Founded in 1985, Cixing Group Co., Ltd. has spent over four decades deeply cultivating the field of precision transmission. Having started as a small-scale bearing workshop, the company is now leveraging the capital market to bring its core technologies and industrialization capabilities—honed through years of precision manufacturing—onto a much broader stage.
Its predecessor was the Cixi County Miniature Bearing Factory. Through more than four decades of iterative development, Cixing Group has successfully executed a strategic upgrade—transitioning from traditional, low-end bearing products to high-end, precision components. The Group has long focused on the R&D, manufacturing, and sales of precision ball bearings and ball screws. Its core offerings include small and miniature bearings for automotive applications, as well as ball screws for automotive steering and braking systems—products that are widely utilized in sectors such as the automotive industry and high-end home appliances. Cixing Group stands as one of the few domestic suppliers capable of both the concurrent R&D and mass production of high-end automotive bearings and components.
The most significant strategic move by Cixing Group over the past two years has been the expansion of its industrial footprint via the capital market. In December 2025, Cixing Group—through its wholly-owned subsidiary, Anhui Xianrui Investment Holding Co., Ltd.—acquired a 19.95% stake in Tianchuang Fashion for 628 million yuan, becoming the controlling shareholder of the publicly listed company. Hu Xiangen, the 80-year-old founder of Cixing Group, formally took the helm at Tianchuang Fashion. At the time, the market widely interpreted this move as a key step in Cixing Group’s pursuit of capital market operations. The subsequent decision by Tianchuang Fashion to invest 400 million yuan in Xunwei Precision has further clarified this strategic intent: to integrate Cixing Group’s core assets—specifically those related to automotive ball screws—into the publicly listed platform.
Founded in 2013, Xunwei Precision serves as the core platform for the industrialization of automotive ball screws within the Cixing Group. The company has long focused on the R&D, manufacturing, and sales of precision ball screws for automotive applications, with its products widely integrated into critical vehicle systems such as steering, braking, and parking. Following extensive R&D iterations and process optimizations, Xunwei Precision achieved large-scale mass production and commercial supply of its ball screws in 2017, making it one of the few domestic enterprises capable of supplying high volumes of ball screws for automotive steering systems. According to the announcement, this transaction is based on a pre-money valuation of 900 million RMB for Xunwei Precision. The Cixing Group has provided a performance commitment, guaranteeing that Xunwei Precision’s audited net profit will be no less than 55.7 million RMB, 69.2 million RMB, and 85.5 million RMB for the years 2026, 2027, and 2028, respectively—amounting to a cumulative total of at least 210.4 million RMB over the three-year period. Should these targets not be met, the Cixing Group is obligated to provide cash compensation in accordance with the agreement.
The strategic significance of Cixing Group’s latest move also lies in its precise grasp of industry trends. As the automotive sector accelerates toward intelligence and electrification, technologies such as steer-by-wire and brake-by-wire systems continue to evolve. Automotive ball screws—a core component of drive-by-wire chassis systems—have become an essential requirement for automakers’ technological upgrades. With the scope for domestic substitution steadily expanding, this sector is experiencing sustained, robust growth. Xunwei Precision, which serves as Cixing Group’s platform for the industrialization of automotive ball screws, has established a significant first-mover advantage in domestic production and currently holds a substantial market share in the Chinese automotive precision ball screw sector. Through this transaction, Tianchuang Fashion gains entry into this high-growth market, while Cixing Group successfully connects its core assets with the capital market.
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