Shanghai Aerospace Automobile Electromechanical Co., Ltd. Highlights 2006:
Business Highlights
Performance
for FY2006 (million yuan)
■New subsidiary
- In January, 2006, the Company established Shanghai Kang Ba Si Te Technology Development Co., Ltd., a wholly owned subsidiary to manufacture clean energy products such as automotive CNG tanks and LPG tanks.
■Stock transfer
- In April 2006, Shanghai Automobile Air-conditioner Factory sold the 20.85 percent equity share it held in Tianjin Denso Air-Conditioner Co., Ltd. to Denso (China) Investment Co., Ltd. at a cost of 37.11 million yuan.
- In May 2006, Shanghai Automobile Air-conditioner Factory transferred 16 percent out of the 66 percent stake it held in Shanghai Delphi Automotive Air Conditioner System Co., Ltd. to Delphi Automotive System Singapore Private Co., Ltd. Shanghai Automobile Air-conditioner Factory now has a 50 percent share in Shanghai Delphi Automotive Air Conditioner System.
| In million yuan | 2006 | 2005 | Factors |
| Sales | 2,162.88 | 1,803.19 | -
Sales at the auto parts division increased year-on-year, thanks to
favorable vehicle sales in China. - Sales of solar energy equipment rose significantly. |
| Net profit | 126.93 | 64.58 |
■New subsidiary
- In January, 2006, the Company established Shanghai Kang Ba Si Te Technology Development Co., Ltd., a wholly owned subsidiary to manufacture clean energy products such as automotive CNG tanks and LPG tanks.
■Stock transfer
- In April 2006, Shanghai Automobile Air-conditioner Factory sold the 20.85 percent equity share it held in Tianjin Denso Air-Conditioner Co., Ltd. to Denso (China) Investment Co., Ltd. at a cost of 37.11 million yuan.
- In May 2006, Shanghai Automobile Air-conditioner Factory transferred 16 percent out of the 66 percent stake it held in Shanghai Delphi Automotive Air Conditioner System Co., Ltd. to Delphi Automotive System Singapore Private Co., Ltd. Shanghai Automobile Air-conditioner Factory now has a 50 percent share in Shanghai Delphi Automotive Air Conditioner System.
R&D
R&D
for FY2006
■Development of new products
-In February 2006, the Company's 63ZY140-1 DC motor developed for use in the Shanghai VW Santana was awarded the Excellent Energy-Saving Product Award for 2005.
■Development of new products
-In February 2006, the Company's 63ZY140-1 DC motor developed for use in the Shanghai VW Santana was awarded the Excellent Energy-Saving Product Award for 2005.
Investment Activities
Capital Investment Projects
Capital investment in FY2006
- In June, 2006, Shanghai Kang Ba Si Te Technology Development Co., Ltd. launched a plant construction project in the Shanghai Aerospace Science and Technology Industrial Base. The new facility is designed to manufacture automotive CNG tanks, LPG tanks, and other
products for clean energy equipment.
- At a board meeting in November, 2006, the Company agreed on a capital investment project at Shanghai Xinguang Automotive Electrical Equipment Co., Ltd., its subsidiary. Plans are to construct a precision stamping plant, an office building, and a testing facility in Pujiang High-Tech Park of Shanghai, involving an investment of 60.20 million yuan.
Capital investment in FY2006
| Projects | Amount in million yuan | Actual investment | Progress |
| Expanding the facility and installing additional equipment at Shuhang Electric Equipment Branch | 52.24 |
52.24 |
Completed |
- In June, 2006, Shanghai Kang Ba Si Te Technology Development Co., Ltd. launched a plant construction project in the Shanghai Aerospace Science and Technology Industrial Base. The new facility is designed to manufacture automotive CNG tanks, LPG tanks, and other
products for clean energy equipment.
- At a board meeting in November, 2006, the Company agreed on a capital investment project at Shanghai Xinguang Automotive Electrical Equipment Co., Ltd., its subsidiary. Plans are to construct a precision stamping plant, an office building, and a testing facility in Pujiang High-Tech Park of Shanghai, involving an investment of 60.20 million yuan.