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- Seoyon Electronics Co., Ltd. (Formerly Daedong Co., Ltd.)
- Seoyon Electronics Co., Ltd. (Formerly Daedong Co., Ltd.) Business Report FY ended Dec. 2014
Seoyon Electronics Co., Ltd. (Formerly Daedong Co., Ltd.) Business Report FY ended Dec. 2014
Highlights in Recent Years
Financial Overview (Consolidated)
|
(in millions of won) |
|
FY ended Dec. 31, 2014 |
FY ended Dec. 31, 2013 |
Rate of change (%) |
Remarks |
Sales |
704,960 |
675,644 |
4.3 |
- |
Operating income |
38,053 |
32,165 |
18.3 |
- |
Net income |
32,527 |
21,281 |
52.8 |
- |
Parent company change
-In December 2011, Hanil E-Hwa Co., Ltd. acquired 50.12 percent of the shares in Shinchang Electrics Co., Ltd., an automotive switch supplier in Korea, for 60,164 million won. As a result, Tokai Rika which had owned the largest, 28.38 percent share in Shinchang Electrics, now holds 19.72 percent in the company. (From a press release on December 16, 2011)
Subsidiaries
-In August 2008, the Company established Suzhou Shinchang Science & Technology Co., Ltd. in China. The new company, which is wholly owned by Shinchang Electrics and capitalized at 240,000 US dollars, will design automotive electric equipment. (From a press release on August 6, 2008)
-In September 2007, the Company established Shinchang Poland Sp. z.o.o. in Poland to manufacture and sell key sets, switches, and door levers. Shinchang Poland is capitalized at 852 million yuan, which was wholly invested by the Company. (From a press release on September 11, 2007)
-In March 2005, the Company established Shinchang America Corporation in Michigan, U.S.A. to sell automotive components.
Contracts
-The Company developed a new smart key system. Mass production of the product started in February 2008 for installation on the Chairman W assembled by Ssangyong.
R&D Structure
-The Company established an R&D center in August 1989.
R&D Expenditure (Consolidated)
|
(in millions of won) |
|
FY ended Dec. 31, 2014 |
FY ended Dec. 31, 2013 |
FY ended Dec. 31, 2012 |
Amount |
15,677 |
10,717 |
9,680 |
% of sales |
2.9% |
2.1% |
2.1 |
R&D Activities(FY ended in Dec. 2014)
Models |
Products |
Electrical unit |
The successor model to the Hyundai Avante (AD) |
Immobilizer unit |
Hyundai Aslan (AG) |
IPM |
Hyundai Veloster (FS) |
IPM |
Hyundai Eon (HA) |
SBR unit |
Hyundai Grandeur Hybrid (HG HEV) |
IPM |
Hyundai Grandeur (HG) |
IPM |
Kia Sportage R EV (SLE) |
BCM |
Kia Sorento (UM) |
ANT coil assembly |
Kia Sorento (UM) |
LDC |
W222 |
Smart key system |
Power window switch |
Hyundai Sonata (CF) |
Power window switch |
Hyundai Santa Fe (DM) |
Power window switch |
Hyundai Sonata (LF) |
Power window switch |
Hyundai (China) Mistra (PF) |
Power window switch |
Hyundai Verna (RBK) |
Power window switch |
Kia (China) Sportage facelift (SL F/L) |
Power window switch |
Hyundai/Kia SR |
Power window switch |
Kia Carnival (YP) |
Power window switch |
Multi function switch
|
Hyundai Compact SUV (GC) |
Multi function switch |
Hyundai Sonata (LF) |
W/REMO switch |
Hyundai Sonata (LF) |
Multi function switch |
The successor model to the Hyundai Veracruz (NC) |
Paddle shifter switch |
Hyundai (China) Trago (QZC) |
Multi function switch |
Hyundai/Kia SR |
Multi function switch |
Hyundai/Kia SR |
W/REMO switch |
Key set
|
Hyundai Aslan (AG) |
Outside door handle |
Hyundai i10 (BA) |
Key set |
