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Weifu High-Technology Co., Ltd. FY2007
Business Highlights
Performance
for FY2007 (million yuan)
Additional investment in Wuxi Autocam Precision Machine Co., Ltd.
- In 2007, the Company and Autocam of the U.S. each invested an additional 2 million dollars in Wuxi Autocam Precision Machine Co., Ltd., a 50-50 joint venture company between the two. The addition, which increased the amount of Wuxi Autocam's capital from 6 million dollars to 10 million dollars, was intended to support the company's production expansion project targeting car OEMs.
| FY2007 | FY2006 | Rate
of Change (%) |
Factors | |
| Sales | 3,121.34 | 2,669.96 | 16.9 | - Sales increased year-on-year, thanks to strong sales of diesel-powered commercial vehicles in China. |
| Operating profit | 286.05 | 138.64 | 106.3 | - Profit rose significantly year-on-year due to greater gains earned on investments the company made in companies accounted for under the equity method. Among these companies is Bosch Automotive Diesel Systems Co. Ltd., which recorded increased sales. |
| Ordinary profit | 283.11 | 134.86 | 109.9 | |
| Net profit | 266.03 | 127.15 | 109.2 |
Additional investment in Wuxi Autocam Precision Machine Co., Ltd.
- In 2007, the Company and Autocam of the U.S. each invested an additional 2 million dollars in Wuxi Autocam Precision Machine Co., Ltd., a 50-50 joint venture company between the two. The addition, which increased the amount of Wuxi Autocam's capital from 6 million dollars to 10 million dollars, was intended to support the company's production expansion project targeting car OEMs.
R&D
- Through
technological tie-up with Bosch, the Company developed a fuel injection
system component conforming to EUROII/III emissions regulations.
Investment Activities
| Capital investment projects for FY2007 | (in million yuan) |
| Project | Total amount of investment | Amount invested in 2007 | |
| 1. | Manufacturing components used in Bosch-brand products in China | 120.00 | 92.50 |
| 2. | Improving production lines to make pumps for use in direct injection systems | 25.00 | 16.93 |
| 3. | Manufacturing components for use in Bosch's high-pressure common rail fuel injection systems | 12.50 | 8.44 |
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