Jinshan Firm Listed Among Top 50 Private Enterprises in Shanghai

SHANGHAI, China, Sept. 28 /Xinhua-PRNewswire/ -- Shanghai Jinshan District Government announced today that Shanghai Maple Automobile Co., Ltd., based in the district's Fengjing Industrial Park, was recently ranked No.33 in the 'Top 100 Private Enterprises of Shanghai 2004.' The district government also expressed its appreciation that dynamic enterprises such as Shanghai Maple have chosen Jinshan as their base of operations.

In 2003, Shanghai Maple sold 13,460 cars, reporting sales revenue of over USD84 million (RMB700 million) and paid taxes of more than USD1.9 million (RMB16.19 million). For 2004, the company aims to produce and sell 26,500 cars, with sales revenue expected to hit USD218 million (RMB1.8 billion).

The 410,000 square meter Phase I Project of Shanghai Maple was completed at a total cost of USD60 million (RMB500 million). The project includes construction of a full production plant and an engine manufacturing plant, using 150,000 square meters and 260,000 square meters respectively. Moreover, a sophisticated warehouse was built for storage and distribution of spare parts and components. Completion of the Phase I Project has enabled the company to achieve an international standard of precision and adopt Euro III emission specifications.

As a part of phase II, the expansion of the plant will take place on a 700,000 square meter piece of land. Upon its completion, the company will be able to expand production capacity by 200,000 cars. By 2007, Shanghai Maple anticipates to produce 240,000 cars and 200,000 engines per year, aiming to become one of the largest four production bases of Geely Holding Group.

Jinshan District Government has been focusing on the central task of economic construction, keeping investment high on its list of priorities. Investing in Jinshan will prove to be one of the best business choices.

About Shanghai Jinshan District

Located in the southwest of Shanghai, the Shanghai Jinshan District covers 586.05 square kilometers, with 14 towns and a population of 550,000. Previously known as Jinshan County, and established 277 years ago, Jinshan District now covers Jinshan County and the Sinopec Shanghai Jinshan Industrial Company. It was the first district to be established on the outskirts of Shanghai on 12 May 1997.

  For more information, please contact:

   Wang Ren of Shanghai Jinshan District Government
   Tel:   +86-21-5792-1325
   Fax:   +86-21-5792-1100
   Email: jsqzhk@sohu.com