Jiangnan Mould & Plastic Technology FY2009
(in million yuan)
|FY2009||FY2008||Rate of change(%)||Factors|
|Sales||1,727.35||1,436.15||20.28%||-The national economic recovery policy set out by the government, and policies to promote demand in China, led to increased sales.|
Contract-On May 13,2009, the Wuhu Investment Project Meeting was held in Wuxi, JiangsuProvince. During the meeting, Wuxi City and Wuhu City came to an agreementto form a strategic alliance. Based on the agreement, the Company signed a letter of intent to supply its products to Chery Automobile.
-In 2009, the Company has won new orders from Shanghai VW, Shanghai GM, Dongfeng-Peugeot-Citroen, Brilliance Jinbei、 Brilliance BMW, Fuzhou Benz and Dongfeng Motor. Besides orders from these existing customers, the Company also won contracts from Beijing Benz, Guizhou Young Man Lotus, Chery Automobileand Beijing Hyundai. Among these contracts, the supply to Beijing Benz, Guizhou Young Man Lotus and Chery Automobile has started and the product to Beijing Hyundai is in development stage.(From the Company's annual report of 2009)
Joint-venture/Subsidiary-The Company started the construction of its subsidiary, Yantai Mingyue Mould & Plastic Co., Ltd., which was established to provide exterior parts to Shanghai GM Dongyue. (From the Company's annual report of 2009)
-Beijing Beiqi Mould & Plastic Technology Co., Ltd., a joint-venture between the Company and Beijing Hainachuan Automotive Parts, a subsidiary of Beijing Automotive Industry, has come into the commissioning stage of its product line. This company is expected to start mass production from 2010 and provides OEM supply to Beijing Benz and Beijing Hyundai.(From the Company's annual report of 2009)
R&D Structure- The Company conducts research and development on automotive trim products at its Mould & Plastic R&D Center.
Capital Investment Projects (as at the end of Dec. 2009)
(in million yuan)
|Project||Budgeted amount||Amount invested in FY2009||Ratio of amount already invested|
|Revamping production facilities at Wuhan Mingjie Mould & Plastic Co., Ltd. (second phase)||70.00||22.59||85.00%|
|Constructing a production facility at Yantai Mingyue Mould & Plastic Co., Ltd.||110.00||3.21||30.98%|