Wuxi Diesel Engine Reaches Net Worth 7.191B Yuan

Beijing Northern Assets Appraisal Co., Ltd., a prominent domestic assets appraisal firm, recently performed an evaluation of FAW Group's Wuxi Diesel Engine Division and announced the unit to have a current net worth of approximately 7.191 Billion Yuan (RMB). The company, a division of FAW Jiefang Truck Co., Ltd., FAW Group's commercial truck production subsidiary, has a rich 63 year history in commercial diesel engine development and production. According to intangible assets evaluation criteria of Ministry of Finance People's Republic of China, globally accepted brand evaluation means, and by ways of necessity process (spot survey and trade investigation); the final result was arrived at for release.

The conclusion of the evaluation regards FAW's Wuxi Diesel Engine Division as one of the most renowned brands in commercial engine industry in China for the following reasons.

1.The brand has successfully gained wide customer acceptance due to its broad product range of high quality diesel engines.

2.The Wuxi Diesel Engine Division holds many patented technologies that put it firmly ahead of its competition.

3.The company has long adopted a modern corporate culture promoting team spirit and innovation, yielding superior organizational and management systems.

4.The company possesses outstanding human resources, high quality products, an extensive marketing network, and efficient supply chain mechanism.

5.The company, known for its successful and innovative marketing, has year after year made strategically planned expansions to both its marketing group and after-sales service network.

6.The company has solidified its brand image by dedicating itself to protecting human health, our natural resources, and the global environment.

7.The company has a staff of immensely talented and devoted employees, largely attributable to the company's operating philosophy, which states "our employees are our most valuable resource".

8.The company has promoted its corporate reputation by endeavoring to make a positive impact in the local economy and the community, receiving high praise from the local government and consumers.

The appraisal result for FAW's Wuxi Diesel Engine Division will support further advancement of the company's brand development strategy and serve to strengthen the competitiveness of its wide range of diesel engines.

The Wuxi Diesel Engine Division of FAW Jiefang Truck Co., Ltd., a wholly owned subsidiary of FAW Group, is a world class producer of quality light-duty, mid-range, and high-horsepower diesel engines for a diverse range of applications including commercial trucks, industrial, marine, power generation, and agriculture.

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