Dongfeng Motor Parts And Components Group Co., Ltd. Business Report FY ended Dec. 2016
Financial Overiew
-Dongfeng Motor Parts and Components Group Co., Ltd. announced that its 2015 sales reached CNY 10.38 billion. Its passenger car components sales totaled CNY 4.68 billion, a 23.7% increase on a year-on-year basis. (From a press release on January 8, 2016)
New factory
-Dongfeng Behr Thermal Systems Co., Ltd., a joint venture of Dongfeng Motor Parts And Components Group Co., Ltd., opened its new plant in Shiyan on May 18, 2016. Plant construction began in the beginning of 2015 and was completed at the end of April 2016. The company invested CNY 35 million in the first phase of the construction project, in which a 12,000-square-meter plant was set up on approximately 33,000 square meters of land. The plant is capable of producing 180,000 sets of engine cooling systems per year. (From news releases issued by multiple sources on May 20, 2016)
New Company
-On July 6, 2016, Dongfeng Motor Parts and Components Group Co., Ltd. signed an agreement with Faurecia (China) investment company about setting up a joint venture exhaust system.
-Dongfeng Electronic Technology Co., Ltd., the Company's subsidiary, announced that Dongfeng Visteon Wuhan Automotive Trim Systems Co., Ltd., which is a 50-50 joint venture between DETC and Yanfeng Automotive Trim Systems Co., Ltd., has established a joint-venture company with Grupo Antolin of Spain. The new company is called Dongfeng Antolin (Wuhan) Automotive Trim Co., Ltd. It is capitalized at CNY 20 million, of which 51 percent was invested by Dongfeng Visteon Wuhan Automotive Trim Systems and the remaining 49 percent was provided by Grupo Antolin. The Wuhan facility would produce interior components such as roof trims and door panels. (From an announcement by the Company on January 26, 2015)
Transfer of Shares
-Dongfeng Electronic Technology Co., Ltd. (DETC) announced that Yanfeng Automotive Interiors Systems Co., Ltd. will acquire 50% of Dongfeng Visteon Automotive (Shiyan) Trim Systems Co., Ltd. shares from Yangfeng Visteon Investment Co. Ltd. After the transaction, Dongfeng Visteon Automotive (Shiyan) Trim Systems will be owned 50% by Dongfeng Electronic Technology and 50% by Yanfeng Automotive Interiors Systems. (From an announcement by the company on May 11, 2016)
Pass the Test
-In January 2014, Dongfeng Motor Electric Co., Ltd., a subsidiary of the Company, announced that its alternators have passed Dongfeng Motor Commercial Vehicle’s TQ2 testing. The commercial vehicle manufacturer’s TQ (Top of Quality) assessment consists of the following three processes: the TQ0 for project planning and product designing; the TQ1 for standardizing dies and tools; and the TQ2 for standardizing production processes. Dongfeng Motor Electric has satisfied the conditions for starting mass-production of the alternators after solving problems pointed out in the TQ0 stage. (From a press release on January 26, 2014)
Awards
-Dongfeng Electronic Technology Co., Ltd. (DETC) has received the Excellent Supplier Award 2014 from Anhui Hualing Automobile Co., Ltd., a heavy-duty truck manufacturer in China. (From a press release on February 4, 2015)
R&D Center
-Dongfeng Behr Thermal Systems Co., Ltd., which is a joint venture of Dongfeng Motor Parts and Components Group Co., Ltd., announced that it began operations of its new R&D center. Construction of this two-story center started in February 2014. The center has 5,000 square meters of space. The first floor with an area of 3,000 square meters will be used to perform testing and prototype production. The second floor that has an area of 2,000 square meters will be used as an office space and meeting rooms. (From a press release on July 13, 2015)