Xibei Bearing Report Financial Results for The First Half 2009

Resource from: CBCC Likes:2944

Aug 24,2009

Xibei Bearing Report Financial Results for The first Half 2009 on 20th Augest. Operating revenue for the first half of 2009 were RMB 117.43 million, a decrease of 52.79%. Negative operating income was RMB 21.4569 million, down 31.04% when comparing to the same period of the prior year. The company reported a net loss for the first six months of 2009 was RMB 15.904 million, a decrease of 62.30% year-on-year. The loss in profit was attributable to: 1. The operating revenue down 52.79％ 2. The nonoperating revenue down 10.28％ 3. Sales Costs up 29.29％ Xibei Bearing Co., Ltd. is principally engaged in the manufacture and distribution of various rolling bearings, under the brand name of NXZ. The Company provides over 3,000 types of bearings under nine series. The Company distributes its products in the domestic market and the overseas markets, including Asia, Europe and the Americas.

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