Dongfeng Electronic Technology Co., Ltd. (DETC) Business Report FY ended Dec. 2021
Financial Overview |
(CNY millions) |
| FY ended Dec. 31, 2021 | FY ended Dec. 31, 2020 | Rate of Change (%) | Factors | |
| Sales | 7,861.18 | 7,525.06 | 4.47 | -The Company's new carbon canister and exhaust system business added in 2021 performed well to offset the impact of adverse factors such as the COVID-19 epidemic and higher raw material prices, resulting in modest sales growth. |
| Operating income | 480.47 | 404.44 | 18.80 | |
| Ordinary income | 483.49 | 315.50 | 53.25 | |
| Net income | 435.17 | 278.57 | 56.22 |
Assets restructuring
-Dongfeng Motor Parts And Components Group Co., Ltd., a subsidiary of Dongfeng Motor Corp. that controls the parts business, completed the transfer of shares in the following nine companies to Dongfeng Electronic Technology Co., Ltd. (DETC) for the purpose of asset reorganization.
- 50% of Dongfeng MAHLE Thermal Systems Co., Ltd., a joint venture with Mahle for thermal management systems
- 50% of Shanghai Fleetguard Filter Co., Ltd., a joint venture with Cummins that handles filters
- 50% of Dongfeng Fuji Thomson Thermostat Co., Ltd., a joint venture with Stant, a U.S. fluid thermal management systems company
- 90% of Shanghai Dongsen Real Estate Co., Ltd.
- 50% of Dongfeng Faurecia (Xiangyang) Exhaust System Co., Ltd., a joint venture with Faurecia, a manufacturer of exhaust system components
- 50% of Dongfeng Faurecia Exhaust Control Technology Co., Ltd., a joint venture with Faurecia
- 40% stake in Federal-Mogul Dongfeng (Shiyan) Engine Components Co., Ltd. that develops, produces and sells pistons
- 30% of Dongfeng FAWER Pump Co., Ltd., a joint venture with leading Chinese supplier FAWER
- 30% of Cooper-Standard Dongfeng Automotive Parts Co., Ltd., a joint venture with Cooper Standard
Business plan
-The company forecasts sales of CNY 8,656,990,000 in 2022.
R&D Expenditure |
(CNY millions) |
| FY ended Dec. 31, 2021 | FY ended Dec. 31, 2020 | FY ended Dec. 31, 2019 | |
| R&D Expenditure | 245.74 | 226.27 | 215.11 |
| Ratio of R&D expenses to sales (%) | 3.13 | 3.28% | 3.29% |
-As of Dec. 31, 2021, the Company has 458 R&D staff, accounting for 9.8% of all staff.
R&D Facility
-The Company has five technology centers, namely, Shanghai Technology R&D center, Instrumentation and Body Electronics R&D center, Braking and Chassis Electronics R&D center, Trim Systems R&D center, and Die Castings R&D center.
R&D Activities
-Dongfeng Technology Center and Dongfeng Electric Drive Systems Co., Ltd., which develops drive system components, have developed the D760 intelligent cockpit, the D600 electric drive system, the G59 intelligent cockpit domain controller and BSG motor for Dongfeng Commercial Vehicles and Dongfeng Passenger Vehicles, and started in-depth research on technologies related to ADAS sensing system, while undertaking instrumentation development projects for new models of Shaanxi Heavy Duty Automobile, Beiqi Foton and SAIC Hongyan.
-Donfeng Yanfang, a joint venture with Yanfeng Automotive Trim Systems Co., Ltd., a major automotive interior parts company, and Zhanjiang DENI Vehicle Parts Co., Ltd., which develops and manufactures carburetors, have established trim parts and casting technologies for supply to Dongfeng Commercial Vehicles, Dongfeng Passenger Vehicles, and Voyah Automobile as well as Nissan, Honda, Toyota, and other OEMs.
-In terms of new energy business expansion, the company has explored customers such as XPeng Motors and Voyah Automobile. It has completed the localized production of e-POWER electric drive systems, conducted R&D of related die-casting products, enhanced production capacity and started production. (From Annual Report 2021)