Date: 2013-07-31

LYC Reports Good Results in Production and Sales

With the efforts of all the staff members, LYC created the best achievements in all kinds of targets of production and sales year-on-year for the first two months of 2008, which was a good beginning for them.

For the first two months of this year, Luoyang LYC Bearings Company overcame many difficulties including raw materials with a rising price, shortage of power supply, terrible traffics, etc. They have achieved more orders through further reforms, innovation and sales system reconstruction. The output and other main targets have been further enhanced year-on-year.

The bearing output for the first two months of LYC hit 4.86 million sets, up 13% over the same period a year ago. Production value increased 36% year-on year to RMB 304 million. Accumulative total industrial adding value reached RMB 88.55 million, an increase of 49%. The sales were up to RMB 390 million, 78% higher over the prior-year period. The total profit was reported to be RMB 7.4 million. In a word, LYC achieved a good result at the beginning of the year 2008.

According to the operation of the first two months, the sales of LYC are forecasted to remain growing in the next months. The bearing output is anticipated to be 7.42 million sets for the first quarter, and the production value is expected to hit RMB 460 million. The sales and profit are expected to reach 595 million and RMB 10.6 million respectively.

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