Luoyang Bearing Science & Technology Co. Releases 2008 H1 Report

Resource from: CBCC Likes:2915

Aug 11,2008

Luoyang Bearing Science & Technology Co. has announced that the company achieved RMB 17.50 million in net profit during the first half of 2008, a 1.49% decrease compared to the corresponding period of 2007. The company reported EPS was RMB 0.18 and RMB 21.13 million from operation profits during the first half of 2008. Luoyang Bearing Science and Technology Co., Ltd. (Bearing-Sci&Tech) is a China-based bearing manufacturer. The Company is principally engaged in the research, development, manufacture and sale of bearings, electric spindles, as well as bearing processing equipment and measuring instruments and related products. The Company's major products include special bearings, precision machine tool bearings, electric spindles, grinding and superfinishing automatic production lines, as well as precision cold rollers. During the year ended December 31, 2007, the Company obtained approximately 61% and 11% of its total revenue from its bearing and technical businesses, respectively. The Company distributes its products within the domestic market and to overseas markets. As of December 31, 2007, the Company had one major subsidiary / associate.

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