Date: 2013-07-31

Xiangyang Automobile Bearing Co., Ltd. may Lose 330,000 RMB in Q1 due to the Rising Cost

Xiangyang Automobile Bearing Co., Ltd. (000678) announced on Thursday (April 7) that the net profit of the company in the first quarter is expeced to reach -330, 000 RMB with the earnings of -0.001 RMB per share, however, the profit was 6.2202 million yuan with the earnings of 0.021 yuan per share during the same period of last year.

The relevant responsible person in the company said that the total profit for Xiangyang Automobile Bearing Co., Ltd. in the first quarter has significantly declined as for the continuous rising on manufacuturing cost, operating expenses and also financial expenses, which was effected by the price increasing of the market raw material steel and other spare parts.

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