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