Dongfeng Electronic Technology Co., Ltd. (DETC) Business Report FY ended Dec. 2016
Financial Overview |
(in million CNY) |
| FY ended Dec. 31, 2016 | FY ended Dec. 31, 2015 | Rate of change | Factors | |
| Sales | 5,224.43 | 4,824.93 | 8.28% | - |
| Operating profit | 269.19 | 299.36 | (10.08%) |
-In 2016, the Company's subsidiaries increase investment on development of instrument panels for customers, thus, the Company's investment income fell, which resulted in lower profits. |
| Ordinary profit | 275.04 | 314.31 | (12.49%) | |
| Net profit | 233.64 | 280.93 | (16.83%) |
Transfer of Shares
-In May 2016, Dongfeng Visteon (Shiyan) Automotive Trim Systems Co., Ltd., the Company's subsidiary, announced that Yanfeng Automotive Interior acquired all 50% shares of Dongfeng Visteon (Shiyan) Automotive Trim Systems Co., Ltd. hold by Yanfeng Visteon Holding. After the completion of the transaction，the Company and Yanfeng Automotive Interior System Co., Ltd. each held 50% shares of Dongfeng Visteon (Shiyan) Automotive Trim Systems Co., Ltd. (From an announcement by the Company on May 21, 2016)
Renaming of Subsidiaries
-In July 2016, Dongfeng Visteon Automotive Trim Systems Co., Ltd, the Company's subsidiary, changed its name into "Dongfeng Yanfeng Automotive Trim Systems Co., Ltd." after approved by the State Administration of Industry and Commerce. Zhengzhou Dongfeng Visteon Automotive Trim Systems Co., Ltd., Dongfeng Visteon Yancheng Automotive Trim Systems Co., Ltd. and Dongfeng Visteon (Shiyan) Automotive Trim Systems Co., Ltd., subsidiaries of Dongfeng Visteon Automotive Trim Systems Co., Ltd., changed name into "Zhengzhou Dongfeng Yanfeng Automotive Trim Systems Co., Ltd.", "Dongfeng Yanfeng Yancheng Automotive Trim Systems Co., Ltd." and "Dongfeng Yanfeng (Shiyan) Automotive Trim Systems Co., Ltd." respectively. (From an announcement by the Company on July 12, 2016)
Competitors
| Product | Competitors | Market share |
| Sensors | Sensata | 5.8%（Commercial Vehicle） |
| Clusters | Continental, Zhejiang Automobile Instrument | 8.1%（Commercial Vehicle） |
| Automotive interior products | Calsonic Kansei, Faurecia, Hyundai Mobis, Seoyon E-Hwa, 嘉华 | 18.9% (instrument panel) 29.6% (door panel) 7.4% (sub-dashboard) |
| Automotive electronics | Wabco, Zhejiang Vie Technology | 18% |
| Valve products | Wabco | 8.2% |
| Automotive die-casting products | Guangdong Hongtu Technology | - |
Business Plan for Next Year
-In 2017, the Company plans to reach CNY 5 billion sales.
R&D Expenditure
| FY ended Dec. 31, 2016 (million CNY) |
FY ended Dec. 31, 2015 (million CNY) |
FY ended Dec. 31, 2014 (million CNY) |
|
| R&D Expenditure | 189.97 | 158.29 | 181.44 |
| Ratio of R&D expenses to operating income | 3.64% | 3.28% | 3.70% |
R&D Facility
-The Company has five professional technology centers, namely, Shanghai Technology R&D center, Instrumentation and Body Electronics R&D center, Braking and Chassis Electronics R&D center, Trim Systems R&D center and Die Castings R&D center.
Investment in 2016 |
(in million CNY) |
| Project | Budget | Investment in 2016 | Project progress |
| Mazhang new plant construction | 210.12 | 21.16 | 99.00% |
| Yancheng Joint plant (Phase I) project | 17.00 | 4.24 | 112.47% |
| Yancheng Joint plant (Phase II) project | 53.82 | 16.00 | 29.73% |
| New plant technical test workshop | 97.50 | 33.40 |
54.25% |