Harbin Dongan Auto Engine Co., Ltd. Highlights for FY2006:
|In million yuan||2006||2005||Factors|
|Sales||2,176.37||2,254.67|| Sales and profit
decreased year-on-year due to the following factors:
- Declining sales of engines, its major productline, for mini vehicles, as the commercial mini-vehicle market in China saw sluggish growth.
- The Company's initiatives to develop new OEM customers did not work out as well as expected.
Share Capital Investment
- The Company acquired a 25 percent equity share in Harbin Dongan Huafu Machinery Co., Ltd., a supplier of intake manifolds, in April 2006. The share transaction was valued at 15 million yuan.