Wuhan Gen China (WUHN)

- 26/8/2008 13:27

quaderno21 N° messaggi: 437 - Iscritto da: 08/3/2007

Descrizione
Wuhan General Group (China), Inc. (Wuhan General), formerly United National Film Corporation, designs, manufactures, and distributes industrial blowers and turbines. The Company is a holding company whose primary business operations are conducted through its operating subsidiaries Wuhan Blower Co., Ltd. (Wuhan Blower) and Wuhan Generating Equipment Co., Ltd. (Wuhan Generating Equipment). Wuhan Blower is a China-based manufacturer of industrial blowers that principally are components of steam driven electrical power generation plants. Wuhan Generating Equipment is a China-based manufacturer of industrial steam and water turbines, also principally for use in electrical power generation plants. On February 7, 2007, the Company entered into a share exchange agreement with Fame Good International Limited (Fame) and Universe Faith Group Limited (UFG). Pursuant to the share exchange, UFG became a wholly owned subsidiary of the Company and Fame became the Company’s controlling stockholder.

Financial Summary
For the six months ended 30 June 2008, Wuhan General Group China Inc's revenue increased 90% to $56.6M. Net income available to Common. $9.7M vs. a loss of $4.9M. Revenues reflect an increased income from Wuhan Blower Segment and Wuhan Generating Equipment & mainly due to increased customer base into the iron & steel, power generation etc. Net income reflects an increase in gross margin and an increase in interest income.

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