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Despite a year-on-year decline in net sales by 31.5 percent to 716. 2 million yuan, the company managed to expand its gross profit by 35.3 percent to 333.3 million yuan by slashing sales cost, which was down by 52.1 percent.
Its gross margin soared from 23.6 percent in last Q3 to 46.5 percen t in the third quarter of this year.
Its net operating income went up 29.7 percent on year from 181.0 mi llion yuan to 234.8 million yuan. The company attributed the improved results to the successful strate gic shift to new high-end luxury VEVA brand in Qiao Xing Mobile Commun ication Co., Ltd. (NYSE.QXM), a main subsidiary of the company.
Its basic earnings per share of common shares were 0.49 yuan in Q3, up from 0.33 yuan in the same period of 2007. Enditem
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