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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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