From January to June, the bearing output value of LYC's Super Large Bearing Factory successfully met and even exceeded the production targets set by the company for the first half of the year. Notably, the contribution of new product output played a crucial role in achieving this goal, effectively supporting more than half of the factory’s total production volume.
Since the start of this year, the Super Large Bearing Factory has seized the favorable opportunities in the new product market, where there have been sufficient orders and stable material supply. This year, the processing of new products involved a significant number of purely innovative items, characterized by high added value, precision, and complexity. From the beginning of the year, the factory meticulously planned its production schedule, prepared in advance, and organized operations in a scientific and efficient manner. Efforts were made to accelerate the production pace and ensure smooth synchronization across all stages of the production process, leading to improved efficiency and better coordination.
However, during the first half of the year, the output of new products experienced a 18% decline compared to the same period last year. This drop was particularly noticeable in sectors such as mining and metallurgy, as well as port terminals, where both the variety and volume of new products were lower than the previous year. On the other hand, in fast-growing industries like petrochemicals, LYC's super large bearings achieved notable progress in market penetration, marking a new milestone in brand recognition and customer trust.
Overall, while some challenges remain, the factory continues to adapt and optimize its strategies to meet evolving market demands and maintain long-term growth.
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