DOCSLIB.ORG

Annual Report 2019

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 2019 年報 2019 ANNUAL REPORT 2019 年 報 Annual Report Annual 2019 CONTENT Corporate Information 2 Financial Highlights 3 Chairman’s Statement 4 Management Discussion & Analysis 8 Directors and Senior Management 29 Report of Directors 37 Corporate Governance Report 55 Independent Auditor’s Report 70 Consolidated Statement of Profit or Loss 74 Consolidated Statement of Profit or Loss and Other Comprehensive Income 75 Consolidated Statement of Financial Position 76 Consolidated Statement of Changes in Equity 78 Consolidated Statement of Cash Flows 80 Notes to the Consolidated Financial Statements 83 Financial Summary 200 Corporate Information BOARD OF DIRECTORS JOINT COMPANY SECRETARIES Executive Directors Ms. ZHANG Hong Mr. CHEUNG Tak On (Chairman) Ms. MOK Ming Wai (FCIS, FCS) Mr. CAI Yingjie (Vice-chairman and Chief Executive Officer) AUTHORIZED REPRESENTATIVES Mr. WANG Zhigao (Vice-chairman) Mr. WANG Zhigao Mr. XU Yue (Vice-chairman and President) Ms. MOK Ming Wai Ms. CHEN Yi (Vice-president) AUDIT AND COMPLIANCE Non-executive Director Mr. WANG Liqun COMMITTEE Ms. ZHU Anna Dezhen (Chairman) Mr. LYU Wei Independent Non-executive Directors Mr. MU Binrui Ms. ZHU Anna Dezhen Mr. LYU Wei Mr. MU Binrui REMUNERATION COMMITTEE Ms. ZHU Anna Dezhen (Chairman) CORPORATE HEADQUARTER Mr. WANG Zhigao Mr. LYU Wei 299 Ruijin Nan Road, Huangpu District Shanghai PRC NOMINATION COMMITTEE Mr. CHEUNG Tak On (Chairman) PRINCIPAL PLACE OF BUSINESS Mr. LYU Wei Mr. MU Binrui IN HONG KONG Unit 5708, 57/F, The Center 99 Queen’s Road Central HONG KONG SHARE REGISTRAR Computershare Hong Kong Investor Services Limited Central Shops 1712-1716 Hong Kong 17th Floor, Hopewell Centre 183 Queen’s Road East REGISTERED OFFICE Wanchai 190 Elgin Avenue Hong Kong George Town Grand Cayman KY1-9005 Cayman Islands STOCK CODE 03669 PRINCIPAL SHARE REGISTRAR AND AUDITOR TRANSFER OFFICE Deloitte Touche Tohmatsu Intertrust Corporate Services (Cayman) Limited Certified Public Accountants 190 Elgin Avenue 35/F One Pacific Place George Town 88 Queensway Grand Cayman KY1-9005 Hong Kong Cayman Islands COMPANY WEBSITE LEGAL ADVISERS TO HONG KONG www.ydauto.com.cn LAW Davis Polk & Wardwell 18th Floor, The Hong Kong Club Building 3A Chater Road, Hong Kong 2 CHINA YONGDA AUTOMOBILES SERVICES HOLDINGS LIMITED Financial Highlights Passenger vehicles 2019 197,382 sales volume 2018 176,919 Sales volume of passenger 2017 vehicles (units) 171,640 0 50000 100000 150000 200000 Revenue 2019 62,707 RMB million 2018 55,318 2017 50,699 0 10000 20000 30000 40000 50000 60000 70000 80000 0 3 6 9 12 15 18 Gross profit and gross 2019 9.4% 5,864 profit margin 2018 9.4% 5,207 RMB million 2017 9.9% 5,025 0 1000 2000 3000 4000 5000 6000 Profit attributable to 2019 1,473 owners of the 2018 Company 1,253 RMB million 2017 1,510 0 500 1000 1500 2000 ANNUAL REPORT 2019 3 Chairman’s Statement Dear Shareholders, On behalf of the board of directors (the “Board”) and the management of China Yongda Automobiles Services Holdings Limited (the “Company”), I am pleased to present the 2019 Annual Report of the Company and its subsidiaries (collectively referred to as the “Group”, “we” or “us”). Based on the sales volume data officially published by luxury vehicles companies (豪華車企), the sales volume of luxury passenger vehicles in China in 2019 reached 3.143 million units, representing a year-on-year increase of 9.7%. However, based on the data of China Association of Automobile Manufacturers (中國汽車工業協會), the sales volume of passenger vehicles in China was only 21.444 million units in 2019, representing a year-on-year decrease of 9.6% compared with 2018. The luxury vehicles market has shown strong market momentum. As a leading passenger vehicle retailer and comprehensive service provider in China, our revenue and gross profit achieved relatively rapid growth in 2019. Our comprehensive revenue and comprehensive gross profit, taking into account the revenue from finance and insurance agency services, amounted to RMB63,801 million and RMB6,957 million respectively, representing a year-on-year increase of 13.3% and 12.6% respectively compared with 2018. In 2019, our net profit and net profit attributable to owners of the Company were RMB1,569 million and RMB1,473 million respectively, representing a year-on-year increase of 18.4% and 17.5% respectively compared with 2018. 4 CHINA YONGDA AUTOMOBILES SERVICES HOLDINGS LIMITED Chairman’s Statement KEY OPERATING RESULTS AND MANAGEMENT PERFORMANCE DURING THE REPORTING PERIOD 1. In 2019, our sales volume of new vehicles increased by 11.6% over the same period in 2018 to 197,382 units, of which sales of new vehicles of luxury brands increased by 15.5% year-on-year to 128,628 units. Our sales revenue of new vehicles reached RMB52,935 million, representing an increase of 13.3% compared with 2018, of which sales revenue from new vehicles of luxury brands increased by 14.5% over 2018 to RMB43,769 million. The proportion of sales revenue from new vehicles of luxury brands over the overall sales revenue of new vehicles has further increased to 82.7%. Our gross profit margin of new vehicle sales was 2.35%, which remained basically flat compared with 2.37% in 2018. The inventory turnover day of our new vehicle was 36.5 days, representing a decrease of 6.6 days compared to 2018. 