Changzhou Xingyu Automotive Lighting Systems Co., Ltd. Business Report FY ended Dec. 2013
|(in million yuan)|
|FY ended Dec. 31, 2013||FY ended Dec. 31, 2012||
Rate of Change
|Sales||1,632.30||1,318.16||23.83%||-The Company deepened strategic cooperation with key car makers customers, increased intensity of market development, optimized product structure to achieve revenue growth.|
New Company-The Company announced that it will establish a wholly owned subsidiary in Hong Kong. The new company, which will be tentatively called Xingyu Automotive Lamps (Hong Kong) Co., Ltd, will be capitalized at HKD 20,000. (From an announcement by the company, September 10, 2013)
-The Company announced that it will establish a wholly owned subsidiary in Chengdu to gain a stronger foothold in the region. The new company, Chengdu Xingyu Automotive Lamps Co., Ltd., will be capitalized at CNY 5 million. It will produce and sell lighting products for vehicles and motorcycles as well as electronics products and plastic components for vehicles. The company will also perform development, production and sales of dies. In addition, the Chengdu facility will import and export new technologies and products. (From an announcement by the company, September 10, 2013)
-The Company announced that it will establish Jilin Xingyu Automotive Lamps Co., Ltd., a wholly owned subsidiary in Changchun City, Jilin Province. The new company, which will be capitalized at RMB 5 million, will develop, manufacture and sell automotive and motorcycle lamps, vehicle electronics components and plastic parts. It will also import and export products and technologies. (From an announcement by the company, May 9, 2013)
Strategic Cooperation-The Company announced that the company and the Nanjing unit of the China Quality Certification Centre (CQC) have reached an agreement to enter into a strategic partnership. Changzhou Xingyu Automotive Lamps will be positioned as CQC’s major customer eligible for receiving various services related to quality certifications. (From a press release, May 20, 2013)
-The Company was awarded " 2013 Top Ten Supplier of FAW-VW", "2013 FAW Jilin Trust Prize" and "2013 FAW Car Excellent Market Prize".
-The Company was awarded the 2012 Excellent Supplier Award from Chery Automobile, the “Core Supplier” title and the Excellent Supplier Award from the FAW Group, and the 2012 Outstanding Contribution Award from FAW Car. (From a press release, January 21, 2013)
Business Plan for Next Year
-In 2014, the Company plans to reach CNY 1.9 billion sales.
-The Company has a R&D Technology Center.
R&D Expenditure-The total R&D expenditure in 2013 was CNY 61.41 million, accouting for 3.76% of the Company's sales.
- The Company has obtained 13 invention patents, 100 utility model patents and 87 design patent in total.
-In 2013, the Company developed 64 new projects, completed mass production and transfered 68 projects. The Company's rear combination lights developed for FAW VW's new Golf was the leading level in China.
Capital investment project
|(in million yuan)|
|Project||Budget||Investment in 2013||Status|
|Increase annual production capacity of lamps by 1 million sets||250.00||32.88||99.73%|
|Increase annual production capacity of lamps by 0.5 million sets||588.00||47.64||24.83%|
-The Company announced that its subsidiary, Jilin Xingyu Automotive Lamps Co., Ltd., will establish an automotive lighting plant in Jilin. CNY 500 million will be invested in the 79,975-square-meter plant, which will consist of manufacturing facilities, a warehouse and an office building. The plant will be capable of producing lighting products for 1 million vehicles per year. These products will be supplied to customers in the Changchun region, including FAW-VW, FAW Car, FAW Jiefang, FAW Jilin and FAW Fengyue. Sales and profit are expected to reach CNY 517 million and CNY 83.63 million, respectively. (From an announcement by the Company, April 15, 2014)
-The Company announced that it will establish an LED lamp plant in Changzhou with a yearly production capacity of 500,000 sets. Covering the area of 68,716 square meters, the new facility will consist of a production facility, a die center, and a powertrain center. Construction work is scheduled to be completed in two years. The company is expecting to generate 855 million yuan in sales and 86 million yuan in sales profit at the new plant. (From an announcement by the company, April 19, 2013)