Zhejiang Asia-Pacific Mechanical & Electronic Co., Ltd. Business Report FY ended Dec. 2020
Financial Overview |
(CNY millions) |
| FY ended Dec. 31, 2020 | FY ended Dec. 31, 2019 | Rate of change | Factors | |
| Sales | 2,921.02 | 3,183.49 | (8.24) | -
-In 2020, the COVID-19 pandemic caused a delay in the resumption of production, a delay in the start of construction of upstream and downstream industries, a decrease in orders, and an increase in costs, resulting in a decrease in sales. |
| Operating profit | 16.20 | (87.21) | - | |
| Ordinary profit | 21.22 | (88.29) | - | |
| Net profit | 17.29 | (95.69) | - |
Contracts
Supply front calipers for the PSA Group for the CMP (Common Modular Platform)
-The Company announced that it will supply front calipers for the PSA Group for the CMP (Common Modular Platform), which is expected to begin deliveries to Europe in 2023. The CMP is a new modular multi-energy platform covering models of the PSA Group that are produced for major strategic markets. (From a press release dated December 15, 2020)
Strategic Partnership
-The Company announced that it has signed a strategic alliance agreement with Black Sesame Technologies Inc. The two companies will strengthen their collaboration in areas such as autonomous driving, advanced driver-assistance systems (ADAS), and in-vehicle sensors to build a long-term stable partnership and jointly develop the ADAS and autonomous driving markets by leveraging their respective strengths. (From a press release dated January 19, 2021)
Awards
-The Company won the following awards from major automakers in 2020:
| Presenter | Award |
| SAIC MAXUS | Excellent Supplier Award |
| GM | 2019 Supplier Quality Excellence Award |
R&D
-The company has core technologies and intellectual property rights in products including EV regenerative brakesand integrated ABS technology, clutch technology with pedal position detection function, integrated brake system technology, vacuum booster technology with emergency assist function, electromagnetic brakes, automatic gap adjustment brakes, penetration type boosters, and ultra-short brake master cylinders.
-Some items have obtained national invention patents in the field of automobile electronic products such as electric parking brakes (EPB), electric stability control (ESC), brake-by-wire, and regenerative braking for New Energy Vehicles.
-The Company announced that its intelligent integrated brake system R&D project was accepted by the Zhejiang Provincial Department of Science and Technology. With the project having been implemented for approximately three years, such products as EPBi (Integrated Electric Park Brake) system and IEHB (Integrated Electro-Hydraulic Brake) system have been developed through research on such key technologies as integrated design of electronic control units including ESC (Electronic Stability Control) and EPB (Electric Park Brake), quick forming and precise control of brake circuit hydraulic pressure, and coordination control of normal braking and regenerative braking. Currently, the products of the project have already been industrialized and implemented by several automakers. The company has applied for 9 invention patents with 1 approval while 12 utility model patents have been granted. (From a press release dated July 16, 2020)
R&D Expenses |
(CNY millions) |
| Year | FY ended Dec. 31, 2020 | FY ended Dec. 31, 2019 | FY ended Dec. 31, 2018 |
| R&D Expense | 159.36 | 164.16 | 157.58 |
| Percent of sales revenue (%） | 5.46% | 5.16% | 4.04% |
-As of Dec. 31, 2020, the Company has 358 R&D staff, accounting for 13.61% of the total staff.
Patents, etc
-The Company has obtained quality system certifications such as QS9000, VDA6.1, ISO / TS 16949, and IATF 16949. The automobile brake system has obtained the product certification of the China Automobile Product Certification Center, as well as QSB and QSB + certifications of Shanghai GM and Dongfeng Jinlong.
-As of December 31, 2020, the Company holds 928 patents. Of these, 64 are invention patents, 586 are utility model patents, and 278 are appearance patents.
-The Company announced that the State Administration for Market Regulation of China (or specifically Standardization Administration) approved a voluntary national standard (performance requirements and test methods for automatic emergency braking systems of passenger cars), which the company participated in drafting. The standard is numbered GB/T 39901-2021 and will be implemented from October 1, 2021. (From a press release dated March 17, 2021)
-The Company announced that its advanced driver assistance system (ADAS) development project received a certificate proving achievement of the ASPICE CL3 (Automotive Software Process Improvement and Capability Determination, Capability Level 3). The project involves a forward intelligent driving system, a blind spot monitoring system and an automatic parking assist system. (From a press release dated November 23, 2020)