Shanghai Aerospace Automobile Electromechanical Co., Ltd. (SAAE) Business Report FY ended Dec. 2014
Financial Overview
(in million yuan)
| FY ended Dec. 31, 2014 | FY ended Dec. 31, 2013 | Difference(%) | Factors | |
| Sales | 3,786.81 | 3,358.87 | 12.74 |
-The Company expanded overseas emerging markets and boosted sales in China and overseas as well. |
| Operating profit | 46.90 | 169.95 | (72.40) |
- |
| Ordinary profit | 72.20 | 197.54 | (63.45) | |
| Net profit | 47.99 | 187.56 | (74.41) |
Contracts
-In 2014, 14 projects of the Company were put into mass production, including SAIC AP1X fuse boxes, Autolive's ABS sensors.
-In 2014, the Company got two new customers, Jiangsu Kaiwei and Jiangxi Isuzu. The cooperation with Jiangxi Isuzu was the first time for the Company to cooperate with Japanese car makers, so as to expand a new market for the wheel speed sensors.
Business Plan for Next Year
-In 2015, the Company plans to reach CNY 4 billion sales and CNY 300 miliion ordinary profit . (From the Company's 2014 annual report)
R&D Structure
-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.
R&D Expenditure
| FY ended Dec. 31, 2014 (million yuan) |
FY ended Dec. 31, 2013 (million yuan) |
FY ended Dec. 31, 2012 (million yuan) |
|
| R&D Expenditure | 123.44 | 89.03 | 87.44 |
| Ratio of R&D expenses to operating income | 3.26% | 2.65% | 5.72% |
R&D Expenditure Projects for 2014 |
(in million yuan) |
| Project |
R&D Expenditure Projects for 2014 |
| Developing EPS power steering | 16.27 |
| Developing brushless motor series | 2.52 |
| Developing ABS | 9.49 |
| Developing central cable connectors | 4.67 |
| Developing new products of high efficient battery and components | 2.58 |
| Developing car fans | 0.22 |
| Developing plastic clutch slave cylinders | 1.84 |
| Developing active ABS wheel speed sensors | 1.03 |
| Developing plastic clutch master cylinders | 0.67 |
Patents
-In 2014, the Company was awarded 66 patents in total, 23 of them is patents of invention. The Company had new 33 authorized patents in 2014. (From the Company's 2014 annual report)
Product Development
-In 2014, the Company had 10 developing projects. The Company finished the A prototype of EPS system, and the road test of B prototype.
Capital Investment Projects |
(As of Dec. 31, 2014) |
| Projects | Planned amount of investment (million yuan) |
Amount invested in 2014 (million yuan) |
Construction status |
| The establishment of the assembly line of brush motors for EPS system | 29.96 | 11.21 | 95% |
| The establishment of the production line of brushless motors for EPS system | 126.14 | 7.74 | The early stage |