Changzhou Xingyu Automotive Lighting Systems Co., Ltd. Business Report FY2011
-Sales increased because the Company received new orders to supply a full set of lamps to FAW Toyota for the Corolla. In addtion, the volume of sales of the Tiguan, Tiggo, Golf and Satigar, which are equipped with the Company's lamps, significantly increased.
-With the existing customers of the FAW Group, Shanghai VW, Chery automobile, the Company expanded new business, including Dongfeng Nissan, GAMC, GAC Toyota etc. and won cognition from OEMs through integrity and quality service. The top 5 customers' sales accounted for 56.91 percent of the Comapany's incomes.
-In 2011, The company manufactured 24.6 million lamps, a year-on-year increase of 8.4%. The company has the capacity to produce 1.2 million sets of lamps, that is head lamps, combination rear lamps, and fog lamps 2.4 million respectively. In order to meet the demand of the market, the Company is building a facility to produce 1 million lamp sets.
-On December 27, 2011, the Company was awarded the Cost Improvement Award for 2011 from the FAW Group and the Excellent Localization Award from FAW VW. (From a press release on December 30, 2011)
-On December 21, 2011, the Company was awarded the Excellent Supplier for 2011 by Chery Automobile. (From a press release on November 23, 2011)
-On March 24, 2011, the Company received the Good Price Award from Toyota. (From a press release on March 25, 2011)
-By virtue of the successful cooperation with FAW VW on combination rear lamps for the "Jetta Ⅲ" and "Sagitar", the Company was given recognition as the Excellent Developer by FAW VW. This is the third time that the Company was awarded as the Excellent Developer. (From a press release on January19, 2011)
-The Company was was given recognition as the Excellent Supplier by FAW Group. It's the first time that FAW Group awarded this prize to as a lamp supplier. (From a press release on January 9, 2011)
-On October 12, 2011, the Company held a ceremony to launch the relocation of its Stage III Plant. In order to meet increasing demand, the Company relocated its plants in order to expand production volume, and improve its technology and on-site management. (From a press release on October 14, 2011)
-The Company raised funds to build facilities to produce 1 million sets of lamps, planning to achieve increased capacity by 32%, 65%, 80% and 100% starting from 2011 and ending in 2014, respectively. The Stage III Plant has been established and is conducting trials so as to go online in May, when it will operate at 60% capacity. Full, commercial production will begin in the first half of 2012. In addition, the completion of two
2000C coating lines added the capacity to coat 200 thousand aluminum sets. Improving its 4 head-lamp and rear-lamp production lines enhanced the efficiency of Futian Workshop. (From a press release on April 28, 2011)
-The Company has R&D Technology Center.
-In 2011, the Company has developed 90 products of 33 kinds, 50 of which have received the approval for production and are put into batch production. In 2012, the Company plans to enlarge the headlamps supply by developing business with FAW VW, Dongfeng Nissan etc.
-In 2011, the Company launched 124 projects with 14 OEMs, including FAW VW, Shanghai VW, Chery Automobile, FAW Car etc., in which head lamps, front fog lamps, combination rear lamps accounted for more than 50%.
Capital investment project
|(in million yuan)|
|Project||Budget||Investment in 2011||Status|
|Annual capacity of 1 million sets of lamps||450.00||108.82||81.51%|