Shanghai Jiao Yun Co., Ltd. Business Report FY2010
Business Highlights
Sales for FY2010
| million yuan | FY2010 | FY2009 | Rate of change | Factors |
| Sales | 5,478.31 | 3,585.72 | 52.78% | - Sales increased year-on-year as a result of the Company's structure adjustment on automotive business and sharply increased demand of car market; the sales of after markets increased 70.96%. |
| Operating profit | 283.98 | 192.74 | 47.34% | - Profit rose year-on-year because of the healthy and stable development of the Company's three main businesses: transportation and logistics, auto parts production and aftermarket service, and cruise service. |
| Ordinary profit | 333.23 | 231.21 | 44.12% | |
| Net profit | 257.88 | 213.32 | 20.89% |
R&D
R&D Activities
-The expenditure on R&D in 2010 increased 20.67% year-on-year.
-The Company applied for 18 patents, and there were several new products which were put into mass production.
Investment Activities
| Project | Planned amount of investment (million yuan) |
Amount invested in 2010 (million yuan) |
% so far invested of the total planned investment amount | Remarks |
| CF6 automatic transmission system project for Shanghai GM |
366.11 | 14.68 | 88.17% | Adding production equipment at Shanghai Jiaoyun Auto Power Components Co., Ltd. |
| Capacity increase project for stamping and welding operations | 457.93 | 7.23 | 5.40% | Adding production equipment at Automobile Parts Branch Company |
| New plant project in Yantai to support Shanghai GM Dong Yue |
189.70 | 30.75 | 53.41% | Adding production equipment at Automobile Parts Branch Company |
| New plant project in Shenyang to support Shanghai GM (Shenyang) Norsom |
173.17 | 36.25 | 70.37% | Adding production equipment at Automobile Parts Branch Company |
Investment to increase production capacity
-On 11 Jan. 2010, the company decided to make a capital investment in Shanghai Jiaoyun Auto Power Components Co., Ltd., its wholly owned subsidiary, in order to increase the production capacity of engine connecting rod assemblies used in small passenger vehicles. The investment project, which will cost 84.30 million yuan, is expected to increase the annual production capacity at the subsidiary to 1.76 million units after it is completed. The con-rod assemblies will be used mainly in Shanghai GM's vehicles powered by 1.6-liter or smaller engines. (From an announcement by the company on January 11, 2010)
-On September 29, the Company decided to increase its capacity to manufacture engine con-rod assemblies at its subsidiary, Shanghai Jiaoyun Auto Power Components Co., Ltd. The subsidiary will produce L850 and the GEN3 con-rods for Shanghai GM's energy-saving and environmentally friendly engines having displacements of 1.6-liters or more. The company is investing 83.61 million yuan in its Jin Qiao Plant located in the Pudong New Area in Shanghai. After the expansion project is completed 1.4 million con-rod assemblies (enough to equip 350,000 vehicles) will be added to the plant's annual production capacity. (From an announcement by the company September 30, 2010)