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Guizhou Guihang Automotive Components Co., Ltd. Highlights FY2007
Business Highlights
Business results for FY2007 (in million yuan)
| million yuan | 2007 | 2006 | Difference (%) | Factors |
| Sales | 1,010.02 | 827.97 | 22.0% | Sales increased year-on-year as a result of the Company's developing new products, expanding its customer base, and increasing exports. |
| Operating profit | 55.26 | 33.66 | 64.2% |
Profit rose compared to what it was the previous year due to reduced costs and an enhanced management structure. |
| Ordinary profit | 56.90 | 33.11 | 71.9% | |
| Net profit | 46.52 | 28.61 | 62.6% |
■Acquiring Guiyang Wanjiang Aviation Electromechanical Co., Ltd.
- At a board meeting held in June 2007, a decision was made to purchase Guiyang Wanjiang Aviation Electromechanical Co., Ltd., which is a member of the China Guizhou Aviation Industry (Group). It manufactures wipers, window regulators, and motor shafts used in passenger vehicles.
■New subsidiary
- In November 2007, the Company and Thermal Dynamics International of the U.S.A. jointly established Guizhou Yonghong Thermal Dynamics Co., Ltd. to manufacture heat exchangers. The amount of total investment in this new company is 700,000 dollars, of which 70 percent or 490,000 dollars was provided by the Company in the form of both cash and equipment.
Investment Activities
■Capital investment projects in FY2007(in million yuan)
|
Projects |
Budgeted amount |
Amount invested in FY2007 |
| Installing additional facilities to produce switches used in electronic and electric equipment | 5.90 | 0.72 |
| Installing additional equipment to produce aluminum radiators | 3.99 | 1.01 |
| As the first phase of this project, the Company is Installing additional extrusion molding equipment to manufacture weather stripping made of composite materials | 6.80 | 5.78 |
| Building a production facility at Haikou Hongyang Seal Products Branch Company is the first phase of this project. | 6.00 | 0.32 |
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