Zhongyuan Special Steel Medium-term net profit 47.43 million yuan down nearly 40%

Zhongyuan Special Steel (002423) Thursday late release of the report, 2010 1-June Company to achieve a net profit of 47.4294 million yuan, the year-on-year decline of 38.91%.　　The first half of the company's operating income was 662 million, down 18.98% year-on-year, earnings per share of 0.12 yuan, the year-on-year decline of 40%. The company said that due to the changes in the external market demand, industrial special equipment category deep-processing, high value-added business products accounted for the decline in the large special steel forgings category of relatively low gross profit ratio of products increased. Structural changes in products have affected income.　　In the government subsidy, the three-tier corporate tax rebate decreased by 28.2696 million yuan a year earlier, which reduced the income of outside business and also affected net profit. Company wholly-owned subsidiary of Henan Xinghua Machinery Manufacturing Co., Ltd. timing to the holding of 31 of the heavy industry shares to transfer, the transfer of such an act in the three quarter of this year will have a greater impact on the current investment income, so the company is expected 2010 1-September net profit growth of 30% to 50%,　　Net profit for the same period last year was 65 million yuan. Zhongyuan Special steel Thursday closed to 9.10 yuan, rose 2.02%.