News Column

Chongqing Machinery and Electric H1 Net Down 14% to CNY192mn

August 22, 2014

CHONGQING, August 22, SinoCast -- Chongqing Machinery and Electric (SEHK: 2722) reported profit attributable to shareholders of CNY 192 million for the first half of 2014, down 14.1% from a year ago. Basic EPS was CNY 0.05. Turnover fell 0.3% to about CNY 4.84 billion. Gross profit dropped 4.1% to CNY 502 million, with gross margin of about 10.4%.

Turnover from auto parts and components, digital machine tools, and trading each fell about 11.8%, 20.1% and 10.5% to CNY 524 million, CNY 415 million and about CNY 1.23 billion. That from electric power equipment and general machinery businesses each rose 13.8% and 6.1% to about CNY 1.94 billion and CNY 692 million.

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Source: Sinocast Machinery & Industrial Goods Beat (China)

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