BEIJING, Nov. 8 (InfoChina) – Wonder Auto Technology Inc. (WATG.Nasdaq), a leading auto engine and starter producer in China, debuts on Nasdaq on November 8.
Wonder Auto started back-door listing on OTCBB in June 2006 and successfully turned to Nasdaq on August 9, 2007.
Listing on Nasdaq is an important step in the company’s overseas strategy, said Zhao Qingjie, CEO of the company. One of the main strategies is to bring China-made high added-value auto parts and accessories into the global market so as to crack down the monopoly from US and European products.
With ten years of development, Wonder Auto’s production capacity of auto engines increased from 930,000 units to nearly four million units with 220 varieties, said Zhao.
Its auto engines had a 16 percent share in China’s new car market and its starters took up a 13 percent share in 2006, with the combined market share ranking 2nd domestically.
Wonder Auto projects sales of 700 million yuan for 2007, or up 40 percent year on year, said Zhao. The sales volume is expected to surpass 2.5 million units and the output value is to hit some 840 million yuan.
Zhao disclosed that Wonder Auto has already talked with US and German automakers on providing parts and accessories for them. In order to meet 2008 market demand, it plans to borrow money from banks to add two more production lines to lift the output capacity up to 4.5 million units. (Edited by Li Xueqing,
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China Stock News 
