Financial Overview
|
(in million yuan) |
|
FY ended Dec. 31,2014 |
FY ended Dec. 31,2013 |
Rate of increase (decrease) |
Factors |
| Sales |
9,828.88 |
9,262.16 |
6.12% |
-
|
| Operating profit |
812.15 |
634.98 |
27.90% |
| Ordinary profit |
887.92 |
697.96 |
27.22% |
| Net profit |
782.25 |
603.61 |
29.60% |
Acquisition
-In June 2014, A123 Systems, a wholly owned subsidiary of the Company, completed the transactions to acquire battery-related technology from Leyden Energy. Leyden's intellectual property in battery materials covering lithium titanate and non-flammable electrolyte technologies is expected to complement A123's expertise in lithium iron phosphate (LFP), a nano-scale material. As part of the deal, key technical staff of Leyden would join A123 Systems' R&D division. (From a press release on June 25, 2014)
-In Feb. 2014, the Company was approved by U.S. bankruptcy court that it won the bidding for Fisker Automotive, an electric vehicle manufacturer in the U.S.
Transfer of Shares
-In November 2014, the Company announced that it has signed a contract with Zhejiang Founder Motor Co., Ltd. to transfer the entire 57.9 percent shareholding in Hubei Qianchao Auto Parts Co., Ltd. to Zhejiang Founder Motor. Hubei Qianchao Auto Parts develops, produces and sells automotive wiper assemblies, brake valves, and other components. It generated CNY 83.7 million in sales and CNY 12.8 million in net profit during 2013. (From an announcement by the company on November 28, 2014)
-The Company announced that Harbin Wanxiang Hafei Auto Chassis System Co. ,Ltd., its subsidiary, would absorb Harbin Wanxiang Automotive Parts Co., Ltd. into its own operations. Harbin Wanxiang Automotive Parts, which is Harbin Wanxiang Hafei Auto Chassis System's wholly owned subsidiary, would no longer be an independent company after the absorption. Harbin Wanxiang Hafei Auto Chassis System develops, produces, and sells suspension parts assemblies and other chassis products. It is owned 65 percent by Wanxiang Qianchao and 35 percent by Harbin Aircraft Industry (Group) Co. Ltd. (From an announcement by the company on November 28, 2014)
Dissolution
-In November 2014, the Company announced that it would dissolve and liquidate Ningbo Qianchao Auto Parts Co., Ltd., its wholly owned subsidiary. Ningbo Qianchao Auto Parts produces and sells automotive components and dies. Its sales reached CNY 118.10 million in 2013. (From an announcement by the company on November 29, 2014)
R&D Expenditure
|
(in million yuan) |
|
FY ended Dec. 31, 2014 |
FY ended Dec. 31,2013 |
FY ended Dec. 31,2012 |
| R&D Expenditure |
426.99 |
359.26 |
332.51 |
| Ratio of sales (%) |
4.34% |
3.88% |
3.99% |
R&D Facility
| Name |
Wanxiang Technical Center |
| Year established |
1994 |
| Overview |
-The center conducts R&D activities for all the companies under the Wanxiang Group.
-In Nov. 2003, its automotive product laboratory was authorized by the China Quality Certificate Center (CQC) as a contracted CQC testing facility. This enabled the Company to carry out testing of its products based on CCC (China Compulsory Certification) by itself. Qualified products for self-testing include six kinds of automotive components: brakes, drive shafts, CVJ shafts,; universal joints, shock absorbers, and wheel bearings. |
Patents
-As of Dec. 31, 2014, the Company has 252 patents altogether.
