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Jiangnan Mould & Plastic Technology FY2011

Jiangnan Mould & Plastic Technology FY2011

Business Highlights

Business Results

 (in million yuan)
  FY2011 FY2010 Rate of change(%) Factors
Sales 1,964.25 1,970.85 (0.33%) -The sales of auto parts business increased 21.77%, while the sales of estate business decreased 71.41%.
Operating income 103.05 91.22 12.96% -
Ordinary income 109.21 94.27 15.85%
Net income 100.35 62.30 61.07%

Business overview of subsidiaries
- In 2011, Shanghai Mingchen Mould & Plastic Technology Co., Ltd. 's annual capacity achived 750  thousand sets. Shanghai Mingchen developed new customers(Fuzhou Benz and Chery Automobile) and  received the Excellent Supplier Award for 2011 from Shanghai GM.

- Yantai Mingyue Mould & Plastic Co., Ltd. finsihed construction and started operation.

- Shenyang Minghua Mould & Plastic Technology Co., Ltd. became the sole supplier in China to supply plastic interiors to Benz and also awarded by BMW as the Excellent Global Development Supplier.

- Beijing Beiqi Mould & Plastic Technology Co., Ltd.'s No.2 plant, which produces for Benz only, starts construction.(From the Company's 2011 annual report)

Contract
- In 2011, the Company has won new orders from Shanghai VW, Shanghai GM, Dongfeng-Peugeot-Citroen, Brilliance Jinbei、 Brilliance BMW, Fuzhou Benz, Beijing Benz, Guizhou Young Man Lotus, Chery Automobile, Beijing Hyundai and Dongfeng Motor. (From the Company's annual report of 2011)

Awards

- The Company received the Excellent Supplier Award for 2011 from both Shanghai GM and Dongfeng Peugeot Citroen.(From the Company's annual report of 2011)

R&D

R&D Structure

- The Company conducts research and development on automotive trim products at its Mould & Plastic R&D Center.
- In 2011, the Company applyed 103 patents, 25 of which are invention patents.

Investment Activities

Capital Investment Projects (as of Dec. 31, 2011）

 (in million yuan)
Project Amount invested in FY2011
Revamping production facilities at Wuhan Mingjie Mould & Plastic Co., Ltd. (second phase) 9.30
Constructing a coating production line at Yantai 20.38
Constructing a production facility at Yantai Mingyue Mould & Plastic Co., Ltd. 12.13

Investment in joint venture

- The Company and Beijing Hainachuan Automotive Parts Co., Ltd. announced that they will inject additional capital in Beijing Beiqi Mould & Plastic Technology Co., Ltd. in cash as announced on December 3, 2009. Beijing Hainachuan, which has a 51 percent shareholding in the joint venture, will invest 20.4 million yuan, raising its amount invested to 40.8 million yuan (51 percent); and the Company which has a 49 percent shareholding, will inject 19.6 million yuan, lifting its amount invested to 39.2 million yuan. (From a press release, October 25, 2011)