Restructuring

-The Company announced that it will sell a 40 percent share in GAC-QH Auto Component Co., Ltd., its subsidiary, for CNY 53.04 million. The president of GAC-QH Auto Component is planning to increase his shareholding in the company to 95 percent through a management buyout. GAC-QH Auto Component generated CNY 3.74 million in sales and posted a net loss of CNY 360,000 by January 31, 2014. (From news releases issued by multiple sources on February 21, 2014)

Come into Operation

-The Company announced that Heyuan Toyota Boshoku Automotive Parts Co., Ltd., which is a joint venture between Toyota Boshoku (China) and Guangzhou Automobile, started commercial production on October 18, 2013. (From news releases issued by multiple sources on December 12, 2014)

Domestic Investments

-Guangzhou Huade Automobile Spring Co., Ltd., a subsidiary of the Company, announced that it will establish new production lines to produce suspension springs and stabilizers in Zhengzhou. Products made on the new lines will be supplied to Zhengzhou Nissan and other companies. (From a press release on September 29, 2013)

-Toyota Boshoku to set up JV for manufacturing automotive interior parts in China, Toyota Boshoku Corporation’s regional management hub in China, Toyota Boshoku (China) Co., Ltd., is establishing a new joint-venture with the Company this July.  The automobile interior parts manufacturing company will be located in Heyuan, Guangdong province, China. The new JV,Heyuan Toyota Boshoku Automotive Parts Co., Ltd., is capitalized at approx. USD 2.1 million (approx. JPY 200 million). The investment ratio is 75% by Toyota Boshoku with the remaining 25% by GACC. Approximately USD 4.14 million ( approx. JPY 400 million) will be invested in the plant. The building will cover about 8,700 square meters on about 17,000 square meters of property. The plant will start producing seat covers and other interior parts in September 2013. Its annual production capacity is 230,000 units and its products will be delivered to local seat manufacturer, Guangzhou Intex Auto Parts. The assembled seats will then be supplied to GAC Toyota Motor Co., Ltd.The Company came into operation on October 18, 2013. (From a press release on December 12, 2013)