Gem-Year reported revenue for 2011 was 2.70 billion RMB, up 10.62% over a year ago.The company noted that after a high rise in 2010, its revenue saw an obvious decrease due to the slowdown of high-speed rail building for the traffic disaster happened on July 23, 2011 and the frequent accidences occur on the Jin-Hu railway. Its revenue began to decline in the second quarter in 2011.The report also showed that sales of general fasteners increased 13.04% to 844 million RMB and high-speed rail fasteners plunged 53.19% to 640 million RMB. (…)
