Changzhou Xingyu Automotive Lighting Systems Co., Ltd. Business Report FY ended Dec. 2012

Business Highlights

Financial Overview

(in million yuan)
FY ended Dec. 31, 2012 FY ended Dec. 31, 2011
Rate of Change
Sales 1,318.16 1,097.52 26.04 1)
Operating profit 206.32 185.16 16.42


Ordinary profit 220.67 198.45 23.08
Net profit 188.14 167.22 21.92


1) Sales
-In addition to existing contracts with the FAW Group, Shanghai VW, Chery Automobile and Dongfeng Nissan, the Company expanded its business with other companies including GAMC and GAC Toyota in 2012. The Company also gained new customers in Beiqi Foton and Jinnan Heavy Duty Vehicle. In 2012, the top customers’ sales accounted for 68.55% of the Company’s income.

New Company

-The Company decided at a board meeting that it will establish a wholly-owned subsidiary at the Nanhai Economic and Development Zone in Foshan, Guangdong Province. The new company, Xingyu Automotive Lighting Systems (Foshan) Co., Ltd., will be capitalized at 5 million yuan. It will manufacture and sell lighting products for automobiles and motorcycles, automotive electronic and plastic parts, and dies. The board of directors also agreed on acquiring rights to use a piece of land at the Changchun Economic and Technological Development Zone. (From an announcement by the company, November 30, 2012)

-The Company announced that it would establish a joint venture with Markus Munzenmaier in Melle, Germany. The new entity, tentatively named Xinyu Automotive Lighting Systems Europe GmbH, will be capitalized at 100,000 euro, of which 90 percent will be invested by the Company, and the remaining 10 percent by Markus Munzenmaier. The joint venture will function as the Chinese supplier’s European sales and development base. Its employees will gather local market information, cultivate new customers, and engineer new products. (From an announcement by the company, November 23, 2012)

-In March 2012, the Company received the C220 Activity Excellent Award and the 2011 Quality Effort Award from FAW Toyota. The Company also received the 2011 Good Price Award and the 2011 Good Quality Award from Sichuan FAW Toyota Changchun Fengyue. (From a press release on April 1, 2012)


R&D Facility
-The Company has a R&D Technology Center.

Project development

-The Company’s research and development efforts have focused on LED lighting and optical technologies. In 2012, the Company had developed 207 products, 65 of which received approval and were put into batch production. This will provide a solid foundation for product development over the next two years. In 2012, the Company also participated in the development of national standards for side marker lamps and formally submitted a proposal for approval. The Company’s technology center was named the Jiangsu Province Industrial Design Center. -In 2012, the Company had 3 invention patents authorized. The Company has 8 authorized invention patents and over 150 patent licenses in total.

Investment Activities

Capital investment project

(in million yuan)
Project Budget Investment in 2012 Status
Increase annual production capacity of lamps by 1 million sets 250.00 32.88 88.90%