Date: 2013-07-31

Longxi Bearing(LS) 2005 Report

Fujian Longxi Bearing Group Co.,Ltd(LS) reported their 2005 financial results. Sales increased by 45.03% to 1.462 billion yuan; net profit increased by 36.90% to 256.58 million yuan; EPS hit 0.461 yuan.

In last year, LS stressed developing new products, exploiting potential market. As a result, sales of their spherical plain bearings increased by 25.84%. In addition, they have reached great achievements in developing overseas market. Now LS bearings have been delivered to almost every corner of the world, like US, India, Japan, Russia etc.

Also in 2005, LS entered the gear processing industry by acquiring Fujian Sanming Gear Box Co.,Ltd. This change helped LS form the more competitive industrial pattern that focusing on spherical plain bearings' production while engaging in other machine parts' processing. After this acquisition, Sanming Gear Box made profit 19 million yuan, being an other source of economic growth.

Fujian Longxi Bearing Group Co.,Ltd

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