Seoyon E-Hwa Co., Ltd. (Formerly Hanil E-Hwa Co., Ltd.) Business Report FY ended Dec. 2015
Financial Overview (Consolidated) |
(in millions of won) |
| FY ended Dec. 31, 2015 | FY ended Dec. 31, 2014 (*1) | Factors | |
| Sales | 2,289,404 | 1,124,952 | - |
| Operating income | 118,466 | 60,281 | - |
| Net income | 81,331 | 53,464 | - |
*1: Covers the period between July 1, 2014 and December 31, 2014 due to company split.
New subsidiary
-The Company and Beijing Hainachuan Automotive Parts Co., Ltd. have established two production joint-ventures in China: one in Chonqing; and one in Cangzhou. These companies will supply their products to Hyundai Motor's new vehicle assembly plants in Chonqing and Cangzhou, which are expected to become operational in 2017. The new Chongqing JV will begin plant construction in March 2016, and the new Cangzhou JV is scheduled to begin mass production in October 2016. (From a press release on December 9, 2015)
Contracts
-The Company has been awarded a KRW 128 billion bumper contract from Ford India. The bumpers will be used on 840,000 units of the successor model to the EcoSport compact crossover SUV, which will be sold in India and North America. The contract covers from 2017 through 2021. The bumpers will be produced at the Company's Indian plant. (From a press release on December 15, 2015)
-The Company has received a USD 120 billion contract from Beijing Benz Automotive, under which it will supply headliners for approximately 1.27 vehicles from 2018 through 2027. Daimler is currently developing some new global models based on the MFA2 (Mercedes Benz Front-wheel-drive Architecture 2). Hanil E-Hwa's headliners will be used on three of these models, which will be produced in China. The headliners will be manufactured at the Company's Beijing Plant. (From a press release on October 5, 2015)
Awards and Certifications
-Seoyon E-Hwa Georgia, a U.S. unit of the Company, has received a five-star quality rating from the Hyundai Motor Group. No other interior parts supplier to Kia Motors' Georgia plant has ever earned a five-star rating from the group. (From a press release on May 31, 2016)
R&D structure
-The Company announced that it has held a ceremony to celebrate the completion of Seoyon R&D in Anyang City, Gyeonggi-Do. With nine stories above the ground and two stories below the ground, this center has a total floor area of approximately 20,000 square meters. The facility is expected to serve as an integrated R&D center for the Seoyon Group. (From a press release on May 31, 2016)
-Number of R&D staff: 169 (as of December 31, 2015)
-Central Research Center is located in Asan
-Development Center is located in Ulsan
-Technical Research Center was established in Beijing, China in July 2007
R&D Expenditure |
(in millions of won) |
| FY ended Dec. 31, 2015 | FY ended Dec. 31, 2014 (*1) | FY ended Dec. 31, 2013 | |
| Amount | 32,477 | 17,472 | 28,941 |
| % of Sales | 3.1% | 3.7% | 3.4% |
*1: Covers the period between July 1, 2014 and December 31, 2014 due to company split.
Recent Developments
| Car maker | Model (Development code) |
Products | Project period |
Applications in products |
| FY ended Dec. 31, 2015 | ||||
| Hyundai | Successor model to Equus (HI) | Door trim | Oct. 2013 - Jan. 2015 | Completed |
| Kia (U.S.) |
Successor model to Optima (JFA) |
Door trim |
Jan. 2014 - Sep. 2015 |
Completed |
| Kia (China) |
Successor model to K5 (JFc) |
Bumper | April 2014 - Sep. 2015 | Completed |
| Hyundai | Environmentally friendly model (AE) | Door trim |
May 2014 - Jan. 2015 |
Completed |
| Kia (Europe) | Successor model to Sportage (QLe) | Door trim |
Jan. 2014 - Nov.2015 |
Completed |
| Hyundai |
Successor model to i30 (PD) |
Door trim |
Jan. 2015 - Aug. 2016 |
Under development |
|
Hyundai |
Successor model to i30 |
Door trim |
Jan. 2015 - Dec. 2016 |
Under development |
| Hyundai | HEV (DE) |
Door trim |
Jul. 2014 - March 2016 |
Under development |
Technical partnerships (Licensed-in)
| Partner (Country) |
Product | Content | Term |
| -Kasai Kogyo (Japan) -Sumitomo Chemical (Japan) |
KPM | -Technical guidance on the KPM manufacturing method -Operational procedures for KPM -Technical guidance on the KPM manufacturing method |
Oct. 1995 - Oct. 2015 |
| -Tenryu Industries Co., Ltd. | Lightweight bus seats | -Technology to manufacture lightweight, aluminum seat frames for buses | Jan. 2010 - Dec. 2012 |
Capital Expenditure
-Planned amount of capital investment for 2016: KRW 47,729 million
-Capital investment in 2015: KRW 5,972 million