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Yin Xing Energy to sell apparatus business, June 1, 2011 Print  E-mail

Ningxia Yin Xing Energy (000862) plans to sell a 30-percent stake in Wuzhong Instruments, an apparatus business, for 97.78 million yuan and will focus more on wind energy production and sales of related equipment, reports Information Times, citing a company filing.

According to its annual report, the company's power energy business had a gross profit margin of 61 percent in 2010. The equipment production business earned net profits of 102 million yuan on revenues of 1.32 billion yuan.

The firm also had a foothold in forging and real estate development business, both of which had little impact on overall performance.

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