August 18 — Gem-Year Industrial forecasts its net profit will drop 50 percent year-on-year in the first three quarters of 2011 due to uncertainties in the high-speed railway parts market reports yicai.com.
In an interim report Gem-Year said high-speed train accidents happen frequently and have affected related parts biddings and existing contracts settlements.
The company’s net profit fell 12.05 percent to 105 million yuan in the first half despite 21.16 percent revenue growth to 1.54 billion yuan. General fastening pieces revenue rose […]
via Gem-Year Cuts Profit Forecast by 50% for first three quarters.