1 June 2011,brass bushing Xiangyang bearing operating income 476,399,000 yuan, up 11.94%, but reduced total operating profit, net profit of 2,066,800 yuan, down 74.48%.
plain bearing View from the main business district, Xiangyang bearing performance of foreign markets than the domestic market increased significantly, which plasic bushing foreign market Mould guide plate DU bushing revenue 53,767,800 yuan, up 142.44 percent over last year, the domestic market year on year revenue increase of only 4.02% to 389,916,700 yuan.
According to the announcement revealed that the domestic inflation caused by the production of steel, purchased parts and other raw material prices increased substantially, affecting production costs, while the automotive industry since the April decline in market demand, the company's profitability declined, so the main business Xiangyang Automobile Bearing parts and bearings are in the premise of revenue growth, gross margins declined.
One auto parts in the first half revenues of 44,368.45 million, up 11.75 percent over the previous year, gross profit margin a year earlier but down from 6.47 to 8.04 percent, operating income of 352,944,500 yuan bearings, up 6.83% over the previous year, but gross margin was down 9.64 percentage points to 3.48%. Universal joints, OEM and other main products are cross shaft slightly higher.