Bearing industry profits shrank, and listed companies slumped

According to the China Bearing Industry Association, due to the lack of supporting demand from many domestic host industries, the profit growth of the bearing industry in the first half of the year has significantly slowed down, and the inventory level has risen significantly.

Data show that from January to June, China's bearing industry realized a total profit of 1.45 billion yuan, a decrease of 41.87% compared to the same period of last year, and bearing inventory also increased from 4.70 billion yuan in the same period last year to 5.23 billion yuan, an increase of 11.30%.

The monthly production report of the major manufacturing enterprises of the bearing industry shows that in the first half of this year, 104 companies participating in the statistics of the bearing industry in China produced a total of 2.11 billion sets of bearings, a year-on-year increase of 4.76%; sales volume was 1.95 billion sets, a year-on-year decrease of 2.89%. Although output has increased, output value has declined. In the first half of the year, the total industrial output value was 28.31 billion yuan, a year-on-year decrease of 6.97%.

The industry believes that although the growth rate of profit growth in the first half of the year has significantly declined, the relevant data basically meets the management's expectations. According to the association’s estimates, in 2012, the main business income of the bearing industry will reach about 158 ​​billion yuan, an increase of about 11%, and bearing production will reach about 21 billion sets, an increase of about 16%.