TMB Recovers This Year & Wind power Bearing Slows down

Resource from: CBCC Likes:2898

Apr 08,2010

The performance of Zhejiang Tianma Bearing Co., Ltd. (TMB) kept in balance in 2009 on a year-on-year basis. In 2009, the company has accomplished the income of 3.262 billion RMB, which increased 2.72% on a year-on-year basis; implemented the net profit of 554 million RMB that belongs to the shareholders of the listed company, which increased 6.98% on a year-on-year basis; and the regular dividend was 0. 94RMB per share. The sales of general bearings and railway bearings in 2009 obviously decreased; this year the sales recovered as the economic development. Influenced by the economic recession, the sale of the general bearings of the company has decreased more than 15% and the price decreased, either. It is predicted that this year the general bearings will increase about 25% as the economic development. Last year, the public bidding inviting of the Ministry of Railway for railway wagons decreased obviously, which made the income of railway bearings decrease 50%. This year, the pulic bidding inviting of the Ministry of Railway is predicted to exceed that in 2008. Therefore, the demand of the railway bearings of the company will recover and reach the same level in 2008. The company has introduced a full automatic production line last year, of which the efficiency and quality was improved. It is predicted that this year the sale of railway bearings will increase 50% and above. Wind power bearing was the main source of the increased sale of the company last year, while this year the sale of wind power bearings slows down. Last year the price of wind power bearing decreased 15% and the gross profit margin decreased obviously compared with that in 2008, while it was still close to 50%. It is predicted that it will decrease to 40% after two years.

(CBCC)

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