Harbin Dongan Auto Engine Co., Ltd. FY2010
|In million yuan||2010||2009||Difference%||Factors|
Sales increased year-on-year because of the following factors:
-Increased new customers, but the absolute demand of engines is not so great.
-Profit decreased due to the investment yields decreased.
-In December 2009, Aviation Industry Corporation of China agreed to transfer the shares of stock it has in the Company to China Changan Automobile Group Holdings Co., Ltd. Based on this agreement, Aviation Industry Corporation of China and the China Changan Automobile Group signed a stock transfer report on March 20, 2011 according to a voluntary transfer system for state-owned shares. When the transaction is completed, the Company will be owned 54.51 percent by China Changan Automobile Group Holdings, and the remaining 45.49 percent will be outstanding. The stock transfer project has been approved by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC). (From an announcement by the company, March 20, 2011)
-The sales to FAW-Jilin increased 43% year-on-year;
-The company started mass production of powertrains and transmissions for the Piaggio(Italy)
-The company started mass production of engines and transmissions for JAC
-The prototype assembly and supply agreement with Zhejiang Jonway Automobile and shandong Wuzheng have been started.
-In 2010, the Company produced 361,980 engines, and Harbin Dongan Automotive Engine Manufacturing, which is its joint venture company, manufactured 347,940 engines. (From an announcement by the company, January 5, 2011)
Harbin Dongan Automotive Engine Manufacturing Co., Ltd.(DAE)
-DAE, a joint venture between Mitsubushi and the Company, began manufacturing 4-speed and 5-speed automatic transmissions. The production capacity is expected to be doubled to 300,000 units. The expansion will make the company China's first manufacturer to have production technologies in three areas, which are engines, manual transmissions, and automatic transmissions(From a press release, February 1, 2010)
-Developed the DAK10A and DA465QA idle engines, to be put into mass production in March, 2011.
-Developed DABS14R-03 and DAT10R transmissions.
- Prototype assembly of the DA5 series 1.3L four-engine has been completed, wich is ready for the mass production.
- The prototype of the DA5 series 1.3L three-engine with aluminum and cast iron blocks has passed the ignition test.
Recent Capital Investment Projects (as at the end of Dec.2010)
(in million yuan)
|Items||Planed amount of investment||Amount invested in 2010||Percentage already invested out of the total planned investment||Notes|
|Additional production lines to manufacture crankshafts||160.00||5.48||61.92%||-The equipment installed during the first stage was put into use for mass- production.
-The second stage of the project has started.