Guizhou Guihang Automotive Components Co., Ltd. Business Report FY ended Dec. 2017
|(in million yuan)|
|FY ended Dec. 31, 2017||FY ended Dec. 31, 2016||Rate of change||Factors|
-Continuously exploring markets; obtained additional purchase orders of CNY 2.564 billion; strengthened budget management.
-Guizhou Guihang Automotive Components Co., Ltd. said on November 6, 2017, that the company acquired shares in its three subsidiaries. Specifically speaking, the company bought a 47% stake in Guizhou Huayang Automotive Parts Co., Ltd. from its wholly-owned subsidiary, Guizhou Huayang Electronics Co., Ltd., to raise its shareholding ratio to 85% from 38%. The company also purchased all shares in Chengdu Wanjiang Automotive Components Co., Ltd. in which another wholly-owned subsidiary, Guiyang Wanjiang Aviation Electromechanical Co., Ltd., holds, to make it a wholly-owned subsidiary of the company. Also, the company purchased 80% shares in Shanghai Wanjiang Automobile Parts Co., Ltd. to hold an 80% stake from Guiyang Wanjiang. (From a corporate announcement on November 6, 2017)
-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 2018, the Company plans to reach 3.4 billion sales, increased by 0.26% on year-over-year basis; and plans to reach 0.26 billion profits, increased by 8.15% on year-over-year basis. (From the Company's 2017 annual report)
|(in million CNY|
|FY ended Dec. 31, 2017||FY ended Dec. 31, 2016||FY ended Dec. 31, 2015|
-In 2017, the Company has 849 R&D personnels.
Capital Investment Projects in FY2017
|(in million CNY|
|Projects||Budget||Investment in 2017||Project progress|
-In 2018, the Company plans to invest CNY 203 million in ins subsidiaries for technology transformation.