Weifu High-Technology Co., Ltd. FY2008
Business Highlights
Financial overview (million yuan)
| FY2008 | FY2007 | Rate of Change (%) |
Factors | |
| Sales | 3,033.29 | 3,185.42 | (4.8%) | Sales decreased year-on-year due mainly because of the following factors: - A fall in sales of diesel engines due to the slowdown of the global economy. - A significant decline in sales of products based on the National Emissions Standards 2, following the introduction of the National Emissions Standards 3. (National Emissions Standards 3 are equivalent to Euro 3 standards.) |
| Operating profit | 245.19 | 287.57 | (14.7%) | - Operating profit, ordinary profit, and net profit decreased from a year ago, due a large increase in costs as materials prices soared. |
| Ordinary profit | 215.69 | 284.29 | (24.1%) | |
| Net profit | 206.81 | 266.52 | (22.4%) |
R&D
Development project in FY2008
Variable capacity CB18 and CB28 pumps for high pressure common rail systems.
Variable capacity CB18 and CB28 pumps for high pressure common rail systems.
Investment Activities
| Capital investment projects for FY2008 | (in million yuan) |
| Project | Total amount of investment | Amount invested in 2008 | |
| 1. | High-pressure common rail fuel injection system project | 49.95 | 43.27 |
| 2. | Shifting production of fuel system parts to Korea | 49.97 | 1.52 |
| 3. | Second phase of plant construction project at Nanjing Weifu Jinning Co., Ltd. | 173.32 | 26.34 |
| 4. | Establishing production facilities in the Wuxi National High-Tech Industrial Development Zone | 49.98 | 1.04 |
| 5. | Establishing production facilities in the Wuxi Huishan Economic Development Zone | 36.58 | 14.25 |
| 6. | Expanding injector plant | 35.00 | 9.05 |