Wonder Auto Technology Announces Preliminary Financial Results for the Third Quarter

    Third Quarter Selected Preliminary Financial Results:

     -- Estimated sales revenue of approximately $39 million;
     -- Estimated net income of approximately $6.3 million;
     -- Estimated fully diluted EPS of approximately $0.23.

Mr. Qingjie Zhao, Wonder Auto's Chairman and CEO, said, "Thanks to the implementation of our growth strategies which have assured us to keep our rapid revenue and net income growth. Operating in a highly competitive environment, Wonder Auto's outstanding performance/price ratio attributed by our strong R&D capabilities, low-cost manufacturing and stable supplier network has enabled us to remain sticking with existing customers, winning new customers and capturing market share from competitors. Our strategy of diversifying product portfolio through acquisition has further bolstered our competitive position in the industry."

About Wonder Auto

Based in Jinzhou City,Liaoning, China, Wonder Auto Technology, Inc., through its Chinese subsidiaries, designs, develops, manufactures and sells automotive electrical parts and suspension products. Wonder Auto was ranked second in sales revenue in theChina market for automotive alternator and starter in 2006. With respective 5 different series and over 150 models of alternators, 70 models of starters and various suspension related parts, the Company supplies to a wide range of automakers, engine producers and auto parts suppliers both in domesticChina and overseas. Wonder Auto's main customers include Beijing Hyundai Motor Company, Shenyang Aerospace Mitsubishi Motors Engine Manufacturing Co., Ltd., Harbin Dongan Automotive Engine Manufacturing Co., Ltd., and Tianjin FAW Xiali Automotive Co., Ltd. For more information, please log on http://www.watg.cn .

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, among others, statements regarding the Company's expected financial and operating results for its third quarter ended September 30, 2008 as well as other expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results of the Company to differ materially from those anticipated, expressed or implied in the forward-looking statements. The words "believe," "expect," "anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks and uncertainties that could cause actual results to differ materially from those anticipated include risks related to new and existing products, product defects and any related product recall; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business inChina; any statements of belief or intention; any of the factors and risks mentioned in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2007 and any subsequent SEC filings. The Company assumes no obligation and does not intend to update any forward-looking statements, except as required by law.

    For further information, please contact:

     Lydia Zhao
     Assistant CFO
     Wonder Auto Technology, Inc.
     Tel:   +86-10-8478-5339
     Cell:  +86-130-2118-4792
     Email: lydiaz@watg.cn

     Yechon Xie
     Investor Relations Manager
     Wonder Auto Technology, Inc.
     Tel:   +86-416-266-1186
     Cell:  +86-137-0006-1685
     Email: ycxie@watg.cn

SOURCE Wonder Auto Technology, Inc.

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Copyright © 2008, NewsBlaze, Daily News

Tags: ,AUT,CPR,MAC,ERN,WATG-Preliminary-EARN

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