The Beijing Stock Exchange listing committee has approved Suzhou Tiejin Electromechanical Technology, a maker of ball bearings smaller than a grain of rice, eleven months after it filed and four rounds of questions later.
It is raising RMB 395 million. About RMB 680 million is earmarked for a project to build capacity for 600 million high-precision bearing sets a year, and RMB 51 million for a dexterous-hand micro-actuator R&D centre that will not produce anything. Total project investment is roughly RMB 730 million, which means the raise covers a little over half and the rest comes from the company’s own balance sheet.
Editor’s note: This is an adapted translation of the original OFweek report. It has been trimmed and restructured for readability for an international business audience. The full original (in Chinese) is at https://robot.ofweek.com/2026-11/ART-8321201-8120-30710811.html.
The gap nobody wanted to machine
China produces about a quarter of the world’s bearings by volume and imports most of what goes into high-end equipment. Four firms, SKF of Sweden, Schaeffler of Germany, NSK and NTN of Japan, have long held around 75 per cent of the high-end market.
Chinese leaders such as Renben, Luoyang Bearing, Wafangdian and Guojing Precision concentrate on automotive, wind power, rail and defence bearings in larger sizes, built on standardised mass production. Few go below 9 millimetres outer diameter. The American National Standards Institute defines a miniature ball bearing as anything under 9mm, and the smaller the part, the harder the grinding, assembly and inspection become to hold stable at volume.
Tiejin was founded by a group of Chinese engineers who spent the early 1990s inside top-tier international bearing manufacturers. It holds 76 granted patents, makes 80 per cent of its own core equipment, and has developed and sold more than 1,700 bearing models. Its workhorses are the 693 bearing at 3mm bore and 8mm outer diameter, and the 52 bearing at 2mm by 5mm.
DJI is now the largest customer
The customer roster explains the growth. DJI went from fourth-largest customer at 5.38 per cent of sales in 2023 to first at 11.12 per cent in 2024 and 19.19 per cent in 2025. In the first half of 2026 DJI remained first at 11.18 per cent, with Dreame second at 4.37 per cent. Bambu Lab, Ecovacs and Moons’ also buy.
Revenue went from RMB 274 million in 2023 to RMB 284 million in 2024 and RMB 409 million in 2025. Net profit moved from RMB 59.87 million to RMB 48.63 million, a fall of 18.77 per cent, then to RMB 80.13 million, up 64.77 per cent. In the first half of 2026 revenue rose 45.25 per cent to RMB 250 million and net profit rose 102.37 per cent to RMB 59.95 million. Guidance for the first nine months puts revenue at RMB 375 million to RMB 415 million and net profit at RMB 85.5 million to RMB 94.5 million.
Unit economics are thinning in a useful way. Tiejin sold 438.4 million bearings in 2025 at a unit cost of RMB 0.57. In the first half of 2026 it sold 277.1 million at an average price of RMB 0.90 a piece, with margins holding. China’s extra-miniature bearing market was worth RMB 6.21 billion in 2025 on CCID Consulting figures, which puts Tiejin at about 5.80 per cent domestic share. Top-five customer concentration has run between 25.76 and 35.07 per cent across the reporting period.
RMB 2.5 billion of capacity behind a RMB 395 million raise
Late in October the company broke ground on a three-phase micro-precision bearing and humanoid component project with total investment of RMB 2.5 billion. On completion it is designed for 1 billion micro-precision bearings and 1 million humanoid core components a year, with expected annual output value of RMB 2 billion.
For humanoids, Tiejin has developed four-point contact ball bearings and flexible thin-wall bearings for dexterous hands, plus a micro cycloidal reducer already selling in small volumes. It is working on a 16mm cycloidal reducer and a 9mm bore, 3.5mm wide four-point contact bearing.
That is the pattern of this listing cycle. The companies clearing review are not the ones with the best robot demo. They are the ones whose parts go inside every robot someone else demos.