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5. ASIMCO Technologies Limited Business Report FY ended Dec. 2014

ASIMCO Technologies Limited Business Report FY ended Dec. 2014

Financial Overview

-In 2014, ASIMCO International Casting Co., Ltd. (Shanxi), a subsidiary of the Company, reached CNY 562 million in sales. The sales volume of the castings reached 52,275 tons.

Contracts

-The Company announced that it has won a contract to supply its products to Isuzu Motors Limited in Japan. This is the first time that ASIMCO exports its products to Isuzu. (From a press release on November 27, 2014)

-On August 11, 2014, ASIMCO Tianwei Fuel Injection Equipment (Beijing) Co., Ltd., a subsidiary of the Company, announced that the company and Delphi have signed an agreement, under which ASIMCO will supply fuel injection products to Delphi. ASIMCO’s injectors, injection nozzles and other fuel system components will be delivered to Delphi’s global operations. (From a press release on August 11, 2014)

-Hubei Super-Elec Auto Electric Motor Ltd., a joint venture of the Company, announced that it has been given the qualification to supply its starters for Volkswagen vehicles sold in Europe. Three types of the company’s starters will be installed on 125,000 Volkswagen vehicles per year. Sales from the business are expected to reach approximately EUR 3 million. (From a press release on May 7, 2014)

Pass the Test

-Yizheng Shuanghuan Piston Ring Co., Ltd., which is a subsidiary of the Company, announced in November 2014 that it has passed Dongfeng Liuzhou's Quality, Cost, Delivery, and Development (QCDD) testing, which covered areas including performances in production management, designing and development, and quality management. (From a press release on December 2, 2014)

-Yizheng Shuanghuan Piston Ring Co., Ltd., a subsidiary of the Company, announced that its new piston rings for Geely Automobile have passed Geely Powertrain's Off Tool Sample (OTS) Testing that was carried out in November 2014. The testing program covered areas including research and development, quality assurance, and production processes. Yizheng Shuanghuan Piston Ring has not disclosed the name of the vehicle that will feature the piston rings. (From a press release on December 2, 2014)

-Yizheng Shuanghuan Piston Ring Co., Ltd., a subsidiary of the Company, announced that its piston rings for Puma 2.4-liter engines have passed a PPAP (Production part approval process) testing conducted by Jiangling Motors in June 2014. The company's piston rings will be installed on 240 vehicles on a trial basis. (From a press release on August 5, 2014)

-Yizheng Shuanghuan Piston Ring Co., Ltd., a subsidiary of the Company, announced that its new piston rings have passed a PPAP (Production part approval process) testing by Yuchai Machinery in May 2014. This achievement has given the company the qualification to mass-produce these products for Yuchai. (From a press release on June 4, 2014)


-ASIMCO NVH, a subsidiary of the Company, announced in October 2014 that it has passed Isuzu Motors' supplier testing and will soon begin to deliver its products to Isuzu's global operations. What ASMICO will supply to Isuzu is undisclosed. (From a press release on December 8, 2014)

-ASIMCO NVH Technologies Co., Ltd. (Anhui), which is a subsidiary of the Company, announced that it has passed General Motors' QSB (Quality System Basics) testing. This achievement gives ASIMCO NVH Technologies Co., Ltd. (Anhui) the qualification to supply its products to the automakers' global operations. ASIMCO NVH Technologies is poised to obtain the same kind of qualification from Volkswagen. (From a press release on July 8, 2014)


-ASIMCO Meilian Braking Systems (Lagnfang) Co., Ltd., a subsidiary of the Company, announced that it passed a global supplier screening conducted by Cummins in June 2014. The achievement gave the ASIMCO subsidiary the qualification to supply its products to Cummins' worldwide operations. ASIMCO Meilian Braking Systems (Lagnfang) already supplies its products to Cummins' Chinese joint venture, but it has not delivered its products to Cummins' operations on a global basis. (From a press release on July 16, 2014)

Awards

-The Company won the following awards for 2014:

• the Outstanding Contribution Award from JAC-Navistar Diesel Engine;
• the Best Supplier Award 2014 from Foton Cummins Engine.

-Yizheng Shuanghuan Piston Ring Co., Ltd., a subsidiary of the Company, won the following awards for 2014:

• the Excellent Supplier Award from Sinotruk Hangzhou Engine;
• the Outstanding Contribution to Quality Award from JAC Navistar;
• the Excellent Supplier Award from Shanghai Diesel Engine (the company earned this award for the 11th consecutive year);
• the Excellent Supplier by Yuchai Machinery (Guangxi) Group;
• the Quality Contribution Award from JAC-Navistar Diesel Engine;
• the Qualified Supplier Awards from Chongqing Cummins Engine.

-ASIMCO NVH Technologies Co., Ltd. (Anhui), a subsidiary of the Company, won the following awards for 2014:

• the Excellent Quality Award from General Motors China;
• the Bosch Asia Pacific Supplier Award. This is the second time that the company received the award after 2010.

-ASIMCO Camshaft (Yizheng) Co., Ltd., a subsidiary of the Company, won the Best Sigma Continuous Improvement Award. The award was given at Cummins China's 2014 Supplier Meeting held in December 2014. (From a press release on December 30, 2014)

-ASIMCO Meilian Braking Systems (Langfang) Co., Ltd., a subsidiary of the Company, has won the Synergy Award in Decemeber 2014..(From a press release on December 30, 2014)

-Hubei Super-Elec Auto Electric Motor Ltd., a joint venture of ASIMCO Technologies Limited, announced in January 2014 that it has received both the Excellent Quality Award from FAW-VW and the Excellent Supplier Award from Shanghai VW. (From a press release on January 20, 2014)

R&D structure

-The Company has around 450 R&D staff as of 2014.

R&D facilities

-The Company has 7 R&D centers as of 2014.
-In 2014, the R&D center on casting technologies established in ASIMCO International Casting Co., Ltd. (Shanxi).

Product Development

-ASIMCO Tianwei Fuel Injection Equipment (Beijing) Co., Ltd. has been developing diesel common rail system.
-Hubei Super-Elec Auto Electric Motor Co., Ltd. has been developing the new product, start-stop motor, which has been tested by VW and is expected to be supplied to the global platform of VW in 2015.

Technical Cooperation

Patents

-The Company has 126 patents for its products and technologies as of October 2014, including 34 invention patents.