ZXY Reported Financial Results in 2007

On April 11, Xiangyang Automobile Bearing Co.,Ltd (ZXY) released its annual report 2007. The revenue in 2007 rose 43.03 percent to RMB 392,187,894.57 year-on-year. Net profits rose 40.86 percent to RMB 30,483,283.65, compared with that of last year.

The annual report announced, in a whole year of 2007, ZXY had achieved good results with the target of ¡°to become China¡¯s top automobile bearings base¡±and¡°to seek advanced management, high-quality products & large-scale sales¡±.

ZXY mainly focused on the following work: First, taking effective measures to account for more market share. Second, improving products quality & basic management based on TS16949 system; Third, extensively developing domestic & international markets to optimize the market structure step by step; Fourth, accelerating the development of new products; Last, further strengthening brand building. With the endeavour of all staff, ZXY successfully completed its operation targets in 2007.