Ningbo Huaxiang 120 million yuan Shanghai set up production base

Ningbo Huaxiang (002048) 29th announcement, the company and the company wholly-owned subsidiary of Shanghai Huaxiang Auto Parts Design Co., Ltd. jointly funded 120 million yuan, set up a new subsidiary in Shanghai outside the gang.　　Among them, Ningbo Huaxiang with its own cash capital of 118.8 million yuan, accounting for 99% of registered capital, Huaxiang auto Parts design company to cash capital of 1.2 million yuan, accounting for 1% of the registered capital.　　After consultation with Shanghai International Auto City Industrial Development Co., Ltd., the new company will invest 33.9 million yuan to purchase 90 acres of land to build the company's Shanghai production base. The new company is located in Shanghai Jiading Wai Gang Town, "new energy vehicles and key parts industry base", near Shanghai Volkswagen Anting factory, from the general Jinqiao,　　Shanghai Automobile Lingang Factory is within 1.5 hours drive, the new company's establishment and production will be closer to the host plant, will greatly accelerate the production base and the host plant reaction time, the new company's production will further enhance the Ningbo Huaxiang won the single ability. Ningbo Huaxiang announced the same day in the first half of the results of the report, 2010 1-June, the company achieved total operating income of 148,532 270,000 yuan, increased by 16.12% in the same period last year, to achieve operating profit of 25,896 970,000 yuan, year-on-year increase of 87.52%, to achieve net profit of 18, 820,900 yuan, an increase of 83.74% from a year earlier.　　Basic income of 0.32 yuan per share. Ningbo Huaxiang said that since the 2009 domestic auto market recovery, the company's main supporting models continued to sell the company's performance significantly increased, the first half of 2010, through the previous years of related accumulation, the company's product market share further expansion, supporting new models of the mass production, resulting in a sharp increase in the company performance.