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TBEA sees 20.65% down in H1 profit

Jul. 27, 2012 (China Knowledge) - TBEA Co Ltd<600089>, a China-based company engaged in manufacture and distribution of electric power transmission and transformation equipment, announced its net profit attributable to shareholders declined 20.65% YoY to RMB 546.99 million in the first half of this year.

The company said the decline in net profit was mainly due to the huge decrease in the price of photovoltaic products, the swings in raw material price and large exchange rate fluctuations.

Basic earnings per share for the six-month period were RMB 0.21, while it realized RMB 0.26 in the corresponding period of 2011.

From Jan to Jun 2012, the company saw its operation revenue increased 19.89% from a year earlier to RMB 9.83 billion.

The operating revenue from domestic market grew 38.02% YoY to RMB 8.14 billion and its foreign market hit RMB 1.53 billion, down 28.19% than a year earlier.

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