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Dongfeng Electronic Technology Co., Ltd. FY2011
Business Highlights
Financial overview |
(in million yuan) |
| FY2011 | FY2010 | Rate of Change(%) | Factors | |
| Sales | 2,584.54 | 2,306.67 | 12.05% | 1) |
| Operating profit | 199.07 | 248.32 | (19.83%) | -The slowdown of domestic automobile market. |
| Ordinary profit | 203.26 | 243.90 | (16.66%) | |
| Net profit | 173.63 | 218.61 | (20.58%) |
1) The Company purchased an additional 20 percent of the shares in Zhanjiang DENI Carburetor Co., Ltd., and the finance result included Chongqing Dezhong Machine Manufacturing Co.,Ltd., a subsidiary of Zhanjiang DENI Carburetor Co., Ltd.(From the company's 2011 annual report)
Acquisition
- The Company is going to purchase an additional 20 percent of the shares in Zhanjiang DENI Carburetor Co., Ltd., which is its joint-venture company with Keihin Corporation of Japan and other companies. Keihin, which has been scaling back its investment, made an offer to withdraw from the joint business completely by transferring the whole 20 percent shareholding to its partners. DETC has decided to acquire the whole amount, expecting future growth in business and profitability at the joint venture. (From an announcement by the company, February 1, 2011)
Transfer shares
- The Company transfered shares of Shanghai Johnson Controls Automotive Electronics Co., Ltd. to Johnson Controls. The Company holds 40% of shareholdings and Johnson Controls holds 60% shares of Shanghai Johnson Controls Automotive Electronics Co., Ltd. (From an announcement by the company, September13, 2011)
R&D
- In 2011, the Company was approved 27 patents.
Investment Activities
Major Investment Projects for 2011 |
(in million yuan) |
| Projects | Planned amount of investment | Amount invested in FY 2011 |
Percentage of amount already spent |
| Caohejing R&D Center | 44.20 | 37.21 | 84.18% |
| Building New Plant | 86.48 | 10.16 | 11.75% |
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