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Changzhou Guangyang Bearing Co., Ltd. Business Report up until FY ended Dec. 2012
Business Highlights
Developing an Overseas Market
-In 2008, the Company became suppliers which directly sold to Brazil ZF, Eaton and Sweden Haldex. The Company’s products are exported to the United States, Brazil, France, Germany, Sweden, Iran, South Korea, and other countries. (From a press release on April 27, 2012)
Name Change
-In January 2011, shareholders of the Company decided to convert the Company into a shareholding company. The Company’s name was changed to its current name, Changzhou Guangyang Bearing Co., Ltd. and its registered capital increased to a total of 99.96 million yuan. (From the Company's 2012 prospectus of Initial Public Offerings)
Awards
-The Company received the Excellent Supplier Award for 2010 from the transmission departments of China Heavy Duty Truck (Hong Kong) Co., Ltd. and SAIC (Shenyang) Transmission Co., Ltd. (From the Company's 2012 prospectus of Initial Public Offerings)
R&D
R&D Center
-Starting in 2007, the Company has invested 3% of its sales in R&D each year.
-The R&D center was designated as a provincial R&D center.
-The Company owns 28 patents related to the design and manufacturing techniques of bearings.
-The Company has two provincial engineering technology centers – Jiangsu Province Needle Roller Bearings Engineering Technology Research Center and Jiangsu Province Enterprise Technology Center.
R&D Expenses |
(in million yuan) |
| FY ended Dec. 31, 2011 | FY ended Dec. 31, 2010 | FY ended Dec. 31, 2009 | |
| Expenses | 19.60 | 18.44 | 12.93 |
| Sales | 547.65 | 562.47 | 380.36 |
| Ratio | 3.58% | 3.28% | 3.40% |
Investment Activities
Investment
-In 2010, the Company held a shareholders meeting and agreed to raise 33.32 million shares for the following projects.
| Project | Planned investment (in million yuan) | Production Capacity |
|
Constructing production lines to manufacture precision bearings |
306.20 | 50 million units |
| Building a Technical Center | 44.68 | |
| Total | 350.88 |
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