no matter how the production capacity will continue to vote for

In fact, the first half of Xiangyang bearing has been losing money, which report shows that first-half operating income of 42.9388 million yuan, down 9.88%, net profit -766.35 million yuan, down 470.8%.
The face of loss, Xiangyang bearing Board explained that "by the international and domestic climate and slower growth in the automotive industry as well as corporate investment in upgrading and relocation costs increased, the international market demand, China's economic growth rate has been greatly affected, the economic trend is clearly downward , the automotive industry has entered a period of slow growth. "
However, Xiangyang backing bearings side explained that the automobile industry has entered a period of slow growth, but for the other side to raise funds set by the reinvestment of their behavior difficult to understand.
"In fact, well understood, Xiangyang bearing the actual control of State-owned Assets Supervision and Administration Commission of Hubei Province, belonging to local SASAC. Generally, local SASAC has the urge to expand investment, do not consider factors such as overcapacity As long as the stimulating the local economy, no matter what industry, no matter how the production capacity will continue to vote for. "an unnamed private equity source said.
"The government's investment decisions are to undergo a rigorous argument, we will not comment on listed companies." Said Xiangyang bearing Securities Affairs Department said."To raise funds unchanged, so the number of shares corresponding increase in the provincial government five-year plan for the company is still pretty high, large shareholders are also optimistic about the company for the future, and said that given the attention and support this growth, so try to support the following companies . "the Xiangyang bearing Securities Department said.