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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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