Wonder Auto Technology
Wonder Auto Technology is a Nevada holding company whose splendidly-named China-based operating subsidiaries, Jinzhou Halla, Jinzhou Dongwoo, Jinzhou Wanyou, Jinzhou Hanhua, Jinzhou Karham, Jinzhou Wonder Motor, Jinzhou Wonder Dianzhuang, Fuxin Huirui and Jinan Worldwide design, develop, manufacture and sell automotive electrical parts in China. Been doing it since 1997. In 2007 the group ranked second in sales revenue in China in its product group.
Most of the products are used in passenger cars, especially smaller engine vehicles with engine displacement between 1.3 liters and 2.0 liter
Now follow this:
On October 1, 2008, Jinzhou Halla entered into an equity transfer agreement with Hony Capital II, L.P., a Cayman Islands corporation, under which Jinzhou Halla purchased 65% equity interest in Year City Limited, a British Virgin Islands corporation, representing all the equity interests in Year City Limited held by Hony Capital, for a total cash consideration of RMB 80 million.
Year City does not have any assets except its 100% equity ownership of Jinan Worldwide.
Jinan Worldwide is a Chinese corporation engaging in the manufacturing of engine valves and tappets.
This is quite a large operation as sales revenue for the third quarter of 2008 was $39.3 million and when you read it complex financial report in MarketWatch you realize how much intellectual effort goes in to setting up companies to minimize tax liabilities.
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