It is learned that China auto parts sales were increased a lot in the first half year. And the sales revenues were 140.9 billion Yuan for the 20 surveyed list auto parts makers in the first half year, up 9.2% over last year and their net profits were 11 billion Yuan, up 43.5% over last year. And the average profits rates increased to 7.9% from 1.9% last year.
Tire companies performing comparatively bad
80% of the surveyed companies saw sales increasing and just three companies had sales decreasing. And Shanghai Diesel Engine sales avenues were 92.19 million Yuan in the first half year, down 15.2% over last year. And this can be attributed to marketing fees for new products and decreasing on government subsidies according to the company. And another two companies are both tire companies, GITI Tire and Qian Tire, and their profits were 89 million Yuan and 104 million Yuan, down 6.3% and 13.5% over last year.
Profits of Weichai Power grows 80%
Net profits of Ningbo Huaxiang, Weichai Power, Weifu Technology and Lingyun Shares increased over 50% in the first half year, which can be attributed to benefits from their investments. Net profits of Weichai Power were 3.76 billion Yuan in the first half year, which is the results of investment profits by KION. And Weifu Technology has the highest profits in the first half year, and the number is 23.8%, 5.3% higher than last year and their net profits were 841 million Yuan, up 58% over last year.