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Shandong Binzhou Bohai Piston Co., Ltd. FY2011
Business Highlights
Financial overview |
(in million yuan) |
| FY2011 | FY2010 | Rate of increase (decrease) | Factors | |
| Sales | 1,823.87 | 1,767.51 | 3.19% | - Influenced by macro-control of the State in 2011 and the withdrawal of encouragement policies of automobile consumption. |
| Operating profit | 116.03 | 168.58 | (31.17%) |
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| Ordinary profit | 118.16 | 148.94 | (20.67%) | |
| Net profit | 100.57 | 122.25 | (17.73%) |
Divestitures
- The Company has decided that it will discontinue production at Changchun Bohai Piston Co., Ltd., its wholly owned subsidiary, and dispose of its assets. The decision was made based on changes in the market situations and the company's new business plans. (From an announcement by the company, March 7, 2011)
R&D
R&D facility
- The Company owns a national level technical center for developing pistons.
- In 2011, the Copmany developed and engineered 40 high performance pistons.
Investment Activities
Capital Investment Projects for FY2011 |
(in million yuan) |
| Project | Planned amount of investment | Investment made in 2011 | Actual Spending by 2011 as a percent of planned amount of investment |
| Retooling automatic production lines | 165.00 | 37.02 | 100% |
| Improving technology for 8 million pistons for low-emission passenger vehicles | 279.87 | 24.68 | 20% |
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