Northeast Electrical Transmission & Transformation Machinery Manufacturing expects to maintain its gross profit margin and turnover of more than 1.56 billion yuan (about HK$1.45 billion) this year.
Chairman Xiang Yongchun said the company had already secured sales orders worth 1.2 billion yuan, or about 70 per cent of its full-year sales target. Last year's sales turnover was 1.56 billion yuan.
Net profit edged up only 0.3 per cent to 84.02 million yuan last year, despite a 15 per cent surge in turnover. Sales of new products reached 557.9 million yuan, or 36 per cent of the total.
Gross profit margin fell from 30 per cent to 27 per cent last year, mainly attributable to a cut in product prices.
Prices for several major products were cut 6-7 per cent.
Mr Xiang said the company would continue to hold about a 40 per cent market share this year.