| Address:
|
NO. 56 LINGXI STREET
TAIHE DISTRICT |
| City: |
TAIHE DISTRICT |
|
State: |
|
|
Zip Code: |
121013 |
| Telephone: |
703-918-4926 |
|
Description of Business
|
Primary SIC Code:
3714 |
| (As filed with the SEC)
|
|
|
We are a leading manufacturer of automotive electric parts, suspension products
and engine components in China. Our core products include alternators, starters,
engine valves and tappets, and rods and shafts for use in shock absorber
systems. We have been producing alternators and starters in China since 1997.
According to the China Association of Automobile Manufacturers, or CAAM, in 2008
we ranked second and third in sales revenue in the Chinese market for automobile
alternators and starters, respectively. Our subsidiary Jinan Worldwide, which we
acquired in October 2008, has been producing engine valves and tappets for over
50 years, and we believe we are now one of the largest manufacturers of engine
valves and tappets in China in terms of sales volume as a result of the
acquisition.
Our products are used in a wide range of passenger and commercial automobiles,
and we are especially focused on the fast-growing small-to-medium engine
passenger vehicle market. ... More ... |
| Date |
12-mos
Rolling EPS |
Dividend |
P/E
Ratio |
| 09/2010 | 0.91 | NA | 9.35 | | 06/2010 | 0.80 | NA | 9.15 | | 03/2010 | 0.80 | NA | 13.22 | | 12/2009 | 0.82 | NA | 14.32 | | 09/2009 | 0.75 | NA | 16.00 | | 06/2009 | 0.75 | NA | 13.51 | | 03/2009 | 0.74 | NA | 4.84 | | 12/2008 | 0.70 | NA | 5.60 |
Key Financial Ratios and Statistics |
FYE:
12/31 |
| Profitability |
2009 |
Leverage |
2009 |
| Net Inc/Comm Equity | 0.17 | Total Liab/Total Assets | 0.47 | | Net Inc/Total Assets | 0.06 | Total Liab/Inv Cap | 1.24 | | Net Inc/Inv Cap | 0.17 | Total Liab/Comm Equity | 1.23 | | Pretax Inc/Net Sales | 0.13 | Interest Coverage Ratio | NA | | Net Inc/Net Sales | 0.11 | Curr Debt/Equity | 0.45 | | Cash Flow/Net Sales | 0.09 | LTD/Equity | 0.11 | | SG&A/NetSales | 0.10 | Total Debt/Equity | 0.56 |
| Asset Utilization
|
|
Liquidity |
|
| Net Receivables Turnover | 2.59 | Quick Ratio | 1.34 | | Inventory Turnover | 3.36 | Current Ratio | 1.70 | | Inventory Day Sales | 0.01 | Net Rec/Curr Assets | 0.37 | | Net Sales/Work Cap | 2.16 | Inv/Curr Assets | 0.22 | | Net Sales/PP&E | 2.86 | | |
Income Statement (Millions) |
| |
9/30/2010
|
6/30/2010
|
3/31/2010
|
12/31/2009
|
|
Total Revenues(Net Sales)
|
78.83
|
68.46
|
63.62
|
62.44
|
|
Cost of Goods Sold
|
58.14
|
51.31
|
47.99
|
47.34
|
|
Selling & Admin Exps
|
8.20
|
6.99
|
7.49
|
8.14
|
|
Operating Income
|
10.61
|
8.63
|
6.79
|
5.34
|
|
Interest Exp
|
NA
|
NA
|
NA
|
NA
|
|
Pretax Income
|
13.66
|
7.82
|
6.89
|
6.63
|
|
Other Income
|
5.84
|
0.27
|
0.73
|
-2.22
|
|
Net Income Bef Extraordinary ...
|
NA
|
NA
|
NA
|
NA
|
|
Net Income
|
11.94
|
6.65
|
5.78
|
5.80
|
|
Assets
|
9/30/2010
|
6/30/2010
|
3/31/2010
|
12/31/2009
|
|
Cash & Short Term Investments
|
121.98
|
75.25
|
80.35
|
98.17
|
|
Receivables - Total
|
167.90
|
104.95
|
92.53
|
87.50
|
|
Inventories - Total
|
82.60
|
53.17
|
55.02
|
51.12
|
|
Total Current Assets
|
372.48
|
233.38
|
227.90
|
236.79
|
|
Net Property, Plant & Equipment
|
115.52
|
75.20
|
72.53
|
73.77
|
|
Total Assets
|
680.89
|
386.41
|
367.71
|
362.25
|
|
Liabilities
|
|
|
|
|
|
Accounts Payable
|
196.12
|
40.72
|
41.86
|
52.18
|
|
Debt in Current Liabilities
|
218.87
|
108.38
|
93.47
|
86.47
|
|
Total Current Liabilities
|
415.36
|
149.47
|
135.69
|
139.00
|
|
Long-Term Debt
|
20.88
|
18.16
|
22.25
|
20.91
|
|
Total Liabilities
|
455.05
|
177.44
|
167.65
|
169.60
|
|
Stockholder's Equity
|
|
|
|
|
|
Minority Interest
|
13.49
|
6.32
|
6.03
|
5.82
|
|
Preferred Stock
|
0.00
|
0.00
|
0.00
|
0.00
|
|
Common Stock
|
0.00
|
0.00
|
0.00
|
0.00
|
|
Retained Earnings
|
59.64
|
47.70
|
41.05
|
35.27
|
|
Treasury Stock
|
NA
|
NA
|
NA
|
NA
|
|
Total Stockholders' Equity
|
225.84
|
208.96
|
200.07
|
192.65
|
|
Total Liabilities and Stockholders' Equity
|
680.89
|
386.41
|
367.71
|
362.25
|
Cash Flow Summary (Millions) |
|
Categories
|
9/30/2010
|
6/30/2010
|
3/31/2010
|
12/31/2009
|
|
Net Cash Provided by Operating Activities
|
11.72
|
-5.78
|
-0.53
|
7.04
|
|
Net Cash Provided by Investing Activities
|
-25.24
|
-11.69
|
-10.25
|
-26.25
|
|
Net Cash Provided by Financing Activities
|
12.79
|
9.35
|
-3.08
|
80.18
|
Annual Summary Data (Millions) |
| Year |
Sales |
Net
Income |
EPS |
| 12/2005 | 0.00 | -0.05 | -- | | 12/2006 | 72.15 | 0.72 | 0.40 | | 12/2007 | 102.08 | -3.75 | 0.60 | | 12/2008 | 141.19 | 18.91 | 0.70 | | 12/2009 | 211.02 | 22.86 | 0.82 | | Growth Rates | Infinity | -- | -- |
| Type |
Date(Q,M) |
No.
Owners |
Shares
Held (000s) |
%
Own |
| Institutional | 06/30/11 | 66 | 7,446 | 21.99 |
|
Report Date :
9/12/2011
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