Fujian Longxi Bearing Group Co.,Ltd Records 30.00% Increase in Net Profit in 2008 H1

Resource from: CBCC Likes:2938

Aug 07,2008

Fujian Longxi Bearing (Group) Co., Ltd has announced that the company achieved RMB 58.58 million in net profit during the first half of 2008, a 30.00% increase compared to the corresponding period of 2007. The company reported EPS was RMB 0.203 and RMB 78.15 million from operation profits during the first half of 2008. Fujian Longxi Bearing (Group) Co., Ltd is principally engaged in the development, production and sale of special bearings and automobile parts. The Company mainly provides spherical plain bearings, composite material bearings, tapered and cylinder roller bearings, argentum (AG) bearings, gears, gear cases, automobile power steering gears and other automobile parts. During the year ended December 31, 2007, the Company obtained approximately 75% and 20% of its total revenue from bearings, as well as gears and gear cases, respectively. The Company distributes its products within the domestic market and to overseas markets. The Company is headquartered in Zhangzhou, Fujian Province, China.

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