Due to the slowdown in the automotive industry caused by the global financial crisis, Weifu Hi-Tech's main business revenue dropped by nearly 3% year-on-year in 2008, and there was nearly 5% growth in the first three quarters of 2008. The situation can be described as "abrupt change."
Although the operational situation faced by Weifu Hi-Tech in 2008 has become severe, the “China Bosch Automotive Diesel Systems Co., Ltd.†and “Joint-Vehicles Automotive Co., Ltd.†have participated in the stimulation of the implementation of the new emission standards for China III and the continued increase in the proportion of passenger vehicles. "We have achieved good results, maintained steady growth in business, and brought a lot of rewards. Weifu Hi-Tech's investment income grew by nearly 1.7 times year-on-year, totaling 365 million yuan, which is the most important source of corporate profits.
As the development of the automotive industry slowed down after the fourth quarter of 2008, the revenue of Weifu Hi-Tech in the current period decreased by more than 32% year-on-year, and the inventory decreased by more than 33% year-on-year. The market situation, companies are actively taking countermeasures to ensure the sustainability and stability of development. Combined with such indicators as inventory turnover, accounts receivable turnover, and operating cash flow, the overall business operations of the company are still relatively good.
At present, Weifu Tech's debt ratio is only 40%, which is a year-on-year decline of 8 percentage points. On the one hand, it shows that there is basically no pressure for capital demand at present, and on the other hand, it also shows that there is still ample room for utilizing relevant financial leverage.
Given that the automobile market was stimulated by relevant national policies in 2009, the proportion of passenger cars continued to increase, while commercial vehicles remained in a sluggish state. Therefore, although the company’s joint stocks of UAES and Bosch Diesel Systems will still be the main body of corporate profits, the performance The further improvement of the commercial vehicle market has yet to pick up.
Flow Meters,Level Meters Co., Ltd. , http://www.china-flow-meter.com