CHANGZHOU NRB CORPORATION Business Report FY ended Dec. 2018
|(in million CNY)|
|FY ended Dec. 31, 2018||FY ended Dec. 31, 2017||Rate of Change (%)||Factors|
-Affected by factors such as increased industry differentiation, rising production and raw material costs, the Company's 2018 sales decreaed, which led to decrease in operating income.
|Net profit||(90.40)||12.06||-||-Goodwill impairment
-Reduction of government subsidies
-On November 10, 2018, a controlling shareholder of the Company, Changzhou Guangyang Holding Group Co., Ltd., has signed a memorandum of understanding with Oriental Fortune Capital Co., Ltd. on the share transfer plan. Under the agreement, Oriental Fortune Capital will acquire 100% shares in a subsidiary of Changzhou Guangyang Holding at CNY 150 million. The two companies are going to sign an official share transfer agreement in late February or early March. (From a press release on January 31, 2019)
-Recently, the Company became a localized supplier of sliding bearings for Beijing Benz M254 project. (From a corporate announcement on March 31, 2019)
-The Company announced on April 14, 2018, that the company is going to develop and manufacture ten kinds of bearings and components of Scania GW transmissions for SKF as a designated supplier of the Swedish company. Changzhou NRB will start developing the products while initiating preparatory work following SKF's detailed product development progress and original samples. (From a corporate announcement on April 17, 2018)
|(in million CNY)|
|FY ended Dec. 31, 2018||FY ended Dec. 31, 2017||FY ended Dec. 31, 2016|
|Ration of total sales (%)||4.67||3.74||4.14|
-At the end of 2018, the Company had 370 R&D staff.
-The Company has provincial engineering and technology centers, the “Jiangsu Needle Roller Bearing Engineering Research Center” and “Jiangsu Province Enterprise Technology Center”. The Technology Center consists of six departments including Product Research Institute, Technology Research Institute, Equipment Research Institute, Information Research Institute and Test Center, in which the test center gets the certificates of China National Accreditation Service for Conformity Assessment (CNAS).
-In 2018, the Company newly increased 29 patents, including 5 invention patents and 24 utility model patents. Up to now, the Company has 253 valid patents, including 38 invention patents, 213 utility model patents and 2 appearance patents
Capital Investment Projects
|(As of Dec. 31, 2018)|
|Projects||Planned amount of investment
|Amount invested in 2018
|Automotive Precision Bearing Construction||306.20||0.10||49.77%|
|Machine tool restructuring||-||3.69||-|