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  5. Changchun Yidong Clutch Co., Ltd. Business Report FY ended Dec. 2014

Changchun Yidong Clutch Co., Ltd. Business Report FY ended Dec. 2014

Financial Overview

(in million yuan)
FY ended Dec. 31, 2014 FY ended Dec. 31, 2013 Rate of Change
(%)		 Factors
Sales 668.68 667.49 0.18%
-The Company's heavy vehicle clutches and hydraulic lifting mechanism products increased dramatically, thus, the Company's operating income grew and profits .
Operating profit 58.71 43.58 34.72%
Ordinary profit 63.79 52.64 21.18%
Net profit 55.16 44.68 23.46%

 

Business Plan for Next Year

-In 2015, the Company plans to reach 733.70 million sales. (From the Company's 2014 annual report)

R&D Structure

-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

FY ended Dec. 31, 2014
(million yuan)		 FY ended Dec. 31, 2013
(million yuan)		 FY ended Dec. 31, 2012
(million yuan)
R&D Expenditure 27.89 24.73 19.64
Ratio of R&D expenses to sales 4.17% 3.7% 3.26%

 

Technological Alliance

-The Company cooperated with Jilin University to develop dry and wet double clutches.

Data

Number of Employees

Division FY ended Dec. 31, 2014 FY ended Dec. 31, 2013 FY ended Dec. 31, 2012
Production 714 646 660
Sales 39 60 93
Engineering 249 209 149
Finance 20 19 8
Administration 85 88 108
Total 1,107 1,022 1,018

 

Sales

 (in million yuan)
FY ended Dec. 31, 2014 FY ended Dec. 31, 2013 FY ended Dec. 31, 2012
Sales 668.68 667.49 602.71

 

Sales by Product

(in million yuan)
FY ended Dec. 31, 2014 FY ended Dec. 31, 2013 FY ended Dec. 31, 2012
Automotive parts 665.12 653.41 587.78
Other products 13.56 14.08 14.93

 

Sales of Automotive Clutch Assemblies to China-FAW Group

(in million yuan)
FY ended Dec. 31, 2011 FY ended Dec. 31, 2010 FY ended Dec. 31, 2009
Clutch products 321.43 415.55 206.12

Percentage of clutch sales out of total sales

 43.74% 59.05% 52.7%

 

Sales by Geographic Region

(in million yuan)
FY ended Dec. 31, 2014 FY ended Dec. 31, 2013 FY ended Dec. 31, 2012
Northeast China 342.51 347.16 329.66
East China 104.66 129.91 85.60
South China 31.37 35.98 37.96
North China 78.12 59.63 53.67
Other areas Central China 16.92 72.76 73.62
Northwest China 1.01
Southwest China 60.40
Export
(Main country to which products are exported: Russia)		 20.13 7.97 7.17

 

Sales of Main Subsidiaries

 (in million yuan)
FY ended Dec. 31, 2014 FY ended Dec. 31, 2013 FY ended Dec. 31, 2012
Sales Operating profit Net profit Sales Operating profit
 Net profit
 Net profit
Changchun Yidong Automobile Components Manufacturing Co., Ltd. 172.53 36.72 31.90 157.70 30.32 29.54 17.79
Shenyang Yidong Four Rings Clutch Co., Ltd. 76.12 7.34 5.32 66.08 4.25 3.03 6.57

 

Production Volume by Products

 (in thousands)
Products Production facility FY ended Dec. 31, 2014 FY ended Dec. 31, 2013 FY ended Dec. 31, 2012
Clutch covers, clutch discs Shenyang Yidong Four Rings Clutch Co., Ltd. 598 - -

Source : China Automotive Industry Yearbook