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 |