Hwashin 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	Rate of change (%)	Remarks
Sales	1,251,698	1,313,606	(4.7)	-
Operating income	19,196	41,151	(53.4)	-
Net income	(24,566)	43,899	-	-

R&D structure

-The Company established an R&D center in August 1987.
-The center's operations include product designing, computing analysis, advanced development, testing, prototyping, production engineering, and die process development.

R&D Expenditure (Consolidated)

(in millions of won)

	FY ended Dec. 31, 2015	FY ended Dec. 31, 2014	FY ended Dec. 31, 2013
Amount	30,216	24,844	23,131
% of Sales	2.4	1.9	1.6

Models in Which the Company's Products are Used

	Customer	Model (Development code)	Products
Mass production scheduled to start in May 2018	Hyundai (U.S.A)	Santa Fe （Development code: TMA）	Front semi modules Rear cross members Rear lower arms Upper arms
Mass production scheduled to start in Sep. 2017	Kia	The successor model to K3 (Development code: BD)	Rear cross members Rear lower arms Upper arms
Mass production scheduled to start in Sep. 2017	Kia	The successor model to K3 Sport (Development code: BD)	Rear coupled torsion beam axles (CTBA)
Mass production scheduled to start in Sep. 2017	Hyundai	i30 （Development code: PD）	Rear cross members Rear lower arms Upper arms
Mass production scheduled to start in Aug. 2017	Hyundai (India)	The successor model to RB520 (Development code: HCI)	Center floors Cowls Front cross members Rear coupled torsion beam axles (CTBA) Fuel tanks Bumpers Pedals Heat protectors
Mass production scheduled to start in Aug. 2017	Hyundai	Sports sedan (Development code: IK)	Front cross members Rear cross members Rear lower arms Upper arms
Mass production scheduled to start in Jul. 2017	Renault (India)	Small SUV (Development code: HHA)	Cowl bars Center flanges HVAC Tunnel mounting brackets
Mass production scheduled to start in Jun. 2017	Hyundai	Small SUV (Development code: OS)	Front cross members & lower arms Rear coupled torsion beam axles (CTBA) Rear cross members Rear lower arms Rear upper arms
Mass production scheduled to start in Apr. 2017	Hyundai	The successor model to Veloster (Development code: JS)	Rear cross members Rear lower arms Rear upper arms
Mass production scheduled to start in Mar. 2017	Kia	Sports sedan (Development code: CK)	Front cross members Rear cross members Rear lower arms Upper arms
Mass production scheduled to start in Mar. 2017	Hyundai (North America)	i30 （Development code: PD）	Rear coupled torsion beam axles (CTBA)
Mass production scheduled to start in Dec. 2016	Hyundai	The successor model to the Grandeur (IG)	Front cross member semi modules
Mass production scheduled to start in Jun. 2016	Beijing Automobile Works	C32B	Front cross members Front lower arms Coupled torsion beam axles (CTBAs)
Mass production scheduled to start in Jun. 2016	Hyundai (China)	The successor model to the Accent (YC)	Front cross member semi modules Coupled torsion beam axles (CTBAs)
Mass production scheduled to start in Apr. 2016	Hyundai	The successor model to the Avante (Sport type) (AD)	Rear cross members Rear lower arms Upper arms
Mass production scheduled to start in Mar. 2016	Hyundai (China)	The successor model to the Avante (ADC)	Luggage bars
Mass production scheduled to start in Jan. 2016	Kia	The successor model to the K7 (YG)	Front cross member semi modules
Mass production scheduled to start in Dec. 2015	Hyundai (U.S.A)	The successor model to the Avante (ADA)	Front cross member semi modules Coupled torsion beam axles (CTBAs)
Mass production scheduled to start in Oct. 2015	Nissan	I2 (Project name)	Cowl bar assemblies
Mass production scheduled to start in Oct. 2015	Hyundai	The successor model to the Avante (AD)	Coupled torsion beam axles (CTBAs)
Mass production scheduled to start in Sep. 2015	Hyundai (China)	The successor model to the Tucson (TLC)	Front cross member semi modules Rear cross members Rear lower arms Upper arms
Mass production scheduled to start in Sep. 2015	Beijing Automobile Works	C51E	Rear cross members
Mass production scheduled to start in Sep. 2015	Kia (U.S.A)	The successor model to the K5 (JFA)	Front cross member semi modules Rear cross members Rear lower arms Upper arms
Mass production scheduled to start in Jul. 2015	Hyundai (India)	Compact SUV (GS)	Center floors Cowls Front cross members Coupled torsion beam axles (CTBAs) Fuel tanks Bumpers Cowl cross bars Heat protectors
Mass production scheduled to start in Jun. 2015	Volkswagen	Golf	Brackets
Mass production scheduled to start in Jun. 2015	Tesla	Model X	Brake pedal assemblies Brake pads PIN assemblies
Mass production scheduled to start in Jun. 2015	Kia	The successor model to the K5 (JF)	Front cross member semi modules
Mass production scheduled to start in May 2015	Tesla	Model S	Brake pedal assemblies Brake pads PIN assemblies
Mass production scheduled to start in Feb. 2015	Hyundai (China)	The successor model to the YF Sonata (LFC)	Front cross members Coupled torsion beam axles (CTBAs) Fuel tanks