Shanghai Feilo Co., Ltd. Business Report FY ended Dec. 2013

Business Highlights

Financial Overview

(in millions CNY)
  FY ended Dec. 31, 2013 FY ended Dec. 31, 2012 Rate of Change (%) Factors
Sales 2,103.79 2,019.67 4.17 -In 2013, the Company's main business revenue of automotive electronics increased by 8.45% over the previous year.
Operating Profit 108.83 113.07 (3.75) -
Ordinary Profit 128.10 121.73 5.23 -
Net Profit 125.50 114.92 9.21 -

Pass the Inspection

-On May 16, the Company’s project of “Industrialization of critical auto body electronics parts” passed the inspection by National Development and Reform Commission of Jiading District and Jiading government. The total investment of the project is CNY 61.82 million, of which CNY 5.6 million is state-funded. The project completed seven production lines of auto body electronics, product testing center, technology center, production facilities renovation and technology upgrade facilities. The total annual production capacity is up to 5.9 million sets. During the project, the Company has been authorized 8 more invention patents. (From a press release on June 10, 2013)


-According to the Fifteenth Meeting of the Board of Directors, on Jan. 4, 2013, the Company completed the registration of cancellation procedures of Shanghai Feilo Electronics Systems Co., Ltd.

Business Plan for Next Year

-In 2014, the Company plans to reach 1,764.08 million sales. (From the Company's 2013 annual report)


R&D Expenditure

2013 2012 2011
R&D Expense
(in millions CNY)
89.18 77.03 38.24
Ratio of total revenue(%) 4.24 3.81 2.89

R&D Expenditure (in million CNY)

Project R&D Expense in 2013
(in millions CNY)
Instrument meters 4.54
Air conditioning controllers 1.95

R&D Structure

-The Company has three Shanghai Municipal Enterprise Technology Centers, a District Enterprise Technology Center, two test centers which are accredited by CNAS (China National Accreditation Service for Conformity Assessment) and a joint laboratory that it shares with various universities.


-The Company applied 26 patents in 2013, 17 of which are invention patents. At the end of 2013, the Company had 140 patents, including 36 invention patents.

-Recently, the Company’s subsidiary, Shanghai Yuanyi Electronics Co., Ltd., applied two patents of "harness assembly quality inspection system" and "harness protector" and has been authorized invention patent and utility model patent respectively. (From a press release on September 26, 2013)

Investment Activities

Capital Expenditure

(in millions CNY)
Project FY ended Dec. 31, 2013
New Facilities and Renovation of Older Facilities 14.25
Renovation of Existing Production Equipment 19.32
Instrumentations and Clusters 1.48

Investment In China

-Shanghai Hu Gong Auto-Electric Co., Ltd., a subsidiary of the Company, announced that it will invest CNY 92 million in the third phase of the plant construction project in Anting Town, Jiading District, Shanghai. Four new factories with a total floor area of 39,944 square meters will be constructed on 9,400 square meters of land. The facilities are expected to be completed in 16 months. In addition to increasing its production capacity, the Company hopes to improve its ability to develop new products through this expansion. (From an announcement by the company on October 28, 2013)

-Shanghai Feilo Co., Ltd. announced that Shanghai Hu Gong Auto-Electric Co., Ltd., its subsidiary, will revamp its automated production lines used to manufacture automotive relays. Shanghai Hu Gong Auto-Electric will invest a total of CNY 22.65 million in this project, CNY 15 million of which will be provided by Shanghai Feilo. (From an announcement by the company on October 28, 2013)