World Bearing News

NXZ To Cover Deficit With Reserve Fund

Resource from: 05 Dec,2005

The board members of Xibei Bearing Co., Ltd (NXZ) have reached an agreement on covering the deficit with reserve fund at the fifth board meeting. It is released that the accumulated deficit had hit RMB64.92 million ended Oct.31. RMB5.2 million of surplus reserve and RMB244.85 million of capital reserve will be utilized to cover the deficit.

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