Ssangyong Actyon (C210) |
Key set |
Hyundai/Kia (China) CS facelift (CSC F/L) |
Key set |
Kia (China) Sportage (KMC) |
ESCL |
Hyundai Sonata (LF) |
Key set |
Hyundai Sonata (LF) |
Trunk lid switch |
Hyundai Sonata (LF) |
Trunk switch |
Hyundai (China) Avante (MDC) |
Key set |
P552 |
Key set |
Hyundai (China) Mistra (PF) |
Key set |
Kia Soul EV (PS EV) |
SSB |
Kia Soul (PS) |
Key set |
Kia (China) Rio (QB) |
Key set |
Hyundai (Russia) Verna facelift (RBR F/L) |
SSB |
Kia (China) Sportage (SLC F/L) |
Key set |
Kia Morning(TA) |
FOLDING TX |
U22X |
Key set |
Kia Rio (UB) |
Key set |
Kia Rio (UB) |
SSB |
Kia Sorento (UM) |
ESCL |
Hyudai i40 (VF) |
FOLDING TX |
Y292 |
Key set |
Kia Venga (YN) |
Outside door handle |
Kia Venga (YN) |
FOLDING TX |
Kia Carnival (YP) |
ESCL |
Kia Carnival (YP) |
Key set |
Other switches
|
Hyundai Sonata (CF) |
Crash pad switch |
Hyundai Veracruz (EN) |
Ventilation switch |
Hyundai Sonata (LF) |
Crash pad switch |
Hyundai Sonata (LF) |
Console switch |
Hyundai Elantra (RD) |
E-module |
Hyundai Elantra (RD) |
EHS |
Kia (China) Sportage (SLC F/L) |
Crash pad switch |
Kia Sorento (UM) |
PTG switch |
Kia Venga (YN) |
Center facia switch |
Kia Venga (YN) |
Hazard switch controller |
Kia Carnival (YP) |
Crash pad switch |
Kia Carnival (YP) |
Console floor switch |
Data
Sales by product
|
(in millions of won) |
Company |
Products |
FY ended Dec. 31, 2014 |
FY ended Dec. 31, 2013 |
FY ended Dec. 31, 2012 |
Sales |
Ratio |
Sales |
Ratio |
Sales |
Ratio |
The Company |
Switches |
298,677 |
55.5% |
273,421 |
54.1% |
260,417 |
56.8% |
Key sets |
198,706 |
36.9% |
186,447 |
36.9% |
167,252 |
36.5% |
Magnesium products |
27,710 |
5.2% |
33,004 |
6.5% |
21,123 |
4.6% |
Others |
12,967 |
2.4% |
12,427 |
2.5% |
9,871 |
2.2% |
Total |
538,060 |
100.0% |
505,299 |
100.0% |
458,663 |
100.0% |
U-Chang Precision Co., Ltd. |
Key sets |
11,013 |
28.0% |
13,691 |
33.9% |
14,495 |
34.9% |
Steering locks |
7,317 |
18.6% |
9,366 |
23.2% |
9,611 |
23.2% |
Door handles |
7,804 |
19.9% |
8,880 |
22.0% |
9,147 |
22.0% |
Switches |
5,894 |
15.0% |
- |
- |
- |
- |
Gear boxes |
850 |
2.2% |
936 |
2.3% |
- |
- |
Cigarette lighters |
216 |
0.6% |
252 |
0.6% |
384 |
0.9% |
Others |
6,149 |
15.7% |
7,272 |
18.0% |
7,873 |
18.9% |
Total |
39,243 |
100.0% |
40,398 |
100.0% |
41,510 |
100.0% |
STF |
BCMs |
33,877 |
34.5% |
40,831 |
42.0% |
48,577 |
53.9% |
Smart keys |
33,300 |
33.9% |
30,471 |
31.3% |
22,514 |
25.0% |
Switches |
21,873 |
22.3% |
20,161 |
20.7% |
13,436 |
14.9% |
Immobilizers |
6,141 |
6.2% |
5,568 |
5.7% |
4,859 |
5.4% |
LDCs |
2,861 |
2.9% |
- |
- |
- |
- |
Others |
211 |
0.2% |
225 |
0.2% |
772 |
0.8% |
Total |
98,263 |
100.0% |
97,256 |
100.0% |
90,158 |
100.0% |
Suzhou Huachang Mechanical and Electrical Co., Ltd. |
Key sets |
97,091 |
37.7% |
50,709 |
32.4% |
46,814 |
40.6% |
Switches |
49,614 |
27.9% |
25,120 |
16.1% |
22,796 |
19.8% |
Others |
61,328 |
34.4% |
80,495 |
51.5% |
45,619 |
39.6% |
Total |
178,033 |
100.0% |
156,324 |
100.0% |
115,229 |
100.0% |
Daedong Poland Sp. z.o.o |
Key sets |
51,115 |
71.7% |
20,638 |
29.8% |
21,078 |
30.2% |
Switches |
20,187 |
28.3% |
48,572 |
70.2% |
48,717 |
69.8% |
Total |
71,302 |
100.0% |
69,210 |
100.0% |
69,795 |
100.0% |
Sales by customer
|
(in millions of won) |
Company |
Customer |
FY ended Dec. 31, 2014 |
FY ended Dec. 31, 2013 |
FY ended Dec. 31, 2012 |
Sales |
Ratio |
