥3.81B | CN¥4.09B | CN¥3.96B | CN¥4.11B |
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| Measure | 300850.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -17.5% | -10.3% | 9th lowest of 21 |
| 6-month return | -42.1% | -12.8% | 4th lowest of 21 |
| Distance from 52-week high | -57.0% | -45.7% | 8th lowest of 21 |
| Revenue growth (TTM) | +9.8% | +20.3% | 9th lowest of 21 |
| Operating margin | 20.8% | 8.2% | 4th highest of 21 |
| Forward P/E | 11.1× | 40.5× | 2nd cheapest of 16 |
| ROIC minus cost of capital | -0.3 pp | -3.5 pp | 7th highest of 21 |
| EV / EBITDA | 9.8× | 18.4× | 2nd cheapest of 8 |
| Net debt / EBITDA | 2.0× | 1.2× | 2nd most indebted of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Luoyang Xinqianglian Slewing Bearing 300850.SZ | China | $1.54B | -42% | +10% | 21% | 11.1× | n/a | n/a |
| Usha Martin USHAMART.NS | India | $1.54B | 0% | +9% | 17% | 22.8× | 23.1% | +12.0% |
| Essence Fastening Systems (Shanghai) 301005.SZ | China | $1.54B | -55% | +17% | 0% | n/a | n/a | n/a |
| Shenzhen Vital New Material 301319.SZ | China | $1.53B | +15% | +34% | 5% | 82.0× | n/a | n/a |
| Suzhou UIGreen Micro&Nano Technologies 688661.SS | China | $1.55B | -44% | -7% | -3% | 44.2× | n/a | n/a |
| HENGHUI Technology 301678.SZ | China | $1.53B | -28% | +10% | 8% | n/a | n/a | n/a |
| Richelieu Hardware RCH.TO | Canada | $1.48B | -2% | +7% | 7% | 20.5× | 5.7% | +11.7% |
| Changzhou Nrb 002708.SZ | China | $1.63B | +50% | +29% | 1% | 74.0× | n/a | n/a |
| Azad Engineering AZAD.NS | India | $1.66B | +8% | +29% | 28% | 91.6× | n/a | n/a |
| Nanshan Aluminium International 2610.HK | Hong Kong | $1.67B | -45% | -19% | 21% | 7.8× | n/a | n/a |
| Freewon China 688678.SS | China | $1.41B | -13% | +33% | 6% | 19.6× | n/a | n/a |
| Riyue Heavy Industry 603218.SS | China | $1.41B | -28% | -17% | 5% | 24.6× | 5.0% | +4.1% |
| Happy Forging HAPPYFORGE.NS | India | $1.70B | +20% | +16% | 25% | 40.5× | 42.7% | +21.2% |
| Gaona Aero Material 300034.SZ | China | $1.71B | -29% | +5% | 5% | 49.0× | 21.3% | +18.5% |
| Wuxi Paike New Materials and Technology 605123.SS | China | $1.34B | -31% | +23% | 8% | 22.0× | n/a | n/a |
| Ramkrishna Forgings RKFORGE.NS | India | $1.34B | +12% | +25% | 9% | 46.9× | n/a | n/a |
| SF Diamond 300179.SZ | China | $1.81B | -12% | +34% | 11% | 79.8× | 49.2% | +12.2% |
| Baoding Technology 002552.SZ | China | $1.84B | +44% | +64% | 15% | n/a | 11.3% | +54.0% |
| Beijer Alma BEIA-B.ST | Sweden | $1.86B | 0% | +6% | 15% | 20.7× | 9.9% | +12.8% |
| Hunan Boyun New Materials 002297.SZ | China | $1.25B | -41% | +37% | 15% | n/a | n/a | n/a |
| Guangdong Xianglu Tungsten 002842.SZ | China | $1.23B | -38% | +126% | 15% | n/a | n/a | n/a |