Changchun Yidong Clutch Co., Ltd. Business Report FY ended Dec. 2013
|(in million yuan)|
|FY ended Dec. 31, 2013||FY ended Dec. 31, 2012||Rate of Change
-The Company's heavy vehicle clutches and hydraulic lifting mechanism products increased dramatically, thus, the Company's operating income grew and profits increased.
-In 2013, the Company supplied clutches for Brazilian Volkswagen 1.4T turbocharged engines.
-The Company announced that it will liquidate Changchun Yidong Equipment Manufacturing Co., Ltd., which has been suffering from financial difficulties. Changchun Yidong Equipment Manufacturing was established in October 2004 to produce precision machinery and automotive components. It is capitalized at CNY 1.9 million, of which 52.32 percent was invested by Changchun Yidong Clutch. The company will be deregistered and will be removed from the Group’s financial statements for FY 2013. (From an announcement by the company on December 18, 2013)
Awards-The Company announced that it received the Excellent Supplier Award for 2012 from Beiqi Foton in January 2013. This is the third consecutive year that the company has won this award, which makes it one of the major suppliers to the automaker. (From a press release on March 10, 2013)
-The Company announced that it has passed FAW-VW’s quality testing in August 2012. (From a press release on March 10, 2013)
-The Company’s R&D structure consists of a joint venture, called Jinling Auto Parts R&D Center, comprised of the following 6 entities:
- Jilin University
- Changchun Faway Automobile Components
- Changchun Yidong Clutch Co., Ltd.
- Fawer Automotive Parts Limited Company
- Changchun Xuyang Industry (Group) Co., Ltd.
- Technology Center of China FAW (Group)
R&D Expenditure-The total R&D expenditure in 2013 was CNY 24.73 million, accouting for 3.7% of the Company's sales. (From the Company's 2013 annual report)
-As of August 2012, the Company was awarded 16 patents in total, 3 of them is patents of invention, 13 of them is patents of utility.
Capital investment projects for FY2013
|(in millions of yuan)|
|Project||Budgeted amount||Amount invested in FY2013||Status|
|Increase its capacity to produce 3.6 million units clutches||52.02||0||Under construction|