WANFENG AUTO WHEEL 0.7bn Yuan Invested 2 Aluminum Wheel Hub Projects

(China Aluminum Network) WANFENG AUTO WHEEL(002085) announced Zhejiang Wanfeng Motorcycle Wheel Co., Ltd. which is the holding subsidiary planned to establish wholly-owned subsidiary in India and invest a motorcycle aluminum wheel hub project with annual production of 3,000 thousand pieces. The wholly-owned subsidiary was named as India Wanfeng Aluminum Wheel Co., Ltd., with 15,000 thousand dollars of registered capital, the total investment amount was 0.307 billion yuan.

It is learned that Wanfeng Motorcycle is the world largest motorcycle aluminum alloy wheel hub manufacturer, India market, domestic quality market and Indonesia market are the main sales territories. Company expected that the annual sales revenue will reach 0.35 billion yuan after put into production, annual profits may about 38,000 thousand yuan. The company hold that this investment will help to solve the production obstacles, expand motorcycle aluminum alloy wheel hub market scale, improve company’s market share, avoid trade barriers, meet company’s strategic investment plan and long-term interests.

At the same time, the company also plans to establish a wholly-owned subsidiary in Jilin with annual production of 2,000 thousand pieces. The wholly-owned subsidiary was named as Jilin Wanfeng Auto Wheel Co., Ltd., with 0.15bn yuan of registered capital and 0.432bn yuan of total investment amount. After put into production, company’s sales revenue may hit about 0.48bn yuan, realize 40,000 thousand yuan of annual profits.

Copyright and Exemption Declaration :¢ÙAll articles, pictures and videos that are marked with "China Aluminum Network" on this website are copyright and belong to China Aluminium Network (www.alu.com.cn). When transshipment, any media, website or individual must list the source from "China Aluminium Network (www.alu.com.cn)". We seek legal actions against anyone that disobey this. ¢ÚArticles that marked as copy from others are for transferring more information to readers, do not represent or endorse their opinions or accuracy and reliability. When other media, website or individuals copy from our website, must keep the source. Anyone that changes the articles' sources will hold the responsibilities for copyright and law problems. We also seek legal actions against anyone that disobey this. ¢ÛIf any articles copied by our website concern the copyright and other problems, please contact us within one week.