Gem-Year Expects Surplus in 2013 Due to Increasing High-Speed Rails Fastener Sales

Gem-Year Industrial released a report on Jan. 23rd, stating that the final result of the company in 2013 will see the profit gain with the net profit achieving RMB83 million belonging to the shareholders, compared to the loss of RMB11.8075 million in the same period of 2012.

The reasons for the surplus resulted firstly from the reduction of production cost and the increase of gross profit; the second reason was the growth in sales of high-speed rails fasteners; and the final reason was the change of the company’s financial estimation, causing the net profit to add more RMB18 million.