Shanghai Jiaoyun Group Co., Ltd. Business Report FY ended Dec. 2016
Sales for FY2016 |
(million CNY) |
| FY ended Dec. 31, 2016 | FY ended Dec. 31, 2015 | Rate of change | Factors | |
| Sales | 8,464.82 | 8,210.93 | 30% | -The sales volume of the main customers was lower than expected. -The replacement of new and old products, and the sales of new products cannot make up the replacement of old products. |
| perating profit | 372.14 | 407.13 | (34.99%) | |
| Ordinary profit | 453.32 | 499.11 | (45.79%) | |
| Net profit | 354.52 | 393.86 | (39.34%) |
-The revenue of auto parts manufacturing and after-sales service in 2016 reached 3.08 billion yuan, increased 0.87% year-on-year.
Recent Development
-The Company announced that its subsidiary Shanghai Jiaoyun Auto Power Components Co., Ltd. will invest CNY 58.86 million to retool its production lines to manufacture major components for GFe hybrid transmissions. Products that are manufactured on the new lines will be used in energy-saving, high-performance hybrid transmissions for Shanghai GM vehicles. The new lines will be capable of producing 97,000 units per year, enough to meet the requirements from Shanghai GM. The subsidiary acquired new production equipment in August 2016, and aims to begin mass production in June 2018 and to reach full-scale production in 2020. (From an announcement by the company on September 6, 2016)
R&D Expenditure
| FY ended Dec. 31, 2016 (million CNY) |
FY ended Dec. 31, 2015 (million CNY) |
FY ended Dec. 31, 2014 (million CNY) |
|
| R&D Expenditure | 73.16 | 68.26 | 78.19 |
| Ratio of R&D expenses to operating income | 0.86% | 0.83% | 0.88% |
Investment
|
(in million CNY) |
| Project | Budget | Investment in 2016 | Project progress |
| NGC engine connecting rod assembly technological transformation project | 102.37 | 41.83 | 83.86% |
| GFx automatic transmission shift mechanism technical transformation project | 220.45 | 14.84 | 40.76% |
| Balance shaft expansion project for Great Wall, Geely and Fukuda | 49.62 | 25.69 | 75.21% |
| E2SB & E2UL body welding technology transformation project | 34.54 | 28.77 | 83.00% |
| Passenger car body automation high-speed molding production technology transformation project (Baihe project) | 259.62 | 10.42 | 97.21% |
| 9BLB & 9BJB body welding technology transformation project | 31.51 | 23.64 | 75.04% |
| Car body assembly production base project (Cao Road project) | 299.96 | 12.25 | 95.00% |
| GFX precision stamping parts project | 24.26 | 0.82 | 98.15% |
| Threshold plate assembly project for SGM OEMGA | 15.56 | 0.24 | 75.37% |
| ERP enterprise resource management system | 11.83 | 9.35 | 90.00% |
| AS22 (Nanjing project) front buffer beam assembly & instrument bracket assembly | 11.37 | 5.63 | 49.54% |
| EE033 project | 7.42 | 4.02 | 54.00% |
| GF-6 automatic transmission shift mechanism technical expansion project | 150.56 | 1.28 | 100.00% (equipment commissioning) |
| Small displacement engine connecting rod assembly expansion and flexible production technology transformation project | 114.84 | 0.05 | 99.00% |
| Changan Ford F6 automatic transmission shift mechanism technical transformation project | 116.76 | 8.97 | 100.00% (equipment commissioning) |
| K211 project and its expansion project | 25.88 | 0.73 | 99.00% |
| Yantai engine connecting rod assembly production base technological transformation projects | 176.42 | 0.10 | 99.00% |
| Baosteel Zhanjiang Iron and Steel production logistics and warehousing maintenance base project | 160.00 | 0.14 | 10.22% |
| E2 body parts project | 88.79 | 9.40 | 100.00% |
| G3 connecting rod line relocation project | 9.20 | 1.80 | 100.00% |