Anhui Zhongding Sealing Parts 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||6,543.08||5,040.19||29.82%||-Stable development of automotive industry.
-Increase of customers and orders.
-The Company announced that Zhongding Europe GmbH, its wholly owned subsidiary, has signed an agreement to acquire AMK Holding GmbH & Co. KG for EUR 130 million. The company and AMK shareholders already agreed on this deal. AMK, based in Kirchheim unter Teck in southeast Germany, manufactures motor battery control systems and electronic control units for driver assistance systems and chassis systems. The company generated EUR 47.42 million in sales and EUR 3.88 million in net profit in the first quarter of 2016. (From an announcement by the company on June 12, 2016)
-The Company announced that Zhongding Europe, its wholly owned subsidiary, will acquire 42.87% of Swiss-based Green Motion SA shares by investing CHF 12 million. Green Motion SA was established in 2009, and is located in Lausanne. It mainly supplies hardware and software for EV charging infrastructure and establishes and maintains charging infrastructure. (From an announcement by the company on March 25, 2016)
-Zhongding Europe Holding Limited, subsidiary of the Company, signed "Equity Transfer Agreement" with Federal Mogul Sas to acquire 100% shares of FM Sealing to Zhongding Europe at 1 euro. In view of financial loss of FM Sealing, the transferor FM Sealing would compensate EUR 11.85 million to Zhongding Europe for expenditure on transformation and make up for future operating losses. Established from 1882 in Lyon, France, FM Sealing mainly provided seal technology and solutions of engines, transmissions, batteries for Audi, BMW, Fiat, Ford, Renault and PSA Peugeot Citroen. (From an announcement by the company on October 9, 2015)
-Zhongding Europe Holding Limited, subsidiary of the Company, signed "Equity Transfer Agreement" with WEGU Holding GmbH to acquire 100% shares of WEGU Holidng to Zhongding Europe at EUR 95 million. WEGU Holding mainly produced exhaust noise damping system, power system noise dampers, chassis systems noise dampers, steering system noise damper for BMW, Mercedes Benz, Audi, Land Rover and other OEMs. (From an announcement by the company on February 11, 2015)
-In January 2015, the Company annouced the Company and Ningbo Tiansheng Sealing Co., Ltd., Song Wei and Long Xuesheng had signed an agreement to establish Tianding Sealing Technology (Beijing) Co., Ltd. The new company will be capitalized at CNY 30 million. Anhui Zhongding will provide CNY 27 million and own 90%, Ningbo Tiansheng will provied CNY 1.8 million and own 6%, Song Wei will provide CNY 600,000 and own 2% and Long Xuewu will provide CNY 600,000 and own 2%. The new company will be engaed in R&D, production and sales of sealing products. (From an announcement by the company on January 21, 2015)
Come into Operation
-Anhui Zhida Zhongding Automotive Charging Equipment Co., Ltd., the Company’s subsidiary, mass produced new generation intelligent charging equipment. The production line is designed with annual capacity of 80,000 units. The new product has the function of remote communication and data exchange. It has passed test of National New Energy Vehicle Quality Supervision and Inspection Center. (From an announcement by the company on October 17, 2015)
-The Company was awarded as Bosch’s “Excellent Supplier” in Asia on June 13. It is the first time for supplier to get the prize. (From a press release on June 13, 2016)
-The Company has a state-certified enterprise technology center.
-The Company has R&D branches in Shanghai, Guangdong, Jiangsu, Hefei, Xuancheng and establishes R&D centers in America and Europe.
|Shanghai Jiaotong University||Set up "Rubber Research Joint Institute" to R&D and test new rubber material & new technology.|
|Tsinghua University Automotive Engineering Department||Signed technical development contract to develop rubber shock absorber components.|
|Anhui University||Established "Anhui University Zhongding Rubber Technology Development Co., Ltd." jointly to develop and improve rubber products; set up "Anhui
Rubber Material Products Provincial Lab" to conduct rubber materials cutting-edge products research and experiment.
|Anhui University & Guangzhou Mechanical Engineering Research Institute||Jointly set up "Special Rubber Material Products Industry Technology Innovation Alliance" to conduct rubber materials products industry generic technology research.|
-By the end of 2015, the Company has 399 patents, including 37 domestic invention patents, 38 foreign patents.
|FY ended Dec. 31, 2015
|FY ended Dec. 31, 2014
|FY ended Dec. 31, 2014
|Ratio of R&D expenses to operating income||3.81%||3.01%||3.45%|