Source from menafn.com
SHANGHAI, Aug 22, 2011-- AVIC Aero-Engine Controls Co., Ltd. (szse:000738), an operation under umbrella of Aviation Industry Corporation of China, posts an announcement that it plans to invest additional CNY 200 million in four of its subsidiaries.
In detail, AVIC Aero-Engine Controls is set to pour CNY 104 million into Xi'an Aero-engine Controls Co., CNY 38.62 million into Guizhou Honglin Machinery Co., CNY 2.50 million into Beijing Hangke Engine Control System Science ; Technology Co. and CNY 58.27 million into Changchun Aviation Hydraulic Control Co.
The Shenzhen traded aero-engine control system product manufacturer brought in CNY 79.22 million net profit in the first half of the year, leaping by 46.77 percent over the period of last year thanks to operating revenue growth, in terms of its interim results.
AVIC Aero-Engine Controls Co. was solely sponsored by China Nanfang Aviation Power Machinery Corp. with all assets and liabilities of its motorcycle gear plant, engine manufacturing plant, ferrous casting workshop, die-casting workshop, sales company, transportation company, motorcycle design institute and functional divisions as well as a 75 percent interest in Zhuzhou Nanfang Motorcycle Co., Ltd.
