LYC To Report Higher Sales In The First Eight Months

Resource from: CBCC Likes:3001

Nov 23,2005

In accordance with the development strategy, LYC focused on quality improvement, specification diversity and cost reduction, aiming at shifting its operation mode form extensive economy to intensive economy and achieving a sustainable and rapid development, which resulted in the return of all economic indicators to the ever highest level in company record as investment, output, production value and sales. The sales in the first eight months hit RMB 730million and sales/output ratio reached 95.04%. Ratio of paying in cash was nearly 75.3%. The profit was up to RMB 5million. Annual productivity reached RMB32, 000 per capita. Defect/qualify ratio was 0.33%. Liquidity ratio was 1.56. Overall economic efficiency of the first seven months rose to 85%. The production value in the first eight months increased 23％ year-on-year and ranked the six place in bearing industry. The sales of the first seven months ranked the five place among all domestic bearing companies. Currently, an inspiring activity is being held in LYC with the theme of “upgrading the basic management, realizing the fuller potential and improving the productivity”. LYC expects even stronger results in the rest months and in 2006.

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