Bear Factory

Bear Factory

Xiangyang bearing a slight increase in operating income - TR120 Hydraulic Drilling Rig

2009 report shows that 1-December the Company realized operating income of 492 million total, compared with 0.48% increase over the previous year, achieving operating profit 1,648 million, down 5.26% over the same period; realized a total profit of 2 0.37 million yuan, down 17.69%; to achieve the owner's net profit attributable to parent company 1,335 yuan, up 0.43% over the same period; basic earnings per share were 0.04 yuan; weighted average yield of 2.84% of net assets , up 0.15 percentage point. 2009 annual distribution plan: No allocation does not increase by transferring.
Proactive measures to deal with a crisis in the operating income slightly. Company, mainly engaged in bearing and parts auto parts, electrical equipment, bearing equipment and spare parts production, research and sales business. The face of the negative impact of financial crisis, management should take the initiative, steadily improve the product by the host market share, attach importance to the maintenance market, the demand potential and to consolidate and extend the oversea market demand for the host, actively seeking overseas distributors Deng measures to gradually realize domestic host market, social service and international markets simultaneously increased the "three pillars" of the product market structure. During the reporting period, operating income up by reversing the first three quarters of negative growth situation, a slight increase of 0.48%.
The completion of the strategic restructuring of the company's long-term development for the clearing away the obstacles. Xiangfan City, the SASAC will hsiang 95% stake in Axis Group, free transfer to the tricyclic group, tricyclic Group holds 28.22% stake in a company's actual controller. Special Purpose Vehicle Group is a ring of Hubei Province and auto parts industry leading enterprises, the changes will give full play to market platform tricyclic group, funds platform, R & D platform and management platform resources, the company into the domestic automobile industry, bearing leading enterprises. An area of 1237 mu hsiang-axis industrial park construction has been completed pre-approval, and through the construction of industrial parks, and industry consolidation, striving to 3 years or so output value of one billion yuan.
"Xiangfan Bearing Industry Cluster" project up to the provincial level. August 2009, to Xiang-axis as the core company, "Xiangfan Bearing Industry Cluster" was approved by the Government of Hubei Province to focus on growing industry cluster in Hubei Province. Bearing the approval of industrial clusters not only to support policies for Xiang shaft and capital, but also by high-level government attention, thus the rapid development of Xiang-axis to create a good atmosphere.
Technical transformation project progressed, some contribution to the performance expected in 2010. Products bearing the new equipment wind power project, add a small conical taper bearing factory production line, heat treatment furnace branch network with new projects, forging factory with sets of small cone products inside and outside the project, two roller rolling factory project and other key project has been effective to achieve the goal went into production that year. Car constant velocity universal joint 720 000 copies annually Reconstruction Project Phase II and wheel bearings project two major projects, equipment has begun gradually to the factory, in part to complete the installation.
Large variety of new product development, improve product structure optimization potential. During the reporting period, a total of 213 new products, more than in 2008 nearly 121 new products, sales 60.98 million yuan to complete the annual plan of 120%. New products have bus bridge 61, 51 wind power bearing, wheel bearings 70, bearing 71 commercial vehicles, commercial vehicles bearing other than a substantial increase in new product development, product structure adjustment for the company to lay a solid foundation.
Investment income substantially improve the company profits. During the reporting period, the company by selling shares in other listed companies realized investment gains 2,738.35 million, the company still holds iron, Ping and other shares, still holding 20 shares of Xiangfan City Commercial Bank. In addition, the company's operating income of 6.46 million yuan, mainly from the government's financial subsidies. Net investment income excluding swaps, the company's profit amounted to -505 million.
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Factory??

I think there could be a long line offering or receiving PERKS

Stuffington Bear Factory