Northwest Bearing Co., Ltd. released its performance forecast for the first quarter of 2009 on April 11. According to the announcement, the company’s net profit loss for the first quarter was approximately 8.9 million yuan, compared with 7,509,500 yuan in the same period of 2008, a year-on-year decrease of between 200% and 250%.
Northwest Bearing stated that due to the impact of the international financial crisis, the company's market orders in the first quarter of 2009 decreased significantly from the same period of last year, resulting in a decline in sales revenue and a large change in operating performance.
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