Zhejiang Changsheng Sliding Bearings Co., Ltd.: history, ownership, mission, how it works & makes money

Zhejiang Changsheng Sliding Bearings Co., Ltd. - listed as 300718.SZ - traces its roots to the Jiashan Changsheng Composite Bearing Factory established in 1995, formally registering in 2001 and building credibility with ISO 9000 (2004), a registered 'CS' trademark (2009), ISO/TS 16949:2009 (2012) and IATF 16949:2016 (2018) certifications; today the company designs, manufactures and sells self‑lubricating bearings (metal‑plastic, bimetallic and non‑metallic) across automotive, engineering, port, plastic and agricultural machinery sectors, employing approximately 989 staff and reporting revenues of RMB 1.24 billion in 2024 with a net income of 247.72 million yuan, while targeting a 30% reduction in carbon emissions by 2025; publicly traded with a market capitalization near 24.42 billion yuan as of December 12, 2025, Changsheng serves domestic and export markets (South Korea, Germany, Britain, Italy, France, Sweden), pursues robotics and other new applications, and recently drew shareholder attention with a proposal from Chenjian Chu to provide guarantees for a subsidiary's comprehensive credit line to be discussed at the Extraordinary General Meeting on November 13, 2025.

Zhejiang Changsheng Sliding Bearings Co., Ltd. (300718.SZ): Intro

• Core products: self-lubricating composite bearings, bronze-based and polymer-metal composite bushings, custom-engineered sliding solutions.
• Primary markets: automotive suppliers (powertrain, chassis), heavy machinery, construction equipment, wind power and general industrial OEMs and aftermarket.
• Quality & certification focus: international automotive and quality-system certifications to support OEM supply chains.

• 1995-2001: Founding stage and artisanal manufacturing of composite bearings; focus on establishing product quality and local market presence.
• 2001-2009: Formal corporate registration, capacity expansion, and brand-building culminating in 'CS' trademark protection.
• 2009-2018: Deepening OEM engagement through automotive certifications (ISO/TS 16949 → IATF 16949) and systematic quality controls to qualify as a tier supplier.
• Post-2018: Continued product development for heavy-duty, low-maintenance applications and broader industrial diversification.

• Listed entity: trades under ticker 300718.SZ on the Shenzhen exchange (ChiNext board / growth enterprise market segment).
• Shareholder base: mix of institutional investors, retail shareholders and founding management (typical for listed mid-cap manufacturing firms); corporate governance aligned with PRC listing rules.
• Management focus: R&D and quality systems to maintain OEM supply relationships and uphold automotive-grade process controls.

• Mission: Provide reliable, low-maintenance sliding bearing solutions that reduce lifecycle cost and improve equipment uptime.
• Strategic priorities: certification-driven access to automotive supply chains, product customization for heavy-duty industrial customers, and continuous materials/process innovation.
• Competitive advantages: specialization in self-lubricating composites, long-standing manufacturing experience since 1995, and automotive-quality certifications (IATF 16949).

• Materials & processes: composite and metal-polymer material systems using sintering, machining, impregnation with solid lubricants and precision finishing.
• Production flow: material preparation → forming/sintering → machining → impregnation/solid-lubricant treatment → quality inspection → assembly/packaging.
• Quality controls: ISO/IATF-aligned procedures, incoming material inspection, dimensional control, lubricity and wear testing to meet OEM specs.

• Product sales to OEMs: long-term supply agreements and project-based orders for automotive and industrial OEMs (primary revenue driver).
• Aftermarket & replacement parts: sales through distribution channels and aftermarket customers for maintenance/repair.
• Custom engineering & value-added services: design-in support, OEM qualification, and small-batch custom components with higher margins.

• OEM qualification cycles and certification status (IATF 16949) determine access to automotive programs and long-term orders.
• Material costs and production efficiency affect gross margins for commodity-like bearing products.
• Product mix (standard bushings vs. customized engineering solutions) influences margin profile and revenue stability.
• Export and domestic OEM demand cycles in automotive and heavy machinery sectors drive order volume variability.

• Certifications and trademark history (ISO 9000, ISO/TS 16949, IATF 16949, 'CS' trademark) form the backbone of the company's quality and brand credentials.
• Investor disclosures, annual reports and exchange filings (for ticker 300718.SZ) provide detailed financials, production capacity and ownership breakdown.

Zhejiang Changsheng Sliding Bearings Co., Ltd. (300718.SZ): History

• Public listing: Shenzhen Stock Exchange, ticker 300718.SZ (status as of November 2025).
• Shareholder base: mix of institutional investors, retail holders and company insiders (diverse public/private mix driving strategic decisions).
• Active shareholder engagement: in November 2025 shareholder Chenjian Chu submitted a proposal requesting the company provide guarantees for a holding subsidiary's comprehensive credit line application to a bank.
• Extraordinary General Meeting: that proposal was scheduled for discussion at the EGM on 13 November 2025.

• Product sales: engineered sliding bearings for automotive, construction machinery, wind power, shipbuilding and general industrial applications - primary revenue driver.
• Aftermarket & services: replacement parts, technical support and customized bearing solutions yield recurring revenue and margin uplift.
• OEM contracts: long-term supply agreements with vehicle and equipment manufacturers provide stable order flow and working-capital visibility.
• Export sales: international customers contribute to top-line growth and diversification.

• Liquidity & credit access: the November 2025 proposal to guarantee a holding subsidiary's comprehensive credit line highlights management focus on bank financing and group-level capital allocation.
• Shareholder oversight: institutional and retail participation in EGMs influences capital decisions, M&A, and guarantee/related-party policies.

