Guizhou Guihang Automotive Components Co., Ltd. Business Report FY ended Dec. 2014
Business Results |
(in million yuan) |
| FY ended. Dec. 31, 2015 | FY ended. Dec. 31, 2014 | Difference (%) | Factors | |
| Sales | 3,200.75 | 3,067.53 | 4.34% |
-Finished the task of R&D and production, and improved the operation quality. |
| Operating profit | 184.23 | 158.28 | 16.39% | - |
| Ordinary profit | 194.01 | 175.37 | 10.63% | |
| Net profit | 176.52 | 151.42 | 16.58% |
New Company
-The Company announced that it will establish a thermal systems joint-venture company in Songjiang District, Shanghai with eight individual investors. The company will make in-kind contributions by offering the production facilities of Yonghong Radiator Company to the new company, while individual investors will provide cash. The new company will be called Shanghai Yonghong Thermal Systems. It will be capitalized at CNY 13.2 million, and will be owned 45 percent by Guizhou Guihang and 55 percent will be owned by individual investors. (From an announcement by the company on August 4, 2015)
Acquisition
-The Company announced that it will acquire 38 percent of Mitsui Huayang Auto Parts Co., Ltd. shares from Mitsui Kinzoku Act (Shanghai) Management Co., Ltd. Guizhou Guihang will spend CNY 13.54 million for this deal, which is expected to open up its business opportunities with Japanese companies. When the transaction is completed, Mitsui Huayang Auto Parts will be owned 38 percent by Guizhou Guihang, 47 percent by Guizhou Huayang Electric Engineering Co., Ltd., 5 percent by Mitsui Kinzoku Act, and 10 percent by the core group of Mitsui Kayo. (From an announcement by the company on August 4, 2015)
Contracts
-Got the supply agreements of key related products with Changan commercial vehicles.
-Developed locks for BAIC Group platform, and supplied in batch to part of models.
-Supplied in batch to BAIC New Energy.
-Supplied locks of GAC Group GS4.
Business Plan for Next Year
-In 2016, the Company plans to reach 3.3 billion sales, increased by 3.13% on year-over-year basis; and plans to reach 0.2 billion profits, increased by 3.09% on year-over-year basis. (From the Company's 2015 annual report)
R&D Expenditure
-The expenditure on R&D in 2015 is 93.36 million yuan, 2.92% of the Company's sales.
Capital Investment Projects in FY2015 |
(in million yuan) |
| Projects | Budgeted amount | Amount Invested up to Dec. 2015 | Project progress |
| Technology transformation | 104.10 | 5.87 | - |
| Infrastructure construction | 192.06 | 8.38 | - |
| - | 1.64 | 100% | |
| Extrusion production line of compound rubber | 2.45 | 5.44 | 100% |
| B73 assenbly line | 2.50 | - | 100% |