On 19 Jul 2008, the company announced that in 1H 2008, its operating revenue increased by 28.63% YOY from RMB 676 mln to RMB 870 mln, and its net profit increased by 33.27% YOY from RMB 28.55 mln to RMB 38.05 mln.

It has announced that due to a business expansion, the company's operational costs increased by 26.98% YOY from RMB 530 mln to RMB 674 mln, its costs of sales surged by 34.08% YOY to RMB 61.4 mln, and its management costs grew by 35.55% to RMB 54.24 mln. Meanwhile, as a result of tightened monetary policies and business expansion, its financial costs skyrocketed by 65.73% to RMB 28.8 mln.

In addition, as Nanchan ABB Tell-how Generator Co., Ltd., a jointly-managed subsidiary of the company, is still in the initial stages of research and development, its investment income (loss) has declined by 150.03% to RMB (4.9) mln from the previous RMB (1.96) mln.


Source: Securities News

Date: 19 Jul 2008

CN01/BG/MZ/BT/KM