As an important part of modern machinery and equipment, bearings are widely used in industrial automation, high-end equipment, robotics, automobile manufacturing and other fields. In recent years, the global economy has been affected by the epidemic, resulting in a depression in the global economy, and China's bearing industry is also facing challenges at both ends of supply and demand. In the face of the global economic impact, Z&W has taken a number of strategic initiatives to support and promote the development of China's bearing manufacturing industry.

These initiatives cover many aspects such as technological innovation, production efficiency improvement, market expansion, environmental protection and social responsibility, and are designed to help China's bearing industry meet current challenges and promote its long-term development. On the supply side, according to data, China's bearing industry output in 2021 was 18 billion sets, down 9.2% year-on-year. In 2022, affected by the global economic depression, industry production continued to decline, and the output of China's bearing industry in the first half of 2022 was about 2.2 billion sets, down 6.8% year-on-year.

2017-2022 China bearing industry output and year-on-year growth In the demand side, China's bearing market demand has slowed down, and operating efficiency has also declined. In 2019, the operating income of China's bearing manufacturing industry was 170 billion yuan, down 5.2% year-on-year. In 2022, the industry's operating income continued to decline, and the main business income of China's bearing manufacturing industry was 40 billion yuan in the first half of the year, down 5.7% year-on-year. At the same time, affected by the impact of Sino-US trade friction and the epidemic, the export market of China's bearing industry is also facing difficulties. Data show that from January to August 2022, China's bearing exports were 340,000 tons, down 39.2% year-on-year; Exports amounted to $2 billion, down 17.5% year-on-year. In such a market environment, Z&W actively takes measures to help the development of China's bearing manufacturing industry. In the face of the global economic depression and the challenges brought by the epidemic, Z&W has taken a series of active measures to support the development of China's bearing manufacturing industry.

These measures mainly include: technological innovation and product upgrading: Z&W focuses on research and development to promote technological innovation and improve the performance and reliability of bearing products. By introducing and developing more efficient and durable bearing solutions, Z&W strives to meet the market demand for high-end, precision bearings. Improve production efficiency and quality control: Z&W optimizes its production processes and adopts advanced manufacturing technology and automation equipment to increase production efficiency. At the same time, the company strengthens quality management to ensure stable product quality and meet strict international standards. Market expansion and Service network construction: To better serve the Chinese market, Z&W has expanded its sales and service network in China. The company not only strengthened its direct contact with customers in China, but also improved its speed of response to customer needs and service quality by establishing more service centers and distribution networks.

Environmental protection and green development: Z&W focuses on environmental protection and sustainable development in its production and operations. The company takes measures to reduce waste and energy consumption, and strives to achieve green production process and emission reduction. Social Responsibility and public welfare activities: Z&W actively participates in social responsibility projects and public welfare activities to demonstrate corporate social responsibility. Strengthen international cooperation and exchange: Z&W strengthens cooperation and technical exchange with domestic and foreign industry partners, and improves the overall competitiveness of the company by introducing international advanced technology management and experience.