Changzhou Xingyu Automotive Lighting Systems Co., Ltd. Business Report FY ended Dec. 2015
|(in million yuan)|
|FY ended Dec. 31, 2015||FY ended Dec. 31, 2014||
Rate of Change
|Sales||2,467.52||2,016.02||22.40%||-Stable development of automotive industry.
-Increase of customers and orders.
-The profit increase less due to the decrese of gross margin, the increase of employee compensation and R&D expense.
-In 2015, the lamp factory in Changzhou has annual production capacity of 39.87 million units (the design capacity is 45 million units), and the capacity utilization is 88.60%..
-By the end of 2015, the Company made the proposal to expand the Changchun factory and set up a R&D center.
-In October 2015, the Company signed the framework agreement with Hungarian Academy of Sciences and European Academy of Sciences to establish the workshop for foreign academicians, and then work together on the manufacturing process improvement, the accuracy of products increasing, and the automation transformation of production line. (From news releases issued by multiple sources on October 23, 2015)
-In 2015, the Company announced that it has won the following awards from car makers:
- "2015 Top10 suppliers Award" from FAW-VW, and selected as the core supplier.
- "Excellent Development Award" from FAW Car, and selected as the core supplier.
- "Quality Assurance Award" from FAW Jinlin.
-The Company has a R&D Technology Center.
-By the end of 2015, the Company made the plan to set up a "automotive eletronic and lighting R&D center".
|FY ended Dec. 31, 2015
|FY ended Dec. 31, 2014
|FY ended Dec. 31, 2013
|Ratio of R&D expenses to operating income||4.16%||3.45%||3.76%|
Capital investment project
|(in million yuan)|
|Project||Budget||Investment in 2015||Cumulative investment||Estimated production times||Full production capacity|
|Jilin Xingyu: annual production capacity of 1 million sets of lamps||500||43.60||116.18||Mar. 2016 (Phase 1)||100 million sets of headlamps, 100 million sets of rear combination lamps, 0.1 million sets of front fog lamps|
|Foshan Xingyu: lamp production and supply||300||11.14||11.14||Jan. 2017 (Phase 1)||0.5 million sets of headlamps, 0.8 million sets of rear combination lamps|