Sales |
Ratio |
Sales |
Ratio |
The Company |
Hyundai |
217,365 |
40.4% |
180,463 |
35.7% |
165,895 |
36.2% |
Kia |
130,975 |
24.3% |
133,793 |
26.5% |
131,015 |
28.6% |
GM Korea |
6,527 |
1.2% |
8,469 |
1.7% |
10,972 |
2.4% |
Ssangyong |
1,205 |
0.2% |
7,075 |
1.4% |
5,842 |
1.3% |
Export |
163,640 |
30.5% |
151,679 |
30.0% |
130,600 |
28.5% |
Others |
18,348 |
3.4% |
23,820 |
4.8% |
14,339 |
3.2% |
Total |
538,060 |
100.0% |
505,299 |
100.0% |
458,663 |
100.0% |
U-Chang Precision Co., Ltd. |
GM Korea |
22,113 |
56.3% |
22,963 |
56.8% |
28,640 |
69.0% |
Korea Delphi |
3,248 |
8.3% |
3,616 |
9.0% |
4,107 |
9.9% |
Mando |
3,519 |
9.0% |
4,948 |
12.2% |
1,948 |
4.7% |
Renault Samsung |
856 |
2.2% |
1,040 |
2.6% |
899 |
2.2% |
Others |
9,507 |
24.2% |
7,830 |
19.4% |
5,916 |
14.3% |
Total |
39,243 |
100.0% |
40,398 |
100.0% |
41,510 |
100.0% |
STF |
Hyundai |
51,344 |
52.3% |
51,020 |
52.5% |
43,840 |
48.6% |
Kia |
45,147 |
45.9% |
43,985 |
45.2% |
41,722 |
46.3% |
GM Korea |
162 |
0.2% |
747 |
0.8% |
2,678 |
3.0% |
Ssangyong, etc. |
1,399 |
1.4% |
1,278 |
1.3% |
1,146 |
1.3% |
Others |
211 |
0.2% |
225 |
0.2% |
772 |
0.8% |
Total |
98,263 |
100.0% |
97,256 |
100.0% |
90,158 |
100.0% |
Suzhou Huachang Mechanical and Electrical Co., Ltd. |
Hyundai Mobis, etc. |
99,765 |
56.0% |
86,082 |
55.1% |
37,841 |
32.8% |
Beijing Hyundai |
27,981 |
15.7% |
31,137 |
19.9% |
28,673 |
24.9% |
Yancheng Kia |
24,653 |
13.8% |
19,872 |
12.7% |
19,988 |
17.4% |
Shanghai GM |
- |
- |
- |
- |
9,788 |
8.5% |
Others |
25,634 |
14.5% |
19,234 |
12.3% |
18,939 |
16.4% |
Total |
178,033 |
100.0% |
156,324 |
100.0% |
115,229 |
100.0% |
Daedong Poland Sp. z.o.o |
Hyundai Czech |
35,261 |
49.5% |
34,010 |
49.1% |
21,078 |
55.0% |
Kia Slovakia |
36,041 |
50.5% |
35,200 |
50.9% |
48,717 |
45.0% |
Total |
71,302 |
100.0% |
69,210 |
100.0% |
69,795 |
100.0% |
Production Capacity / Result / Capacity Utilization Rate
|
(in thousands of unit) |
Product |
FY ended Dec. 31, 2014 |
FY ended Dec. 31, 2013 |
Capacity |
Result |
C.U.R |
Capacity |
Result |
C.U.R |
The Company |
Key sets |
5,419 |
4,000 |
73.8% |
4,502 |
4,042 |
89.8% |
Multi-function switches |
6,653 |
5,040 |
75.8% |
5,517 |
4,840 |
87.7% |
Power window switches |
2,974 |
2,689 |
90.4% |
3,957 |
2,659 |
67.2% |
Wheel remote control switches |
2,054 |
1,538 |
74.9% |
- |
- |
- |
In-panel switches |
2,222 |
1,686 |
75.9% |
- |
- |
- |
STF |
BCM |
3,717 |
3,436 |
92.4% |
4,357 |
3,665 |
84.1% |
Smart keys |
5,314 |
4,947 |
93.1% |
4,905 |
4,227 |
86.2% |
Switches |
2,273 |
1,804 |
79.4% |
1,908 |
1,542 |
80.8% |
Immobilizers |
1,360 |
1,201 |
88.4% |
1,264 |
1,056 |
83.6% |
LDCs |
170 |
168 |
98.6% |
|
|
|
U-Chang Precision Co., Ltd. |
Key sets |
1,500 |
877 |
58.5% |
1,680 |
1,038 |
61.8% |
Steering column locks |
1,800 |
946 |
52.6% |
1,800 |
1,144 |
63.6% |
Outside door handles |
4,856 |
2,368 |
48.8% |
5,640 |
3,257 |
57.8% |
Power window switches |
22,572 |
19,896 |
88.1% |
19,200 |
16,680 |
86.9% |
Suzhou Huachang Mechanical and Electrical Co., Ltd. |
Key sets |
3,984 |
2,977 |
74.7% |
3,984 |
3,152 |
79.1% |
Multi-function switches |
6,970 |
6,350 |
91.1% |
5,968 |
4,798 |
80.4% |
Power window switches, etc. |
4,999 |
4,810 |
96.2% |
4,054 |
3,501 |
86.4% |
Daedong Poland Sp. z.o.o |
Key sets |
632 |
606 |
96.0% |
662 |
579 |
87.5% |
Switches |
688 |
656 |
95.4% |
734 |
623 |
84.9% |
>>>Financial Data