TYHI Achieved RMB 225.40 Million in Net Orofit In H1 2008

Resource from: CBCC Likes:2924

Aug 25,2008

Taiyuan Heavy Industry Co., Ltd. (TYHI) has announced that the company achieved RMB 225.40 million in net profit during the first half of 2008, a 68.76% increase compared to the corresponding period of 2007. The company reported EPS was RMB 0.6204 and RMB 221.55 million from operation profits during the first half of 2008. Taiyuan Heavy Industry Co., Ltd. is principally engaged in the manufacture and sale of heavy machinery. The Company's main products include cranes, rolling and forging equipment, excavators, train wheels and oil film bearings. During the year ended December 31, 2007, the sale of cranes, rolling and forging equipment, excavators and train wheels contributed approximately 30%, 18%, 16% and 13% of the Company's total revenue, respectively. As of December 31, 2007, the Company had one major subsidiary, which is involved in the production and sale of train wheels and industrial iron wheels. TYHI is the 'sole' high & new technology enterprise in China which can independently designing and manufacturing various modern large type rolling mill serialized Oil Film Bearing. At present time had designed & manufactured Ø160-2000 mm pure dynamic and static-dynamic pressure Oil Film Bearing for more than 100 varieties, many thousands sets (pcs), domestic market possession is 95%, annual production capacity by hundreds of sets (pcs). At present world-wide rolling mill oil film bearing varieties TYHI is the most completed manufacturer, its 'Roll Oil Film Bearing standard" had been acknowledged as National Standard, and the "Taizong" marked ZYC 100-1800 Roll Oil Film Bearing Series Products got the National Quality Product Gold Prize.

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