News 

After China’s Gem-Year Industrial reported that it won the bid in the supply of fasteners used on the railway from Xi’an to Chengdu at the total contract value of RMB0.253 billion in Aug. 2014, the sales of the company was then in a sharp increase. In the first half of 2014, the total operation income reached RMB1.66 billion, up 42.2% from the corresponding period last year (net profit: RMB94.85 million (it was only RMB2.7472 million in last corresponding period)). Sales continued to grow with improving quality of products. The gross margin of its main fastener business hiked to 31.5%, up 13.3% from last corresponding period.

Three major business sectors of Gem-Year include: fasteners, intelligent warehousing facilities, and logistics. The downstream businesses are usually for railway applications and the fastener business represents over 95% sales of the company.