Xiangyang Automobile Bearing Share Co Releases Q3 Report

Resource from: CBCC Likes:2925

Oct 15,2008

Xiangyang Automobile Bearing Share Co releases the Third Quarterly Report on October 14. Till the end of this report period, company's total assets are RMB 827.01 million, increasing 2.59% comparing with the same period of 2007. The net profits of the third quarter are RMB -1.00 million. The first nine months' net profits totaled RMB 16.51 million. Xiangyang Automobile Bearing Company., Ltd is principally engaged in the manufacture, research and sale of automobile bearings and bearing parts, electromechanical devices, as well as bearing equipment and spare parts. The Company offers bearings, gimbals and original equipment manufacturing (OEM) products. During the year ended December 31, 2007, the Company obtained approximately 89% of its total revenue from bearings industry. In 2007 the Company distributed its products mainly to central and south of China, which approximately accounted for 42% of the Company's total revenue. As of December 31, 2007, the Company had two major associates.

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