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Hong Kong-listed AviChina Industry sees strong 2007 results for unit

Analysis

Hong Kong (XFN-ASIA) - AviChina Industry & Technology Co Ltd said its A-shares listed unit Dongan Motor is expected to report more than 100 pct year-on-year growth in its 2007 results under Chinese accounting standards.

Summary
  • Dongan Motor, a unit of AviChina Industry & Technology, is expected to report over 100% year-on-year growth in its 2007 results.
  • The strong results are primarily attributed to the increased sales volume of engines produced by Harbin Dongan Engine Manufacturing Co.
  • Dongan Motor's unaudited net profit for 2007 was 89 million yuan, with income from principal activities reaching 1.8 billion yuan.
  • AviChina's A-shares listed unit, Dongan Motor, is experiencing significant growth in its financial performance.
  • AviChina's stock price increased by 5.88% following the announcement of Dongan Motor's expected strong results.
  • The positive performance of Dongan Motor reflects the overall growth and success of AviChina in the aviation industry.

AviChina said Dongan Motor's expected strong results are due mainly to the significant growth in the sales volume of engines produced by its unit Harbin Dongan Engine Manufacturing Co.

Dongan Motor's unaudited 2007 net profit amounted to 89 mln yuan and income from principal activities was 1.8 bln yuan.

At 10.52 am, AviChina was up 0.11 hkd or 5.88 pct at 1.98.

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