SHANGHAI, March 29 (Reuters) - Year ended Dec. 31, 2007.
(in millions of yuan unless stated, against 2006 figures):
Turnover 12,791.74 vs 10,071.25
Net profit 489.33 vs 486.31
Earnings per share (yuan) 0.2447 vs 0.2432
Assets per share (yuan) 2.79 vs 2.61
Company: Dongfeng Automobile Co (600006.SS) is a listed unit of one of China’s top three vehicle makers. It has a joint venture with U.S.-based Cummins Inc (CMI.N) to make diesel engines.
Note: The company published audited results, compiled under domestic accounting standards. Year-earlier figures were revised because of accounting rule changes.
Excluding extraordinary items, net profit fell slightly to 484.37 million yuan ($69.1 million) from 488.59 million yuan.
The company said it sold 150,038 vehicles in 2007, up 19 percent, slightly underperforming 22 percent growth in China’s overall vehicle market to 8.79 million vehicles. Dongfeng’s sales of diesel engines jumped 42 percent to 136,973 engines.
In 2008, China’s vehicle sales growth is expected to slow to 13 percent, the company quoted an industry association as saying.
It said it would aim for sales of 174,700 vehicles and 136,200 engines in 2008, and to make 530 million yuan of profit before tax and interest expenses on 16.2 billion yuan of turnover.
Dongfeng said it planned to pay a total cash dividend of 0.24 yuan per share, including 0.12 yuan carried over from 2006. ($1 = 7.01 Yuan)