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- Xuchang Yuandong Drive Shaft Co., Ltd.
- Xuchang Yuandong Drive Shaft Co., Ltd. Business Report FY ended Dec. 2017
Xuchang Yuandong Drive Shaft Co., Ltd. Business Report FY ended Dec. 2017
Financial Overiew
|
(in million CNY) |
|
FY ended Dec. 31, 2017 |
FY ended Dec. 31, 2016 |
Rate of change |
Factors |
Sales |
1,522.61 |
1,024.27 |
48.65% |
-In 2017, the Company's sales increased due to increase of market needs; efficiency improvement; cost reduction; purchase order increase from major customers; and obtainment of new customers.
|
Operating profit |
220.70 |
113.91 |
93.75% |
- |
Gross profit |
218.74 |
137.67 |
58.89% |
Net profit |
187.33 |
117.05 |
60.04% |
Acquisition
-On June 4, 2018, the Company and Wanxiang Qianchao Co., Ltd. signed a contract regarding a transfer of shares. The Company will acquire a 54.73% stake in Xuchang Qianchao Yuandong Auto Parts Co., Ltd., a joint venture between the two companies, for CNY 14.81 million. After the share transfer, the joint venture will have no capital relationship with Wanxiang Qianchao and become a wholly owned subsidiary of the Company. Xuchang Qianchao Yuandong Auto Parts primarily manufactures and sells universal joints. (From a press release on June 6, 2018)
R&D Facilities
-The Company has the following R&D facilities:
- State Enterprise Technology Center
- National Postdoctoral Research Station
- Henan automotive transmission engineering and technology R&D center
- Henan post-doctoral R&D base
- Henan provincial-level high-performance lightweight shaft engineering lab
- Henan automotive parts intelligent heat treatment technology academician workstation
R&D Expenditure
|
(in million CNY) |
Year |
FY ended Dec. 31, 2017 |
FY ended Dec. 31, 2016 |
FY ended Dec. 31, 2015 |
R&D expenditure |
78.62 |
61.21 |
54.11 |
Ratio of R&D expenses to sales |
5.16% |
5.98% |
5.84% |
R&D Project Expediture
|
(in million CNY) |
Project |
R&D Expense |
Integrated application research on blanking device of intelligent manufacturing line of heavy truck drive shaft |
1.44 |
Automotive transmission shaft intelligent manufacturing integrated technology application development-sliding fork |
2.77 |
Research on drive shaft assembly of constant velocity universal joint |
8.32 |
Research and development of constant speed drive shaft assembly and automatic assembly technology |
2.62 |
Research and development of comprehensive performance testing for constant speed drive shaft assembly |
1.98 |
Research and development of autonomous assembly technologies for drive shaft |
6.24 |
Research and development of drive shaft assembly for high-end rear-drive (or four-drive) passenger vehicles |
4.42 |
Research and development of drive shaft assembly for buses with long lifecircles and high comfort |
4.43 |
Research and development of 700-series drive shaft assembly |
2.71 |
Industrialization and development of key technologies smart manufacturing for constant drive shaft components |
12.16 |
Research and application of smart tracking and positioning system for automotive drive shaft processing |
3.28 |
Research and development of hot edge cutting technology for sliding forks of light drive shafts |
0.61 |
Research and development of extruding process for M299 differentials |
1.03 |
Research and development of joint forging process for sliding forks of light drive shafts |
0.83 |
Research and development of key technologies for smart pricise forging of drive shaft components |
1.13 |
Research on new structures of universal fork forgings of drive shafts |
0.82 |
Patent
-By the end of 2017, the Company has 252 patents, including 21 invention patents and 207 utility model patents.
Investment Activities
|
(in million CNY) |
Project |
Budget |
Investment in 2017 (in million CNY) |
Project status |
200 mu light electric screw pressure production workshop |
3.55 |
- |
100% |
Project to generate annual output of 1.8 million sets of high-end lightweight commercial vehicle and construction machinery transmission shafts at Liuzhou Yuanteng plant |
66.52 |
1.03 |
41% |
Project to generate annual output of 1.5 million sets of drive shafts for commercial vehicles |
132.29 |
0.86 |
- |