Zhejiang Changsheng Sliding Bearings Co., Ltd. (300718.SZ): Ownership Structure

• Mission and values: innovation-led product development, strict quality control, customer-centric service.
• Sustainability goal: reduce carbon emissions by 30% by 2025.
• Strategic focus: OEM contracts, aftermarket sales, export growth, and technology partnerships with global firms.

• Manufacturing: produces sintered, composite, and polymer self-lubricating bearings at scale for high-volume automotive and industrial use.
• Sales channels: OEM supply agreements, tiered supplier relationships, direct industrial sales, and distributor networks domestically and abroad.
• Revenue drivers: volume contracts with automakers, specialty aerospace components with higher margins, aftermarket replacements, and licensing/technology transfer deals.
• R&D monetization: proprietary formulations and bearing designs that command premium pricing and recurring contracts.

• Founder & executive directors: ~28% (combined)
• Institutional investors / mutual funds: ~35%
• Public float and retail investors: ~37%

• Long-term OEM agreements with domestic automakers and industrial equipment manufacturers bolster recurring revenue.
• Collaborations with international suppliers and research institutes accelerate material science improvements and qualifying for aerospace standards.
• Sustainability initiatives (energy efficiency, emissions reduction) support procurement criteria for global customers and reduce operating costs.

Zhejiang Changsheng Sliding Bearings Co., Ltd. (300718.SZ): Mission and Values

• Self-lubricating composite structure: a layered architecture combining a metallic backing, a polymeric or composite sliding layer, and often a solid lubricant-infused surface to provide low friction and wear resistance without routine oiling.
• Primary product categories:
  • Metal-plastic polymer self-lubricating rolled bearings - metal backing with polymer sliding surface for dynamic loads.
  • Bimetallic boundary-lubricating rolled bearings - layered metal-metallurgical bonding for higher-load and shock-tolerant applications.
  • Non-metallic self-lubricating bearings - engineered thermoplastics and composites for corrosion resistance and lightweight use cases.
• Manufacturing process highlights: precision rolling or forming of backing shells, deposition/lamination of polymeric layers, controlled curing and finishing, followed by dimensional and tribological testing.
• Quality assurance: production lines equipped with advanced metrology and tribology test rigs; adherence to ISO 9000 family frameworks and IATF 16949:2016 for automotive-grade quality systems.

• Workforce: approximately 989 employees supporting R&D, production, quality, and sales operations.
• Facilities: vertically integrated manufacturing with automated forming presses, polymer bonding lines and in-house testing labs to validate wear, friction coefficient and endurance.
• Industry coverage: products used across automobiles, engineering machinery, port machinery, plastic machinery and agricultural machinery, enabling broad addressable markets.

• Product sales: primary revenue from bearings sold as OEM components to vehicle and machinery manufacturers and as aftermarket replacement parts.
• Customized solutions and engineering services: margin-accretive contracts providing tailored bearing designs, prototyping and validation for special machinery and heavy equipment customers.
• Value-added services: technical support, installation guidance and performance testing services that deepen customer relationships and support recurring sales.

• Certifications: ISO 9000 family quality systems and IATF 16949:2016 certification for automotive manufacturing quality standards.
• R&D focus: materials science and tribology research to optimize polymer formulations, filler types and bonding processes aimed at improving friction coefficients and wear rates.
• Customer mix: serves OEMs and aftermarket channels across multiple heavy and light industry segments, positioning the firm as a diversified supplier rather than single-market dependent.

• Employees: ~989 people supporting production and operations.
• Manufacturing controls: in-house testing methods for wear, load capacity and dimensional tolerances aligned to IATF/ISO practices.
• Product breadth: multiple bearing families (metal-plastic, bimetallic, non-metallic) enabling cross-industry sales.

Zhejiang Changsheng Sliding Bearings Co., Ltd. (300718.SZ): How It Works

• Core products: self-lubricating bearings, composite bearing sleeves, precision castings and customized bearing assemblies.
• Primary end markets: automotive, engineering machinery, port machinery, plastic machinery and agricultural machinery.
• Geographic footprint: domestic China sales plus exports to South Korea, Germany, Britain, Italy, France and Sweden.
• Customer profile: OEM suppliers to well-known domestic and foreign automotive and construction machinery manufacturers with long-term cooperative agreements.

• Manufacturing flow: raw material casting → precision machining → surface treatment and impregnation (self-lubrication) → inspection → packaging and logistics.
• R&D & quality: material science for wear-resistant alloys, tribology testing, longevity testing under load and temperature.
• Sales & distribution: direct OEM accounts, authorized distributors for export markets, and aftermarket channels for replacement parts.

Zhejiang Changsheng Sliding Bearings Co., Ltd. (300718.SZ): How It Makes Money

• Core products: self-lubricating bearings, bearing assemblies, customized engineered solutions for heavy industry and motion-control applications.
• End markets: industrial machinery, automotive repair & OEM, wind power, construction equipment, rail, and growing exposure to robotics (robot joints).
• Revenue streams: product sales, OEM contracts, development & customization fees, after-sales service and spare parts.

• Robotics opportunity: supplying self-lubricating bearings for robot joints and actively strengthening cooperation across the robotics industry chain to develop tailored products per customer needs.
• Innovation focus: R&D investments to adapt bearing materials and geometries for higher-speed, lower-friction and maintenance-free operation.
• Sustainability & quality: product durability reduces lifecycle environmental impact and supports long-term contracts with industrial customers.