Changchun Faway Automobile Components Co., Ltd. Business Report FY ended Dec. 2013

Business Highlights

Financial Overview

(million yuan)
  FY ended Dec. 31, 2013 FY ended Dec. 31, 2012 Rate of Change (%) Factors
Sales 9,472.49 7,676.36 23.40%

-A slight increase in sales compared with last year

-Market share is relatively stable

Operating profit 446.00 462.66 (3.60%) -Material price increased.
-Parts price reduced.
-Supply to OEMS decreased.
Ordinary profit 448.67 466.93 (3.91%)
Net profit 416.68 450.58 (7.52%)

Business Plan for Next Year

-In 2014, the Company plans to reach CNY 11.01 billion sales.


R&D facilities

Name Company
Wheel R&D Center Changchun Faway Automobile Components Co., Ltd. Wheel Company
Faway-Johnson Technical Center Changchun Faway-Johnson Controls Automotive Systems Co., Ltd.

-In 2013, the Company’s R&D expenditure was CNY 75.59 million, 0.80% of the Company’s revenue.

-Faway-Johnson Technical Center is the Company’s provincial-level technology center.

-The technical centers have strengthened their development in the field of automotive exteriors and have the ability to simultaneously design 3 sets of bumpers.

-Changchun Faway Johnson Controls Automotive Electronics Co., Ltd. has the ability to research and develop software and hardware.

Investment Activities

Investment activity in 2013

(in million yuan)
Project Planned amount of investment Amount invested in 2013  Status
Plant construction in Chengdu 75.60 53.34 The main body has been complet.
Project in Foshan 184.94 105.26 Equipment debugging phase
Production equipment for Audi A3 31.63 16.66 The device is still in installation.
Project of D003 product mould of Huayisheng 12.44 0.39 Debugging phase
Project of B50G product mould of Shenzhen Huayisheng 5.04 5.04 Debugging phase
Production capacity upgrading project 49.98 21.03 The main body is not completed, and it is expected to be completed in June2014.