Hwashin Co., Ltd. Business Report FY ended Dec. 2018

Financial Overview (Consolidated)

(in millions of won)

	FY ended Dec. 31, 2018	FY ended Dec. 31, 2017	Rate of change (%)
Sales	1,075,815	1,066,933	0.83
Operating income	(21,087)	(22,843)	-
Net income	(57,119)	(30,941)	-

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, 2018	FY ended Dec. 31, 2017	FY ended Dec. 31, 2016
Amount	33,433	33,942	35,111
% of Sales	3.1	3.2	2.8

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.)	Santa Fe （Development code: TMA）	Front semi modules Rear cross members Rear lower arms Upper arms
Mass production scheduled to start in May 2018	Kia	RJ (The successor model to the K9)	Rear trailing arms
Mass production scheduled to start in Feb 2018	Hyundai	OSC (The successor model to the Kona)	FR CROSS MBR & L/ARM, RR CTBA
Mass production scheduled to start in Feb 2018	Hyundai	TM (The successor model to the Santa-fe)	FRT C/MBR & L/ARM, RR C/MBR, RR LWR ARM, RR TRAIL'G ARM, RR ASSIST ARM, RR UPR ARM
Mass production scheduled to start in Jan 2018	Hyundai	Nexo (FE Hydrogen electric vehicle)	C/MBR ASSY FC P/T CTR, C/MBR ASSY FC P/T LH, C/MBR ASSY FC P/T RH BRKT-C/MBR HUMIDIFIER ASSY
Mass production scheduled to start in Dec 2017	Hyundai	NU (Mini SUV)	FR S/MODULE, RR C/MBR, RR L/ARM, T/ARM, A/ARM, U/ARM
Mass production scheduled to start in Oct 2017	Volkswagen (Brazil)	VW271 (Mini Sedan Voyage)	Rear-panel top parts and 32 other parts
Mass production scheduled to start in Sep 2017	Kia	BD (The successor model to the K3)	Rear cross members Rear lower arms Upper arms
Mass production scheduled to start in Sep 2017	Kia	BD (The successor model to the K3 Sport)	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, Trailing arms Assist 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	Tesla	Small SUV (Development code: OS)	Front Motor Mountain BRKT ASSY
Mass production scheduled to start in Jun. 2017	Hyundai	OS (The successor model to the Kona)	Front cross members & lower arms Rear coupled torsion beam axles (CTBA) Rear cross members Rear lower arms Rear upper arms
Dec. 2016	Hyundai (China)	IDC (The successor model to the HDC)	Front semi modules Rear coupled torsion beam axles (CTBA)
Dec. 2016	Hyundai	IG (The successor model to the Grandeur)	Front semi modules
Nov. 2016	Kia	YB (The successor model to the UB)	Front semi modules Rear coupled torsion beam axles (CTBAs)
Oct. 2016	Hyundai (China)	YC (The successor model to the RC)	Front semi modules Rear coupled torsion beam axles (CTBAs)
Sep. 2016	Volkswagen (Brazil)	AU371	Cowl bar assemblies
Sep. 2016	Volkswagen (Brazil)	VW370LA	Cowl bar assemblies
Jul. 2016	Tesla	Model X RHD	Brake pedal assemblies
Jun. 2016	Hyundai	AE-EV (AD-EV)	Frame assembly PE modules
Jun. 2016	Beijing Automobile Works	C32B	Front cross members Front lower arms Rear coupled torsion beam axles (CTBAs)
May. 2016	Beijing Automobile Works	C50E	Rear cross members
Apr. 2016	Hyundai	AD Sport type	Rear cross members Rear lower arms Upper arms Trailing arms Assist arms
Mar. 2016	Tesla	Model S RHD F/L	Brake pedal assemblies
