Recently, after the financial tsunami, various listed auto companies have submitted dim results, and the renamed FAW Fuwei still maintained high growth. As a major auto parts production company under FAW Group, FAW Fuwei still maintains. An increase of 4.56% in revenue and a 295% increase in net profit. Data show that the company achieved 3.476 billion yuan in operating income last year, an increase of 4.56%; net profit of 190 million yuan, an increase of 295%, this figure is slightly lower than the impressive growth rate of 316% in the report. Yesterday, FAW-Fei Dongxi Fan Xijun explained to the Securities Daily: “As you know in the second half of the macroeconomic situation, the overall automobile market has been declining since the third quarter. Now, the situation of FAW-Fuwei is closely related to the auto industry. This is the main reason why the growth rate is not as good as the mid-term report. It can also be said that the profits in the second half of the year have been diluted by the overall macroeconomic situation." In the first half of the year, FAW Fuwei’s first-half net profit growth over the same period of last year was mainly due to the company’s receipt of 45.89 million dividends from FAW Finance Co., Ltd. in 2007, which accounted for 64.77% of FAW’s first-half net profit. Related transactions limit gross profit As a part company of FAW Group, FAW Fuwei's products are also mainly digested by FAW Group’s auto companies. The annual report shows that the sales volume between the company and its affiliates was 3.08 billion yuan, accounting for 88.69% of the total operating revenue, but this was already lower than the ratio of more than 90% between 2002 and 2004. The annual report shows that in 2008, the company purchased raw materials, purchased fuel and power, sold products, and provided labor services from related parties. The total transaction amount was RMB 2.2 billion, RMB 28.47 million, RMB 3.1 billion, and RMB 2.49 million, respectively, accepting the services provided by related parties. Ten thousand yuan, 10.52 million yuan deposits in related financial companies. In the forecast of related party transactions in 2009, these figures did not change substantially. With such a huge amount of connected transactions, it is doubtful that the fate of FAW-Fuwei can be grasped by itself. Taking 2003 as an example, if the cost of FAW's purchase of goods from related parties can be reduced by 1%, the price of sales to related parties can be increased by 1%, and the company's pre-tax profits will be increased by 1.24 times (without considering taxes, etc.). In the case of factors). Of course, it is also possible that the actual operating conditions of FAW-Fuwei are even worse than those on the report. Related-party transactions have helped the company to some extent. Recently, after the financial tsunami, various listed auto companies have submitted dim results, and the renamed FAW Fuwei still maintained high growth. As a major auto parts production company under FAW Group, FAW Fuwei still maintains. An increase of 4.56% in revenue and a 295% increase in net profit. Data show that the company achieved 3.476 billion yuan in operating income last year, an increase of 4.56%; net profit of 190 million yuan, an increase of 295%, this figure is slightly lower than the impressive growth rate of 316% in the report. On the 23rd, Fan Xifu, the secretary general of FAW-Fuwei, explained to reporters: “As you know in the second half of the macroeconomic situation, the overall automotive market has been declining since the third quarter. Now, the situation of FAW-Fuwei is closely related to the auto industry. This is the main reason why the growth rate is not as good as the mid-year report. It can also be said that the profits in the second half of the year have been diluted by the overall macroeconomic situation." In the first half of the year, FAW Fuwei’s first-half net profit growth over the same period of last year was mainly due to the company’s receipt of 45.89 million dividends from FAW Finance Co., Ltd. in 2007, which accounted for 64.77% of FAW’s first-half net profit. Related transactions limit gross profit As a part company of FAW Group, FAW Fuwei's products are also mainly digested by FAW Group’s auto companies. The annual report shows that the sales volume between the company and its affiliates was 3.08 billion yuan, accounting for 88.69% of the total operating revenue, but this was already lower than the ratio of more than 90% between 2002 and 2004. The annual report shows that in 2008, the company purchased raw materials, purchased fuel and power, sold products, and provided labor services from related parties. The total transaction amount was RMB 2.2 billion, RMB 28.47 million, RMB 3.1 billion, and RMB 2.49 million, respectively, accepting the services provided by related parties. Ten thousand yuan, 10.52 million yuan deposits in related financial companies. In the forecast of related party transactions in 2009, these figures did not change substantially. With such a huge amount of connected transactions, it is doubtful that the fate of FAW-Fuwei can be grasped by itself. Taking 2003 as an example, if the cost of FAW's purchase of goods from related parties can be reduced by 1%, the price of sales to related parties can be increased by 1%, and the company's pre-tax profits will be increased by 1.24 times (without considering taxes, etc.). In the case of factors). Of course, it is also possible that the actual operating conditions of FAW-Fuwei are even worse than those on the report. Related-party transactions have helped the company to some extent. According to an analysis article, related-party transactions also led to FAW gross margins being almost the lowest in the industry. The annual report shows that the gross profit rate of one of the main tires is only 0.04%. This Fan Xijun believes that "(the product's gross profit margin is slightly lower) has nothing to do with the supply of FAW Group, which supply of gross profit margin is the same." "The company's gross profit margin will not increase in the future? The reporter asked. Fan Xijun replied: "This is difficult to say now because the current steel market is very volatile and what is the ratio of gross profit to peers? We are also conducting research." The overall listing of FAW is still just a legend At the beginning of this month, the shares of FAW-Fuwei were greatly regarded in the secondary market. In addition to high rumors of the transfer, it was the FAW's overall listing rumors. However, the overall listing rumors that the legend that has lasted for three years have still not been realized and do not know when it will become a reality. "We did not know the overall listing, because (FAW Group) is returned to the SASAC, what is the plan now do not know. Our company is not good judgment." Fan Xijun said. From the first two months of this year, the auto industry recovered well. In January and February, China sold a total of 1.5636 million automobiles, an increase of 2.7% over the same period. In February, China’s auto industry sold 825,500 vehicles, which was a year of negative growth since the second half of last year, which represented a year-on-year increase of 12.43%. The recovery of the auto market, the recovery of demand should be good news for FAW Fuwei, but the reporter asked whether this contributed to the sales of FAW-Fuwei, Fan Xijun asked: “Is it apparent that the first two months have recovered? I didn’t see any improvement in sales.†The research report of Huatai Securities believes that “beginning last December, benefiting from the strong sales of low-end models, the inventory of automakers has rapidly declined to a historical position. It is expected that auto output will start to rebound after March, which will drive the growth in auto parts demand. In terms of the year, the growth of automobile production and sales will drive the growth of spare parts sales, while the rapid decline in raw material costs will gradually restore the gross profit rate of auto parts. However, Fan Xijun’s estimates for Fawwei’s performance this year are relatively conservative. “It depends on the macroeconomic situation and what is happening in the entire automotive industry. These are closely related to each other. Our company cannot be independent and it is also related to the entire development of FAW Group. The parts factory and depot are certainly an effective community of interests." The company expects to realize operating income of 2.86 billion yuan in 2009, slightly less than in 2008. "This estimate is based on the market operating environment and the current production situation," Fan Xijun said. In other words, the company believes that the market environment this year may not be as good as in 2008. “The preliminary judgment is now like this†Barcode Hologram Label Sticker After you apply the barcode mask over the printed barcode, the barcode reader is still able to read the underlying barcode. However, if the protected barcode is scanned or photocopied, the hologram creates optical interference, which makes the copied barcode unreadable. We can provide variety of affordable customized hologram labels, which can be custom imprinted with your company name, logo, consecutive serial number and other features. 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