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According to reports, in the first half of the year, the Fast Group Corporation realized a total sales income of 6.654 billion yuan; completed an industrial output value of 6.52 billion yuan; produced and sold 421,441 auto transmissions and 440,106 units; and earned foreign exchange through foreign exchange of 16.4456 million US dollars, an increase of 130.41% over the same period last year.
Facing the continuous adjustment of the market, the Fast Group achieved a stable development of its production and operation, and fully fulfilled various predetermined goals. Among them, new products have played an important supporting role in promoting the steady development of the company. In June of this year, the 20-speed (2500N·m) transmission series of new products independently developed by Fast was successfully trial-produced and once again seized the market commanding heights. At this point, the product spectrum of Fast Transmission has been further improved, the market coverage has been further expanded, and the development of heavy-duty vehicle transmission has been realized in the entire field. This has won the first chance for companies to consolidate the dominant market position and lead the market demand. The speed and strength of development of Fast have attracted the attention of people from all walks of life. In the 2010 China Auto Industry Top 30 list published by China Federation of Machinery Industry and China Association of Automobile Manufacturers, Fast has annual sales revenue of RMB 12.6 billion. Its operating performance ranks 20th among the top 30 in the Chinese auto industry, ranking 6th more than 2009.
The good brand image coupled with excellent product quality has laid a solid foundation for the deep cooperation between Fast and major OEMs. In the second half of 2011, Fast will make full use of the favorable timing of market adjustments to quickly and efficiently bring the company's work to a new level, laying a solid foundation for the company's "12th Five-Year" development.
Shaanxi Fast Automotive Transmission Group Co., Ltd. is a wholly transformed company from Shaanxi Automobile Gear General Factory with a registered capital of 500 million yuan and total assets of 3 billion yuan. It owns Shaanxi Fast Gear Co., Ltd. and Xi'an Fast Motor Co., Ltd. Co., Ltd., Baoji Fast Gear Co., Ltd., Baoji Fast Casting Co., Ltd., Xi'an Fast Pto Co., Ltd., and American Fast Distribution Co. It is a large-scale specialized production base for the production of heavy-duty automotive transmissions, splitters, power take-offs and various automotive gears and forgings.