Significant increase in operating income benefited from Xiangyang bearing turn losses into profits

By the automotive industry downturn factors, Xiangyang bearing (000678.SZ) 2013 although turn losses into profits in the first half, but it was mainly contributed by the non-operating income 13,739,000 yuan.

August 13 evening, Xiangyang bearing released semi-annual report, the first half of 2013 the company achieved operating income of 407 million yuan, down 5.26%; attributable to shareholders of listed companies net profit of 1,561,300 yuan, an increase of 121.55%.

Where the surge in operating income during the first half turn losses into profits of the company's main reason. Semi-annual report shows that first-half operating profit -1234.61 million yuan, down 52.98%; while non-operating income, operating expenses were 13,739,000, 272,600 yuan, the corresponding net operating income amounted to 13,466,400 million, representing an increase of 3261.91% over the same period last year.

Show details of subjects, Xiangyang bearing current operating income increase, mainly from government grants projects current company received financial subsidies 13,500,000 yuan, while a year earlier incurred amounted to 408,600 yuan.

For the main business reasons for the decline, Xiangyang bearing that Overall, domestic tightening macroeconomic situation, the automotive industry slowdown, companies in the industrial park construction, purchase of assets, production and operation costs and capital costs, companies face relatively tough operating challenges.