Date: 2013-07-31

The Profit for Xiangyang Automobile Bearing Co., Ltd (ZXY) Attaining a year-on-year fall of 69% in the first half of this year

Xiangyang Automobile Bearing Co., Ltd released the semi-annual report in the evening of July 8, the company made profit of 2.55 million yuan in the first half of this year, dropped about 69% compared with the same period of last year. And the reason mainly due to the sharp rise of the price for the raw material of steel and the bought-in components, in the meanwhile, the demand for automobile industry market gradually declined, the main operating profit also relatively decreased.

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