China Jiangsu Golden Horse Steel Ball Comments on Its Industry
Resource from: CBCC Likes:2942
May 19,2008
China Jiangsu Golden Horse Steel Ball, Inc., a leading Chinese manufacturer and supplier of ball bearings, is pleased with the direction of the Ball Bearing Industry.
The ball bearing industry is maturing in China, with the fast development of China's bearing industry, the supply and demand, both locally and globally, has risen exponentially. At present, China Jiangsu can produce ball bearings in various different compounds of any specification for all applications in different industries.
The engineering team at China Jiangsu continues to aggressively improve its technology and know-how in order to become a leader in the research and development of high quality ball bearings. As previously announced, three programs are slated for 2008 and will include the research of G3 grade high-precision steel balls, the research of new resin grinding wheel milling techniques, and the development of automotive bearing steel wire. In the 11th five-year plan, the Chinese government made the strategic policy decision of revitalizing China's equipment manufacturing industry especially devoting energetic efforts to develop 16 crucial fields. Under such situation, the demand for high precision and high reliability bearings is enormous, which will promote the further development of the bearing industry and also its import and export trade.
2006 was China's first year of the 11th five-year plan. The sales revenue of China's bearing industry reached 62 billion yuan RMB, up by 19.23%. Meanwhile, bearings export value increased 14.65% to 1.648 billion US dollars and import value rose 24.85% to 1.698 billion US dollars.
The company is currently positioned to take advantage of this high demand for bearings, and expects to capitalize on the world's current rapid rise in steel prices. The company expects to generate an increase in revenues for 2008, due to global demands of the products currently manufactured.
About Us:
Golden Horse along with its affiliates and controlled entities is one of the top five manufacturers of steel ball bearings in China. The Company produces over three billion ball bearings annually of various specifications along with its development of over 15 new products, such as stainless steel balls, aluminum balls, and ceramics balls. In addition, the Company continues to export its products to over twenty countries worldwide including the USA, Japan, Brazil, India, and Germany.
Forward-looking Statements:
The information contained herein includes forward-looking statements. These statements relate to future events or to our future anticipated financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We do not intend to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.
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【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
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