FLBGC--Leading Manufacturer of Spherical Plain Bearing in China

Resource from: cbcc-yinx Likes:2943

Nov 11,2005

Fujian Longxi Bearing Group Co.,Ltd(FLBGC) is the leading manufacturer of spherical plain bearings(sp bearing), accounting for 60% and 8% of the sp bearing's market in China and in world respectively. For the time being, numbers of enterprises engaged in manufacturing sp bearings are very limited. To the large company, that's less profitable a market to enter and to those small ones who are well know for their price competition, technological requirements become the obstacles that stop them. So the sp bearings market are tend to be the exclusive market of the few numbers of sb bearing maufacturers. FLBGC is one of these manufacturers in China, who have developed into a semimonopoly in the market. Their profitability keep at 40%, more higher than other insiders. With the price slide in steel industry, production cost of FLBGC has become much more lower than before, putting its profitability become stronger. By the end of this year, the company's net profit will increase by 50percent from last year. Due to the increasing demand for engineering machines in 2006, their sale of relevant bearings will up by about 15% in next year. Their current earning per share was 0.52yuan, P/E Ratio 16.3, a figure lower than other A-share companies.

(cbcc-yinx)

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