Business Report FY ended Dec. 2012

Business Highlights

Financial Overview

(in millions yuan)
  FY ended Dec. 31, 2012 FY ended Dec. 31, 2011 Increases (%) Factors
Sales 5,358.46 3,389.15 58.11 -The company completed acquisitions of Preh Holding GmbH and its subsidiaries, thus, sales rose in 2012.
Operating profit 300.14 258.23 16.23 -
Ordinary profit 311.71 268.45 16.11 -
Net profit 248.85 220.64 12.79 -

Major Contracts

-Preh GmbH announced that it will supply integrated center console units for the Ford Fusion. Preh's products will be installed on the Fusion S, SE and Titanium Classes. Production of the console units will take place at Preh's three locations: the base model at the Mexican unit; the middle-class model at the headquarters in Germany; and the high-end version at the Portuguese subsidiary. The touch panel software for the middle-class version was also developed by Preh. (From a press release, November 27, 2012)


-Preh GmbH was awarded the Excellent Supplier Award 2012 from Porche headquarters, becoming one of the 10 largest suppliers to the German automaker. (From a press release, December 27, 2012)

-The Company announced that Ningbo Joyson Automotive Electronics Co., Ltd., its subsidiary, has received a bronze medal in Shanghai VW's Excellent Quality Awards 2011. Liaoyuan Joyson Electronic was also selected as one of the automaker's A-class suppliers for the third consecutive year. (From a press release, January 18, 2012)


R&D Expenditure

-The Company's R&D spending in 2012 was CNY 187.22 million, a 103.26% increase from the previous year's figure of CNY 92.11 million. The Company's R&D spending for 2012 accounts for 3.49% of the Company's operating income for the year.

R&D Facilities

-The Company has R&D centers in Ningbo, Shanghai and Changchun. It has ability of synchronizing development with domestic and foreign customers. The research areas include:
  • Product modeling
  • Product design and development
  • Mold design and development
  • Tooling equipment design and development
  • Technology development
  • Hardware and software development
  • Electronic information development.
-The Company has R&D center in Germany as the core of Preh GmbH. The core competence covers product design, structural design, hardware and software development and testing, sensor technology, industrial engineering and tooling technology, etc. The development division of Preh in Germany has 364 employees.

Investment Activities

Capital Expenditure

(in millions yuan)
Project FY ended Dec. 31, 2012
Tooling 94.55
First phase plant construction project of Liaoyuan Joyson 12.61
Machinery and equipments 23.28
Second phase plant construction project of Changchun Joyson 27.12
Decoration, renovation and other projects 12.52