Shandong Binzhou Bohai Piston Co., Ltd. Business Report FY ended Dec. 2015
|(in million yuan)|
|FY ended Dec. 31, 2015||FY ended Dec. 31, 2014||Rate of increase (%)||Factors|
|Sales||1,025.11||1,178.80||-||-The Company's sales volume declined in 2015, thus, annual sales declined in 2015.
-The Company announced that it has received a contract to supply 2 types and 70 sets each of aluminum pistons to Deutz of Germany. Assembly of these products has already begun. In addition, the company is developing forged steel pistons for Deutz, planning to begin mass production in 2018. (From news releases issued by multiple sources on March 31, 2016)
-In 2015, the Company acquired exclusive right to supply for FAW Volkswagen and Shanghai Volkswagen. The annual number of delivery break 1 million units. The Company supplied to SGMW Baojun SUV560 exclusively. The Company also participated in the R&D of pistons for Great Wall 2.0T/3.0T, BYD 1.5T/2.0T, Chery 1.6T/2.0L, Geely 1.3T/1.8T, Brilliance Auto 1.5T, Haima Motor 1.0T/1.5T, etc. (From the Company’s 2015 annual report)
-The Company announced that it will supply its engine pistons for the Baojun 560, a first family SUV from SAIC-GM-Wuling. The company will also be the sole piston supplier for the Baojun 730 with 1.8-liter engines. (From a press release on August 24, 2015)
-In 2015, the Company acquired exclusive right to develop new products for SAIC Fiat Hongyan Powertrain Limited , which achieved full range of heavy-duty diesel engines in volume production.(From the Company’s 2015 annual report)
-The Company announced that it has been awarded a contract to supply its YC4F90-23 pistons for 106 units of Hiace vans produced by Xiamen King Long Motor. These vans will be exported to South America. (From a press release on July 3, 2015)
-The Company announced that it will invest CNY 208 million in Beijing New Energy Vehicle Co., Ltd. from its own fund of CNY 532.48 million. Beijing New Energy Vehicle was established in 2009. It produces and sells power modules for EVs, HVs, and new energy vehicles. Beijing New Energy Vehicle is inviting investments, aiming to increase its capital to CNY 3,200 million from the current CNY 2,000 million. After the transactions, Shandong Binzhou Bohai Piston will hold a 6.5% share in Beijing New Energy Vehicle. (From an announcement by the company on March 8, 2016)
-The Company announced that it will invest a total of CNY 2,321 million to acquire 100% of Hainachuan (Binzhou) Engine Parts Co., Ltd., which is affiliated with Beijing Hainachuan Automotive Parts Co., Ltd., and 49% of Taian Qicheng Wheel Manufacturing Co., Ltd. The company will do so by issuing 219 million new shares (worth CNY 9 per share) to raise its capital. The amount will be added to CNY 348 million to be spent in cash. Prior to this acquisition, Beijing Hainachuan transfered the 51% share it has in Taian Qicheng Wheel Manufacturing, 40% share in Inergy Automotive Systems (Beijing) Co., Ltd., 20% in Hanon, 35% share in Tenneco (Beijing) Ride Control System Co., Ltd., and 49% share in Tenneco (Beijing) Exhaust System Co., Ltd. to Hainachuan (Binzhou) for free. Subsequently, Beijing Hainachuan will acquire the new Hainachuan (Binzhou) to expand its business. (From a press release on February 5, 2016)
-In 2015, the Company announced that it has won the following awards from car makers:
- Excellent Localization Award from FAW Car
- a supplier award from FAW-VW；
- Excellent Supplier Award and Supplier of the Monthfrom BYD.
-In 2015, the Company announced that it has won the following awards from suppliers:
Outstanding Contribution to Production Management Award 2015 from Beijing Hainachuan Automotive Parts Co., Ltd.;
2015 Excellent Quality Award from Yuchai Machinery (Guangxi) Group Co., Ltd.
Supplier of the Year Award from Kunming Yunnei Power Co., Ltd.；
Excellent Supplier Award, the Best Quality Award, the Simultaneous Development Award, and the Excellent R&D Partner Award from Weichai Group;
Excellent Supplier Award from Isuzu Engine (Jiangxi) Co., Ltd.;
Quality Contribution Award 2015 from both JAC Engine Company and JAC Navistar Diesel Engine.
Business Plan for Next Year
-In 2016, the Company plans to reach 1.3 billion sales. (From the Company's 2015 annual report)
-The Company owns a national level technical center for developing pistons. The Company established only one national technology center, National Recognized Testing Laboratory and enterprise postdoctoral working station. With the synchronized R&D, test and evaluation, the Company's many invention patents and new products reached advanced international level.
-In 2015, the Company applied 11 utility model patents and 3 invention patents.
|FY ended Dec. 31, 2015
|FY ended Dec. 31, 2014
|FY ended Dec. 31, 2013
|Ratio of R&D expenses to operating income||4.96%||5.06%||4.11%|
Capital Investment Projects for FY2015
|(in million yuan)|
|Project||Planned amount of investment||Investment made in 2015||Project progess|
|Annual output of 8 million pistons construction project for luxury cars||392.41||96.74||76.52%|
|Annual output of 400,000 high reinforced steel forged pistons construction project for cars||273.66||10.99||21.60%|
|Annual output of 2 million pistons construction project for aluminum high-power diesel engine||298.39||41.70||60.76%|