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Guizhou Guihang Automotive Components Co., Ltd. Business Report FY ended Dec. 2023
Business Results |
(CNY millions) |
| FY ended Dec. 31, 2023 | FY ended Dec. 31, 2022 | Rate of change | Factors | |
| Sales | 2,334.72 | 2,153.26 | 8.43 |
-This was mainly due to increased sales of automotive parts. |
| Operating income | 196.65 | 147.75 | 33.10 | |
| Ordinary income | 195.45 | 143.77 | 35.95 | |
| Net income | 168.88 | 128.69 | 31.23 |
Business Goals and Plans
-The company plans to achieve annual sales of CNY 2.6 billion and total profits of CNY 220 million in 2024.
-It will focus its resources on R&D of smart wiper manufacturing technology, thermal management technology for the “ternary” new energy systems, and electronic device integration technology.
-It will optimize its manufacturing sites in three regions: the Yangtze River Delta, Beijing-Tianjin-Hebei, and the Greater Southwest, to promote industrial development.
-It will plan and build technology R&D centers in Beijing and Shanghai.
R&D expenditure |
(CNY millions) |
| FY ended Dec. 31, 2023 | FY ended Dec. 31, 2022 | FY ended Dec. 31, 2021 | |
| R&D expenditure | 138.13 | 109.89 | 102.54 |
| R&D expenditure as a proportion of sales (%) | 5.92 | 5.10 | 4.28 |
-As of December 31, 2023, the Company had 668 R&D personnel. This represents 17.79% of the total workforce.
-In 2023, all affiliates and subsidiaries invested a total of CNY 11.93 million in technological transformation, improving its manufacturing processes, production efficiency, production safety, quality stability, and reducing production costs.
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