Changzhou Guangyang Bearing Co., Ltd. Business Report up until FY ended Dec. 2012

Business Highlights

Developing an Overseas Market

-In 2008, the Company became suppliers which directly sold to Brazil ZF, Eaton and Sweden Haldex. The Company’s products are exported to the United States, Brazil, France, Germany, Sweden, Iran, South Korea, and other countries. (From a press release on April 27, 2012)

Name Change

-In January 2011, shareholders of the Company decided to convert the Company into a shareholding company. The Company’s name was changed to its current name, Changzhou Guangyang Bearing Co., Ltd. and its registered capital increased to a total of 99.96 million yuan. (From the Company's 2012 prospectus of Initial Public Offerings)


-The Company received the Excellent Supplier Award for 2010 from the transmission departments of China Heavy Duty Truck (Hong Kong) Co., Ltd. and SAIC (Shenyang) Transmission Co., Ltd. (From the Company's 2012 prospectus of Initial Public Offerings)


R&D Center

-Starting in 2007, the Company has invested 3% of its sales in R&D each year.

-The R&D center was designated as a provincial R&D center.

-The Company owns 28 patents related to the design and manufacturing techniques of bearings.

-The Company has two provincial engineering technology centers – Jiangsu Province Needle Roller Bearings Engineering Technology Research Center and Jiangsu Province Enterprise Technology Center.

R&D Expenses

(in million yuan)
FY ended Dec. 31, 2011 FY ended Dec. 31, 2010  FY ended Dec. 31, 2009
Expenses 19.60 18.44 12.93
Sales 547.65 562.47 380.36
Ratio 3.58% 3.28% 3.40%

Investment Activities


-In 2010, the Company held a shareholders meeting and agreed to raise 33.32 million shares for the following projects.

Project Planned investment (in million yuan) Production Capacity 

Constructing production lines to manufacture precision bearings

306.20  50 million units
Building a Technical Center 44.68
Total 350.88