Maanshan Fangyuan Slewing Ring 2010 Earnings Up 116%

Resource from: CBCC Likes:3071

Mar 22,2011

March 22 -- Maanshan Fangyuan Slewing Ring (002147), a maker of slewing rings, posted a 116.31 percent year-on-year increase in 2010 net profit to 81.77 million yuan, with earnings per share of 0.35 yuan, reports 163.com, citing a company filing. Revenue rose 56.88 percent to 448 million yuan. The company plans to pay cash dividends of 1.5 yuan (pre-tax) for every 10 shares held. Fangyuan’s radar slewing bearings were approved for use by the military. It is the first radar slewing bearing manufacturer to win the approval of the Chinese armed forces.

(CBCC)

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