Seoyon E-Hwa Co., Ltd. (Formerly Hanil E-Hwa Co., Ltd.) Business Report FY ended Dec. 2016

Financial Overview (Consolidated)

(in millions of won)
FY ended Dec. 31, 2016 FY ended Dec. 31, 2015 Rate of change (%) Factors
Sales 2,402,877 2,289,404 5.0 -
Operating income 107,825 118,466 (9.0) -
Net income 93,906 81,331 15.5 -

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: 153 (as of December 31, 2016)
-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, 2016 FY ended Dec. 31, 2015 FY ended Dec. 31, 2014 (*1)
Amount 35,217 32,477 17,472
% of Sales 3.5 3.1 3.7

*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, 2016
Hyundai-Kia Motor HI LIM Door trim Jul. 2014 - Jan. 2016 Completed
Hyundai-Kia Motor

DE

Door trim Jul. 2014 - Mar. 2016 Completed
Hyundai-Kia Motor YDc PE Bumper Sep. 2014 - Mar. 2016 Completed
Hyundai-Kia Motor QLc Door trim Aug. 2014 - Apr. 2016 Completed
Hyundai-Kia Motor YDm Door trim Aug. 2014 - Apr. 2016 Completed
Hyundai-Kia Motor PD 5 doors Door trim Jan. 2015 - Aug. 2016 Completed
Hyundai-Kia Motor IA PE Bumper May. 2015 - Oct. 2016 Completed
Hyundai-Kia Motor JA Door trim Apr. 2015 - Nov. 2016 Completed
Hyundai-Kia Motor PDe Door trim Jan. 2015 - Dec. 2016 Completed
Hyundai-Kia Motor IG Door trim May. 2015 - Dec. 2016 Completed
Hyundai-Kia Motor ID Door trim Jun. 2015 - Dec. 2016 Completed
Hyundai-Kia Motor SC Door trim Apr. 2015 - Jan. 2017 Under
development
Hyundai-Kia Motor QM Door trim May. 2015 - Mar. 2017 Under
development
Hyundai-Kia Motor HC Door trim Jun. 2015 - May. 2017 Under
development
Hyundai-Kia Motor OS Door trim Oct. 2015 - Jul. 2017 Under
development
Hyundai-Kia Motor AB Bumper Jul. 2015 - Aug. 2017 Under
development
Hyundai-Kia Motor IK Door trim Nov. 2015 - Aug. 2017 Under
development
Hyundai-Kia Motor CB Door trim Dec. 2015 - Aug. 2017 Under
development
Hyundai-Kia Motor UC 5 doors Bumper Mar. 2015 - Oct. 2017 Under
development
Hyundai-Kia Motor QE Bumper Aug. 2016 - Jul. 2018 Under
development
Hyundai-Kia Motor QX Door trim Nov. 2016 - Oct. 2018 Under
development
Hyundai-Kia Motor TM Door trim Feb. 2016 - Feb. 2018 Under
development
Hyundai-Kia Motor SK Covering shelve Jan. 2016 - Mar. 2018 Under
development
Hyundai-Kia Motor RJ Door trim Apr. 2015 - Nov. 2016 Under
development
Hyundai-Kia Motor NU Head lining Jun. 2016 - Dec. 2017 Under
development
Hyundai-Kia Motor QXc Door trim Oct. 2016 - May. 2018 Under
development
Hyundai-Kia Motor SQ Door trim Nov. 2016 - Dec. 2018 Under
development
Hyundai-Kia Motor ND Bumper Feb. 2016 - May. 2018 Under
development
Hyundai-Kia Motor NP Bumper Dec. 2016 - Nov. 2017 Under
development
N.A. C30 Seat Sep. 2016 - Aug. 2017 Under
development
N.A. C40 Seat Dec. 2016 - Nov. 2017 Under
development
Hyundai-Kia Motor SC Door trim Mar. 2015 - May. 2017 Under
development
N.A. AH2 Door trim Oct. 2016 - Nov. 2018 Under
development
Hyundai-Kia Motor CD Door trim Mar. 2016 - Sep. 2018 Under
development
Hyundai-Kia Motor BDM Door trim Mar. 2016 - Apr. 2018 Under
development
Hyundai-Kia Motor GSB Door trim May. 2015 - Feb. 2017 Under
development



Capital Expenditure

(in millions of won)
Type of investment Capital investment in 2016 Planned amount of capital investment for 2017
Manufacture of automotive components Additional facility 5,385 4,287