Financial overview

(in  million yuan)	FY2009	FY2008	Rate of Change(%)	Factors
Sales	1,289.98	1,168.07	10.44%	-Despite a decrease in sales in the first quarter due to a depressed market, sales recovered and further increased, thanks to the stimulation initiatives undertaken by the government and the effective measures taken by the Company to open up new markets, reinforcequality control, shorten lead time, cut inventory, improve labor costs,  and optimize management. As a result, its full-year sales rose 10.44 percent.
Operating profit	49.70	(52.03)	-	New instrument meters, sensors, and flexible shafts product that were recently developed contributed the results.
Ordinary profit	49.00	(59.56)	-
Net profit	43.22	(60.72)	-

 

Change of Shareholders

Dongfeng Motor Co., Ltd. will establish a new company to oversee its auto parts business. As a result, Dongfeng Motor will transfer all the shares it has in the Group's automotive parts production subsidiaries, which includes Dongfeng Electronic Technology Co., Ltd., to the new company. (From a press release, December 31, 2009)

The company's R&D activities include building a first-class center and simultaneously developing products together with OEMs.

Products currently under development:
-Integrated instrument panels
-ABS/ASR systems
-Air pressure disc brake assemblies
-Car ECUs
-CV/PV trim
-Car generators and starter motors
-Car navigator systems
-Sensors

Major Investment Projects for 2009

(in million yuan)

Projects	Planned amount of investment (in million yuan)	Amount invested in FY2009	Percentage of amount already spent
Clutch Housing Molding	1.2	0.84	70%
C16A project (a vehicle model being designed at Zhengzhou Nissan)	0.4	0.31	78%

 

Investment in China

-On May 16, Dongfeng Visteon Automotive Trim Systems Co., Ltd. started constructing a new plant on a 97,000-square-meter site in the Wuhan Economic & Technological Development Zone. The new facility will manufacture interior and exterior trim products such as instrument panels, door trims, bumpers, and fenders for passenger vehicles. When the first phase of the construction project is completed, the company will have the capacity to manufacture products for 100,000 vehicles. The company will also set up a Research and Development center at the new plant. (From a press release, May 18, 2009)