Weifu High-Technology Group Co., Ltd. Business Report FY ended Dec. 2012
|FY ended Dec. 31, 2012||FY ended Dec. 31, 2011||Rate of
|Sales||5,015.28||5,898.11||(14.97)||Due to the effect of domistic automotive industry, the increase rate of sales decreased.|
|Operating profit||1,025.38||1,360.77||(24.65)||-The sales of 3 business units did not reach expected target;
-The company produced 1.35 million units of diesel multi-cylinder pumps and 5.05 million sets of fuel injector assemblies in 2012.The company has a leading production line of the exhaust aftertreatment systems in China and produced 1.24 million sets of converters in 2012.
-In February 2012, The Company issued approximately 112 million new shares in a private placement. As a result of the capital expansion, the ratio of shareholding by Wuxi Industry Development Group Co., Ltd. and Bosch will be increased to 20 percent and 14 percent, respectively. (From the company 2012 annual report)
Cooperation with Technical Center
-Weifu High-Technology and Chongqing Weichai Engine Plant Technical Center have jointly developed the P9 pumps, and is now conducting trial production. They have already completed testing and inspection of 20 oil pumps for 6-clinder engines. (From a press release, December 11, 2012)
-A state Technical Center
-A Post-Doctor Working Station for fuel injection pump R&D
- The expenditure on R&D in 2012 reached 162.34 million yuan, 3.24% of the company's revenue.
- The company's diesel fuel injection system technology is in a leading position in China.The company has independently developed WAPS system and currently production preparation is in progress. The company also successfully developed high-pressure variable pumps supporting high-pressure common rail system and has been bulk supply.The company has the core technology of the post-processing system and is capable of supplying for downstream customers. The Company successfully developed new products to meet State IV emission requirements of diesel vehicles such as SCR, POC, DOC.
-Wuxi Weifu Leader Catalytic Converter co., Ltd., a subsidiary of Weifu High-Technology, held an opening ceremony for its new technical development center on November 26. The 9,450-square-meter-facility has a number of testing and research rooms, which include a muffler testing room, a vibration testing room, an engine exhaust performance testing room, an exhaust gas flow laboratory, a welding technology laboratory, and a thyristor technology laboratory. (From a press release, December 11, 2012)
Capital Investment Projects for FY 2012
|(in million yuan)|
|Projects||Amount invested in 2012||Progress (%)|
|1.||R&D of WAPS(Common Rail Accumulator Distribution System), industrialization
and the capacity expansion on spare parts of diesel common-rail system
|2.||Construction project in
|3.||Industrialization of tail
|4.||Project of engineering research institution||11.31||99.9|