Shanghai Aerospace Automobile Electromechanical Co., Ltd. (SAAE) Business Report FY ended Dec. 2012
|(In million yuan)|
- Decrease in the price of new energy photovoltaic (PV) prodcuts leads to the decrease of the Company's profit
-The Company decided to sell its 17.4 percent share of Chengdu Space Mould & Plastic Co., Ltd on Aug 24, 2012. The Company signed the transaction contract with Sichuan Aerospace Industry Group Co., Ltd on January 4, 2013. The assessed value of the transfer is 80.04 million yuan. (From the Company's 2012 Annual Report)
- The Company will sell all its shares in Air-conditioner International (Shanghai) Co., Ltd. which is now included in the company's consolidated financial statements, and pull out of the business conducted at the subsidiary. (From an announcement by the company, April 29, 2011)
-The Company will supply vehicle air-conditioning systems and sensors for BMW and Peugeot Citroen. The Company has signed a technology development and supply agreement with customers for brushless EPS. Bus brushless condenser fan and evaporator fan project has finished bidding for equipment and enter into construction stage..All equipment of Peugeot Citroen Group (PSA) fuse box project is ready and has passed the customers' verification. Mass production is expected in 2013.(From the Company's 2012 annual report)
Restructuring- The Company，which had announced establishment of a new company, Automotive Electronics Branch Company, by consolidating its three existing subsidiaries（Sensor Branch, which produces ABS sensors; Shuhang Electric Equipment Branch, which produces automotive-air-conditioner evaporator blowers; and Shanghai Xinguang Automotive Electrical Equipment Co., Ltd., which produces electronic parts.）in Jinqiao, Shanghai, has now decided to make Shanghai Xinguang Automotive Electrical Equipment, one of the three subsidiaries, its wholly owned subsidiary prior to the integration. Based on negotiations between SAAE and Shanghai Liuli Enterprise Development Co., Ltd., which currently holds a 30 percent share in Shanghai Xinguang Automotive Electrical Equipment, Shanghai Liuli Enterprise Development has agreed to withdraw from the joint venture business, reducing its capital. (From an announcement by the company, February 17, 2011)
- The Company conducts R&D activities for air conditioners(National Delphi Automotive Air Conditioning R&D center), solar energy, and composite materials at respective research centers specially designed to cover each area.
- In the high-end auto parts and new materials industry, the Company made progress in EPS systems, brushless motors, lightweight parts. The Company debuted the miniature short-range pure electric vehicle developed jointly with Tongji University at the 2012 Beijing auto show. (From the Company's 2011 annual report)
-The R&D expenditure accounts to 87 million yuan in 2012.
-The new technology production lines of EPS, ABS and brushless motors are under construction.
-The Company accelerates product development of automotive electronic systems and industrial process and has signed a technology development agreement with OEMs for brush EPS.
-The Company has signed an agreement with Delphi for air conditioning controller development.
-Bus fan project will be put into operation in 2013.
-Brush EPS project will enter into start of operation(SOP) in the beginning of 2014.
-The ABS system will be put into operation by the end of 2015. (From the Company's 2012 annual report)
-The automotive oxygen sensor project has been completed in 2011 and the BCM project has been frozen research and development.
Capital Investment Projects for 2012
|(In million yuan)|
|Project||Amount invested in FY2011||Status|
|Developing EPS power steering||35.96||will put into market in 2014|
Developing active wheel speed sensor for BMW F30/F35
|10.25||put into operation|
|6.57||will put into production at the end of 2015|
Developing new products of high efficient battery and components