Financial Overview

	FY2008	FY2007	Increases (%)	Factors
Sales	3,475.57	3,323.97	4.6%	- Sales increased from the previous year as a result of the Company's having developed new products, realigned its products array, and strengthened marketing activities.
Operating profit	187.80	47.55	295.0%	- Operating profit largely increased due to the Company's cost cutting initiatives including reduction of inventory levels.
Ordinary profit	189.94	48.65	290.4%	- Both ordinary profit and net profit sharply rose because of an increase in non-operating profit.
Net profit	189.52	47.98	295.0%

Change of company name
- In October 2008, the Company announced that it will adopt a new corporate name, Changchun FAWAY Automobile Components Co., Ltd. (From an announcement by the company on October 23, 2008)


Transferring production to Changhcun Economic and Technological Development Zone
Changchun Fawer-Johnson Controls Automotive Systems Co., Ltd. will integrate all its various operations located around the country into its new facility in the Changhcun Economic and Technological Development Zone. The company has already finished transferring its existing facilities in several locations to the new, 56,000-square-meter facility that was built on 85,000 square meters of land. Production, research, development, and administrative functions will all be housed in the new facility.

R&D facilities

Name	Company
Wheel R&D Center	Changchun Faway Automobile Components Co., Ltd. Wheel Company
Fawer-Johnson Technical Center	Changchun Fawer-Johnson Controls Automotive Systems Co., Ltd.

New product development for OEMs (FY2008)
- The Company completed developing seats, interior components, and filters for the FAW-VW Model X.
- The Company is developing interior components for the FAW Car A130
- The Company is developing 25 product items including seats, bumpers, wheels, and filters for the FAW Car Besturn C301

Other new product development (FY2008)
- The Company developed airbag systems built into the instrument panels. These airbags use thermo plastic olefin (TPO).
- The Company developed high-strength seat frames available at low-cost.