XAB Expect An Optimistic Fiscal Result in 2006

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Oct 20,2006

XAB Expect An Optimistic Fiscal Result in 2006 Recently, Xiangyang Automobile Bearing Co.,Ltd(XAB) has expected a net profit between RMB18 and 20 million in 2006, a rise of 207-242 percent from the corresponding period last year; EPS will be kept at 0.06 to 0.066 yuan, 42.86 to 57.14 percent higher than the value of last year. During the second half last year, XAB's business suffered considerably from the unfavourable market factors, which lead to great loss. Now the previous negative factors have been overcome, the company are able to operate in a normal way in the second half this year. Additionally, by taking equity division reform in July, XAB have basically solved the fiscal problem troubled them for a long time. Improvement in both internal and external environment result in XAB's optimistic business performance in 2006.

(cbcc-yinx)

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