[Gen-AI Analysis] Changzhou Guangyang Bearing Co., Ltd. Business Report FY ended 2013 - MarkLines Automotive Information & Gen-AI Platform

Changzhou Guangyang Bearing Co., Ltd. Business Report FY ended Dec. 2013

Business Highlights

Financial Overview

(million yuan)

	FY ended Dec. 31, 2013	FY ended Dec. 31, 2012	Rate of change
Sales	580.56	555.62	4.45%
Operating profit	60.88	65.93	(7.66%)
Ordinary profit	62.52	70.43	(11.23%)
Net profit	53.39	58.94	(9.42%)

Awards

<2011>
-The Company was awarded "Excellent Supplier" from GETRAG.
-The Company was awarded "Excellent Supplier" from FAW Jiefang.

-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.

<2010>
-The Company was awarded "A Class Quality Supplier " from Shanghai Transmission Co., Ltd.
-The Company was awarded "Excellent Supplier" from Shaanxi Fast Auto Drive Group Company.
-The Company was awarded "Excellent Supplier" from Qijiang Heavy Duty Truck Gear Co., Ltd.

<2009>
-The Company was awarded "Excellent Quality Supplier" from Dongfeng Motor Transmission Co., Ltd.

Business Plan for Next Year

-In 2014, the Company plans to increase 10 to 30 percent sales and net profit.

R&D

R&D Expenditure

(in million yuan)

	FY ended Dec. 31, 2013	FY ended Dec. 31, 2012	FY ended Dec. 31, 2011
R&D Expenditure	18.88	18.54	19.60
Ration of total sales (%)	3.25	3.34	3.58

R&D Facility

-The Company has two provincial engineering technology centers – Jiangsu Province Needle Roller Bearings Engineering Technology Research Center and Jiangsu Province Enterprise Technology Center. The technology center has six departments, namely, products research institute, technology institute, equipment research institute, information institute and test center. Test center has passed China National Accreditation Service for Conformity Assessment (CNAS). (From the Company's 2013 annual report)

-As of Dec. 31, 2013, the Company has 242 R&D engineers. (From the Company's 2013 annual report)

Patents

-In 2013, the Company was awarded 2 patents and applied 8 new patents, 3 of them are invention patents. (From the Company's 2013 annual report)

Investment Activities

Capital Investment Projects

(As of Dec. 31, 2013)

Projects	Planned amount of investment (million yuan)	Amount invested in 2013 (million yuan)
Auto precision bearing production line construction	306.20	13.89
Equipmensto be installed	-	3.10
Restructuring of machine tools	-	3.92
Bearing assembly line	6.00	1.07
Plant construction in Silian	25.50	8.74
Construction of Tianhong substation	1.80	1.06
Total	339.50	31.79