Baota Industry Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2019
April 29, 2019 at 03:44 pm
Share
Baota Industry Co., Ltd. announced earnings results for the first quarter ended March 31, 2019. For the first quarter, the company announced sales was CNY 82.865 million compared to CNY 96.146 million a year ago. Operating loss was CNY 19.051 million compared to operating Income of CNY 5.319 million a year ago. Net loss was CNY 20.741 million compared to net income of CNY 6.273 million a year ago. Basic loss per share from continuing operations was CNY 0.03 compared to basic earnings per share from continuing operations of CNY 0.01 a year ago.
Baota Industry Co Ltd is a China-based company principally engaged in the bearing business. The Company operates businesses through two segments. The Machinery Parts Business segment is mainly engaged in the production and sales of bearings and marine electrical appliances. Bearing products are mainly used in petroleum machinery, metallurgical rolling mills, heavy-duty vehicles, rail transportation, railway trucks and other fields. Marine electrical products are mainly used on ships. The Other segmentâs main products and services include degaussing power cabinets and repair services and commercial factoring. The Company mainly conducts its businesses in the domestic market.