Shanghai Jiao Yun Co., Ltd. Highlights for FY2007
Business Highlights
Sales for FY2007
Shanghai Intier Jiaoyun Automotive Parts Co., Ltd.
- In April 2007, Shanghai Lomason Automotive Seating Systems Co., Ltd. transferred its production operations to a new manufacturing plant in Anting and adopted a new corporate name, Shanghai Intier Jiaoyun Automotive Parts Co., Ltd. Operations at the new 70,000 square meter facility have already started. The facility is capable of producing 700,000 seat frames per year. The company was established as a joint venture between Shanghai Jiao Yun Co., Ltd. and Intier Automotive of Canada and is capitalized at 125 million yuan. It focuses on the manufacture and sale of seat frames, supplying them mainly to Shanghai VW and Shanghai GM. The production volume at the new factory is expected to reach 400 million yuan per year.
million yuan | FY2007 | FY2006 | Rate of change |
Factors |
Sales | 2,668.53 | 2,276.13 | 17.2% | Sales increased, thanks to the following factors: - the robust automotive industry in China; - greater sales of new products; and - increase in the company's production capacity (Sales of the Company's new products accounted for roughly 30 percent of the total revenue.) |
Operating profit | 150.99 | 153.05 | (1.3%) | Profit was hit by soaring fuels prices, especially at the traffic and transport business. |
Ordinary profit | 164.53 | 158.67 | 3.7% | |
Net profit | 148.87 | 138.22 | 7.7% |
Shanghai Intier Jiaoyun Automotive Parts Co., Ltd.
- In April 2007, Shanghai Lomason Automotive Seating Systems Co., Ltd. transferred its production operations to a new manufacturing plant in Anting and adopted a new corporate name, Shanghai Intier Jiaoyun Automotive Parts Co., Ltd. Operations at the new 70,000 square meter facility have already started. The facility is capable of producing 700,000 seat frames per year. The company was established as a joint venture between Shanghai Jiao Yun Co., Ltd. and Intier Automotive of Canada and is capitalized at 125 million yuan. It focuses on the manufacture and sale of seat frames, supplying them mainly to Shanghai VW and Shanghai GM. The production volume at the new factory is expected to reach 400 million yuan per year.
R&D
R&D projects for FY2007
In 2007, the following products entered the preparatory stage for mass-production:
- CF6 automatic transmission systems, which will be supplied to Shanghai GM
- L850 connecting rods
In 2007, the following products entered the preparatory stage for mass-production:
- CF6 automatic transmission systems, which will be supplied to Shanghai GM
- L850 connecting rods
Investment Activities
Capital investment projects for 2007 (in
million yuan)
- In August 2007, the Company decided to invest 499.39 million yuan to expand its auto parts manufacturing capacity. The company's automotive subsidiary will build an additional stamping plant and a welding facility in the Jinqiao Development Zone. The company will borrow 70 percent of the required funds from a bank and pay the remaining 30 percent from its own resources.
- In September 2007, the Company decided to invest 73.97 million yuan in Shanghai Jiaoyun Auto Power Components Co., Ltd. so as to revamp the subsidiary's production facilities making GEN3 engine connecting rod assemblies.
Project | Planned amount of investment (million yuan) |
Amount invested in 2007 (million yuan) |
% so far invested of the total planned investment amount | Remarks |
Installing production equipment to make CF6 automatic transmission systems | 277.00 | 115.73 | 78.1% | Adding production equipment at Shanghai Jiaoyun Auto Power Components
Co., Ltd. 95 percent of the project has been completed. |
Installing production equipment to make L850 engine connecting rods | 83.61 | 56.84 | 86.3% | Adding production equipment at Shanghai Jiaoyun Auto Power Components Co., Ltd. Preparations are under way for launching mass-production. |
Transferring production operations to new plant in Anting | 76.00 | 5.20 | 114.4% | Transferring production operations that had been carried out at Shanghai Lomason Automotive Seating Systems Co., Ltd.'s production facility to Anting Automobile City. Mass-production at the new plant has already begun. |
Constructing new plant in Baihe |
105.34 | 17.19 | 80.6% | Setting up Shanghai Jiaoyun Automobile Fine Blanking Co.,Ltd.'s new plant in the Qingpu Industry Park. The new facility has already launched commercial production. |
- In August 2007, the Company decided to invest 499.39 million yuan to expand its auto parts manufacturing capacity. The company's automotive subsidiary will build an additional stamping plant and a welding facility in the Jinqiao Development Zone. The company will borrow 70 percent of the required funds from a bank and pay the remaining 30 percent from its own resources.
- In September 2007, the Company decided to invest 73.97 million yuan in Shanghai Jiaoyun Auto Power Components Co., Ltd. so as to revamp the subsidiary's production facilities making GEN3 engine connecting rod assemblies.