Wanxiang Qianchao Report First-half Results

Resource from: cbcc-yinx Likes:2926

Aug 16,2006

Wanxiang Qianchao Report First-half Results Wanxiang Qianchao Stock Co.,Ltd reported a strong result in the first-half. Income of main business were RMB1.694 billion, increased by 12.94% year-on-year; profit of main business hit RMB315.587 million, 11.24% higher than last year; net profit reached RMB75.098 million, grew by 6.94%. In their product mix, proportion of auto parts rose rapidly by 20.90%. Income of auto parts increased to RMB2.324 billion. Gross profit of bearing and transmission system were slightly dropped. Gross profit of chassis products were increased modestly by 0.4%. Geographically, sales were concentrated in Middle-east China, reaching RMB1.715 billion, increased by 6.58%; in northwest China, sales were only RMB63.15 million, but growth rate hit 1219.16%. Besides, there were also substantial sales increase in middle and middle-south China.

(cbcc-yinx)

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