On October 28, Nanfang Bearing (002553) issued a report for the third quarter of 2020. The announcement showed that the revenue from January to September 2020 was 312,946,585.62 yuan, a year-on-year increase of 6.73%; the net profit attributable to shareholders of listed companies was 59,506,666.05 yuan, a year-on-year increase 37.02%. Among them, the third quarter profit was 23,369,695.68 yuan, an increase of 49.15% over the same period last year.

As of the end of the reporting period, the net assets of Nanfang Bearing attributable to shareholders of listed companies were RMB 711,355,791.65, an increase of 3.60% over the end of the previous year; the net cash flow from operating activities was RMB 60,702,309.53, a year-on-year decrease of 4.39%.

It is understood that the 101% year-on-year increase in other income was mainly due to the increase in government subsidy revenue recognized during the reporting period. The 63% year-on-year increase in investment income was mainly due to the increase in income from wealth management products.

According to the data, the main business of Nanfang Bearing includes the development, manufacturing and sales of needle roller bearings, one-way pulley assemblies and motorcycle one-way clutches. The product application areas include automobiles, motorcycles and industrial fields.