Changchun FAW-Sihuan Automobile Co., Ltd. Highlights for FY2006

Business Highlights

Performance for FY2006 (million yuan)

	FY2006	FY2005	Factors
Sales	2,487.96	2,187.43	- Sales increased year-on-year, supported by the Company's efforts to develop new markets at home and abroad.
Net profit	1.80	(120.95)	- Gross profit and net profit jumped from what they were last year as a result of the Company's cost cutting initiatives.

- In fiscal year 2006, the Company sold 3,001,600 sets of wheels, up 86 percent from the previous year's sales volume.
- In fiscal year 2006, the Company exported 854,600 sets of wheels, marking a record-high volume of exports in its history.

New OEM supply agreement
- In December 2006, Chang-chun FAW Sihuan Automobile Co., Ltd. Wheel Company was awarded a contract from Italy-based Iveco, under which it will develop and provide all the wheels required by Iveco's Chinese operations. Chang-chun FAW Sihuan Automobile Co., Ltd. Wheel Company will begin producing wheels for Iveco in 2007.

Investment Activities

Major investment projects in FY2006

Project	Progress
Constructing a new production line at Changchun Fawer-Johnson Controls Automotive Systems Co., Ltd. to manufacture seats for the Magotan, FAW-VW's new vehicle model.	Production started in March 2007.
- Changchun Fawer-Johnson Controls Automotive Systems Co., Ltd building a new plant in Changchun Economic and Technological Development Zone.	The plant is under construction

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