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As its 2008 interim report showed, Shandong Binzhou Bohai Piston (600960) achieved operating income of Rmb864mn, an increase of 26.04% yoy; net profit to shareholders of the listed company: Rmb16.1232mn, up 12.44% yoy. In accordance with the total share capital (163 million shares) after the dividend payment, 1H2008 EPS was calculated to be Rmb0.099. Main reasons for net profit growth lower than revenue growth: 1) gross margin declined slightly, down 0.52ppt yoy; 2) non-operating expenses were Rmb7.5707mn higher than non-operating income; 3) asset impairment loss amounted to Rmb11.2552mn, soaring 74.66% yoy.