Feb. 2016	Beijing Automobile Works	C50E (Compact passenger model)	Rear cross members
Jan. 2016	Volkswagen (Brazil)	VW237 (Saveiro)	Lock reinforcements
Jan. 2016	Kia	YG (The successor model to the K7)	Front semi modules
Dec. 2015	Hyundai (U.S.)	ADA (The successor model to the Avante UD)	Front semi modules Rear coupled torsion beam axles (CTBAs)
Dec. 2015	Hyundai	HI (The successor model to the VI)	Rear trailing arms
Oct. 2015	Nissan	I2	Cowl bar assemblies
Sep. 2015	Hyundai	AD (The successor model to the Avante MD)	Rear coupled torsion beam axles (CTBAs)
Sep. 2015	Hyundai (China)	TLC (The successor model to the LM)	Front cross member semi modules Rear cross members Rear lower arms Upper arms Trailing arms Assist arms
Sep. 2015	Beijing Automobile Works	C51E	Rear cross members
Sep. 2015	Kia (U.S.)	JFA (The successor model to the K5)	Front semi modules Rear cross members Rear lower arms Upper arms Trailing arms Assist arms
Jul. 2015	Hyundai (India)	GS compact SUV (GC)	Center floors Cowls Front cross members Rear coupled torsion beam axles (CTBAs) Fuel tanks Bumpers Cowl cross bars Heat protectors
Jul. 2015	Tesla	Model X	Brake pedal assemblies Brake pads PIN assemblies
Jun. 2015	Volkswagen	VW370 (7th generation Golf)	Brackets
Jun. 2015	Kia	JF (The successor model to the K5)	Front semi modules
May 2015	Tesla	Model S	Brake pedal assemblies Brake pads PIN assemblies Clip
Feb. 2015	Hyundai (China)	LFC (The successor model to the YF Sonata)	Front cross member semi modules Rear cross bar Rear lower arms Trailing arms Upper arms Assist arms
Dec. 2014	Faurecia	B515 LHD (Ford EcoSport, SUV)	Center cross bar
Nov. 2014	Kia (U.S.A)	UMA (The successor model to the XM Sorento R)	Front cross members semi modules
Oct. 2014	Nissan	H79 F/L (Nissan SUV)	Complete fuel line protectors
Sep. 2014	Hyundai (China)	GC (CUV)	Front cross members Rear coupled torsion beam axles (CTBAs) Fuel tanks
Aug. 2014	Kia	UM (The successor model to the XM Sorento R)	Rear cross members Rear lower arms
Aug. 2014	Hyundai	IB (The successor model to the PB)	Center floors Cowls Front cross members Rear coupled torsion beam axles (CTBAs) Bumpers Cowl cross bars
May. 2014	Hyundai (U.S.A)	LFA (The successor model to the YF Sonata)	Side outer reinforcements Rear P/Tray Front cross members Rear cross members
Apr. 2014	Kia	PS EV (The successor model to the Soul EV)	Frame assembly PE modules
Mar. 2014	Hyundai	LF (The successor model to the YF Sonata)	Front cross members Lower arms
Jan. 2014	Nissan	K2	Fuel tanks
Nov. 2013	Hyundai	DH (The successor model to the Genesis)	Rear lower arms Rear assist arms
Sep. 2013	Nissan	X11M	Fuel tanks
Sep. 2013	Hyundai	BA (The successor model to the PA)	Center floors Cowls Front cross members Rear coupled torsion beam axles (CTBAs) Fuel tanks Bumpers Cowl cross bars
May. 2013	Hyundai	TQ 4WD (Starex 4WD)	Front cross members Lower arms
May. 2013	Mitsubishi	4F00	Lateral rod
May. 2013	Hyundai	HR 4WD (Porter 4WD)	Front upper arms
Apr. 2013	Hyundai	LM F/L (Tucson lx F/L)	Front cross members Lower arms
Mar. 2013	Kia	PS (The successor model to the Soul F/L)	Coupled torsion beam axles (CTBAs, 2WD) Rear cross members