Guizhou Guihang Automotive Components Co., Ltd. Highlights FY2008
Business Highlights
Financial overview
| million yuan | 2008 | 2007 | Difference (%) | Factors |
| Sales | 1,463.15 | 1,350.30 | 8.4% | - Sales increased from a year ago as a result of the Company's initiatives to improve its product quality and explore new markets. |
| Operating profit | 84.30 | 96.92 | (13.0%) | - Operating income, ordinary income, and net profit decreased from last year, due to increased costs. |
| Ordinary profit | 96.42 | 104.02 | (7.3%) | |
| Net profit | 80.89 | 88.58 | (8.7%) |
Acquisition of Guiyang Wanjiang Aviation Electromechanical Co., Ltd.
- In January 2008, the Company acquired 100 percent of the equity in Guiyang Wanjiang Aviation Electromechanical Co., Ltd., which is a member of the China National Guizhou Aviation Industry (Group). The wholly owned subsidiary manufactures wipers, window regulators, and motor shafts used in passenger vehicles.
Investment Activities
■Capital investment projects in FY2008 (in million yuan)
| Projects | Budgeted amount | Amount invested in FY2008 |
| Installing additional extrusion molding equipment to manufacture weather strips made of composite materials | 101.35 | 19.28 |
| Installing additional equipment to produce aluminum radiators | 49.10 | 8.03 |
| Installing additional facilities to produce switches used in electronic and electric equipment | 44.92 | 12.11 |