Company Profile For Chongqing Machinery & Electric Co., Ltd.

Chongqing Machinery & Electric Co., Ltd. (2722.HK) (Hong Kong Stock)

sector: Industrials · industry: Heavy Electrical Equipment ·

As of 24 Nov 2009

1.70HKD

Price Change

+0.05

Percent Change

+3.03%

Analyst Recommendations

Overview

Chongqing Machinery & Electric Co., Ltd. and its subsidiaries are engaged in manufacturing and sales of commercial vehicle parts and components, general machinery, machinery tools and power equipment. The Company operates in four segments: commercial vehicle parts and components; power equipment, general machinery, and CNC machine tools. The Company’s general machinery segment includes high-end industrial pumps and refrigeration equipments used in nuclear industry. Its power equipment business projects include commercialization impact-type wheel CNC machine-shaping technology, 800kilo volt or above ultra-high voltage transformer and high-voltage electrical ceramics. In February 2009, the Company acquired the remaining 51% equity interests of both Qijiang Gear Transmission Co., Ltd. and Qijiang Qi-Chi Forging Co., Ltd.

Quick Financial Synopsis

BRIEF: For the six months ended 30 June 2009, Chongquing Machinery & Electric Co., Ltd.'s revenue decreased 11% to RMB2.8B. Net income decreased 21% to RMB215.4M. Revenue reflects decreased income from Hydroelectric generation equipment segments, lower sales from Engine segment, a decrease in General machinery segment and a fall in sales from Machinery tools segment. Net income was partially offset by an increasing in selling & marketing expense.