Kunming Machine Tool Turns into Profit in 2013

Kunming Machine Tool disclosed its annual report on Friday night. The company successfully turned losses into profit last year and achieved a net profit of RMB 7,440,200; after deducting non-recurring gains and losses, the actual loss was RMB 25,092,200, a significant year-on-year decrease.

In 2013, the company achieved operating income of 1.063 billion yuan, a year-on-year decrease of 2.16%. Earnings per share of 0.014 yuan.

During the reporting period, affected by the decline of the macro economy and the shrinking demand of the machine tool industry, the sales of machine tools were hit hard. The sales revenue of the company’s machine tools only increased slightly compared to 2012, but the energy-saving centrifugal compressor business of Xi’an Seier, a subsidiary company, was relatively low. In 2012, the company’s operating income dropped slightly. Due to its relatively small revenue, the company’s operating income declined only slightly.

In 2014, Kunming Machine Tool plans to achieve operating goals of RMB 1.25 billion in operating income and RMB 6.73 million in net profit.