Date: 2013-07-31

Xiangyang Automobile Bearing Share Co Releases 2008 Q1 Report

Xiangyang Automobile Bearing Share Co releases the First Quarterly Report on April 18. Till the end of this report period, company's total assets are RMB 739.36 million, decreasing 8.28% comparing with the same period of 2007. The net profits of the first quarter are RMB 11.12 million with the increase of 81.34% comparing to the same period, and EPS is RMB 0.0370, growth of 85.00% compared with the same period of 2007.

Xiangyang Automobile Bearing Share Co., Ltd., formerly known as Xiangyang Bearing Factory, is a manufacturer and exporter of automobile bearings in China. The Company's product portfolio includes bearings, transmission shafts and bearing parts. During the year ended December 31, 2006, the Company obtained approximately 90% of its total revenue from its bearings business. In 2006 the Company distributed its products mainly to central and north of China, which approximately accounted for 51% of the Company's total revenue. As of December 31, 2006, the Company had two major associates. The Company is headquartered in Xiangfan, Hubei Province, the People's Republic of China.

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