Shanghai Jiaoyun Group Co., Ltd. Business Report FY ended Dec. 2018
Sales for FY2018 |
(in million CNY) |
| FY ended Dec. 31, 2018 | FY ended Dec. 31, 2017 | Rate of change | Factors | |
| Sales | 9,669.45 | 9,315.05 | 3.80% | -Sales declined dramatically due to raised prices of raw materials and fierce competition. |
| perating profit | 378.55 | 598.14 | -36.71% | |
| Ordinary profit | 464.63 | 600.29 | -22.60% | |
| Net profit | 373.98 | 498.57 | -24.99% |
Acquisition
-Shanghai Jiaoyun Group Co., Ltd. announced on November 13, 2017, that the company is going to acquire 10% shares in Shanghai Jiaoyun Bashi Public Transportation Group Co., Ltd. at Chinese yuan (CNY) 87.70 million to make it a wholly-owned subsidiary of the company. (From a corporate announcement on November 13, 2017)
Domestic Investments
-Shanghai Jiaoyun Auto Power Components Co., Ltd. said on July 13, 2017, that its fully-owned subsidiary, Yantai Zhongrui Automobile Parts Co., Ltd., will invest Chinese yuan (CNY) 73.52 million to take on a project to renovate its facilities to make CSS & CVG engine con rod assemblies. The company currently has seven engine con rod production lines with a combined annual production capacity of 8.7 million units. According to the production plan of Shanghai General Motors Co., Ltd., the market will need 10 million con rods in three years from 2021 to 2023. The company will revamp one of the seven production lines to focus on CVG engine con rod production. Also, it will build one additional production lines for CSS engine con rod production. The two new production lines will allow the company to boost its annual production capacity to 10.08 million units, enough to meet the needs of Shanghai GM. The construction works will start in August 2017, small lot production in December 2018, and full production in January 2019. (From a corporate announcement on July 13, 2017)
-Shanghai Jiao Yun Group Co., Ltd. said on July 13, 2017, that its fully-owned subsidiary, Shanghai Jiaoyun Automobile Fine Blanking Co., Ltd, would invest Chinese yuan (CNY) 75.04 million to increase metal pipe production. With this new investment, the company will gain an additional annual production capacity of 1.4 million straight pipes, 0.1 million bent tubes, and 1.8 million hydraulic pipes. Shanghai Jiaoyun Automobile Fine Blanking is an automotive parts manufacturer with a registered capital of Chinese yuan (CNY) 120 million. It supplies products mainly to Shanghai GM and SAIC Motor. As of the end of 2016, sales amounted to CNY 683.35 million and profits of CNY 17.64 million. (From a corporate announcement on July 13, 2017)
R&D Expenditure
| FY ended Dec. 31, 2018 (million CNY) |
FY ended Dec. 31, 2017 (million CNY) |
FY ended Dec. 31, 2016 (million CNY) |
|
| R&D Expenditure | 90.64 | 82.50 | 73.16 |
| Ratio of R&D expenses to operating income | 0.94 | 0.89 | 0.86% |
Investment
|
(in million CNY) |
| Project | Budget | Investment in 2018 | Project progress |
| NGC engine connecting rod assembly technical transformation project | 102.37 | 2.23 | 100.00% |
| GFx automatic transmission shift mechanism technical transformation project | 220.45 | 29.60 | 63.73% |
| GFe hybrid transmission assembly component technical transformation project | 58.86 | 6.32 | 61.16% |
| 9BLB & 9BJB body welding technology transformation project | 31.51 | 0.39 | 79.47% |
| GFX precision stamping parts project | 24.26 | 1.62 | 100.00% |
| CVT assembly component technical transformation project | 49.87 | 3.83 | 53.14% |
| Capacity expansion for balance axis of Great Wall Motor, Geely, Foton | 39.42 | 0.12 | 100.00% |
| Metal tube R&D and production | 75.04 | 33.45 | 65.43% |
| GEM platform project | 39.15 | 21.29 | 91.21% |
| Passenger car body automation high-speed molding production technology transformation project (Baihe project) | 259.62 | 0.52 | 100.00% |
| AS22 (Nanjing project) front buffer beam assembly & instrument bracket assembly | 11.37 | - | 100.00% |
| CSS balance axis assembly technical transformation | 28.17 | 4.49 | 39.97% |
| Geely GEM3 balance axis modular assembly | 9.05 | 5.52 | 76.02% |
| EE033 project | 7.42 | 2.19 | 90.00% |
| Threshold plate assembly project for SGM OEMGA | 15.56 | 1.72 | 100.00% |
| Changan Ford F6 automatic transmission shift mechanism technical transformation project | 116.76 | - | 100.00% |
| E2 lower beam of water tank assembly technical transformation | 11.38 | 8.53 | 66.00% |
| GF-6 automatic transmission shift mechanism technical expansion project | 150.56 | 0.38 | 100.00% |
| CSS&CVG engine connecting rod assembly technical transformation | 73.52 | 42.89 | 58.36% |
| CVT additional equipment project | 35.19 | 17.12 | 76.73% |