2. In 2019, our after-sales service business, including maintenance services and automobile extended products and services, achieved steady growth and reached a revenue of RMB 8.897 billion, representing an increase of 13.5% compared to 2018. The gross profit margin of our after-sales service was 46.37%, representing a slight increase compared with 46.20% in 2018. 3. In 2019, the sales volume of pre-owned vehicles for which we acted as an agent was 41,295 units. We achieved continuous improvement in business scale and profit through our lean management. ANNUAL REPORT 2019 5 Chairman’s Statement 4. In 2019, we achieved the revenue of financial business of RMB1.617 billion, representing a 4.5% increase compared to the same period last year. We moderately slowed down the investment in proprietary finance. During this year, we achieved the revenue of proprietary finance business of RMB511 million and the revenue of finance and insurance agency business of RMB1.106 billion. 5. In 2019, our automobile rental services recorded revenue of RMB528 million, representing an increase of 29.2% compared to the same period in 2018. 6. In 2019, we completed the acquisitions and mergers of Porsche 4S dealership, Mercedes-Benz 4S dealership, Lexus 4S dealership and Tesla licensed metal sheet painting and maintenance center. 7. The Company has always kept pace with the times, vigorously promoted the construction of Digital Yongda, enchanced the scientific management of inventories, improved the management level for client assets and actively engaged youth talents in order to improve the Group’s comprehensive competitiveness. FUTURE PROSPECTS The Group believes that the industry policy to promote vehicle consumption upgrade in China is favorable in the long run. Upon the smooth resolving of novel coronavirus epidemic, there will be a relatively large recovery in the automobile market, and the sales of luxury brand automobiles and relevant service products are expected to continue to maintain a relatively good trend of growth. We plan to focus on the following aspects in our future development: 1. We will firmly uphold the automobile sales and services as principal business, particularly focusing on the development of luxury brand automobiles; 2. We will adhere to the measures of combining self-built outlets and acquisitions and mergers to steadily promote the nationwide network layout. We will focus on promoting the strategic expansion of luxury brands outlets including Porsche, BMW, Mercedes-Benz and Lexus; 3. We will vigorously push ahead the coordinated development of finance, pre-owned vehicles and new energy vehicle businesses, focusing on empowering the principal business of automobile sales and services to satisfy the changing demand and trend in consumers’ consumption; 4. We will take the construction of Digital Yongda as one of the key long-term tasks of the Group; 5. We will continuously fulfil the social responsibility of the Company; 6. We will enhance the team construction, actively engage young management, constantly improve the asset operation quality; adhere to manage with high objectives and strict requirements and insist on reformation and innovation to promote the sustainable development of the Company. 6 CHINA YONGDA AUTOMOBILES SERVICES HOLDINGS LIMITED Chairman’s Statement On behalf of the Board, I would like to express our sincere gratitude to all of the staff for their efforts and to various parties in the community for their supports towards the steady development of the Group. Cheung Tak On Chairman April 2, 2020 ANNUAL REPORT 2019 7 Management Discussion & Analysis MARKET REVIEW According to the sales volume data officially published by luxury vehicles companies (豪華車企), sales volume of luxury passenger vehicles in China reached 3.143 million units in 2019, representing a year-on-year increase of 9.7%, of which, sales of BMW increased by 13.1% year-on-year, sales of Porsche increased by 8.0% year-on-year, sales of Mercedes-Benz increased by 6.2% year-on-year and sales of Lexus increased by 25.0% year-on-year. According to the data from China Association of Automobile Manufacturers (中國汽車工業協會), the sales volume of passenger vehicles in China was 21.444 million units in 2019, representing a year-on-year decrease of 9.6% compared with 2018. The rapid growth in sales volume of luxury vehicles is mainly due to the continuous demand of consumption upgrade in China, the constant extension of luxury brand product lines and the enrichment of automobile finance products.
Load more

Recommended publications
  • Page Line Company Name Brand Type Code Cat
    Page Line Company Name Brand Type Code Cat. 1 1 Dongfeng Motor Co., Ltd. Dongfeng truck EQ1140L9CDF CV-H 1 2 Dongfeng Commercial Vehicle Xinjiang Co., Ltd. Dongfeng truck DFV1258GP6N CV-H 1 3 Hubei Kaili Special Purpose Vehicle Co., Ltd. Kailifeng Fecal suction truck KLF5070GXEB6 CV-H5 1 4 China National Heavy Duty Truck Group Jinan Commercial Vehicle Co., Ltd. Shande Card Truck chassis ZZ1256N56CHF1 CV-H 1 5 BYD Automotive Industry Co., Ltd. BYD Pure electric car BYD7004BEV2 PV-Car 1 6 Xuzhou Xugong Shiweiying Machinery Co., Ltd. XCMG Vehicle-mounted concrete pump truck XZS5144THB1 CV-H5 1 7 Hubei Xinchufeng Automobile Co., Ltd. Chufeng Pure electric truck chassis HQG1043EV12 CV-H 1 8 King Long United Automotive Industry (Suzhou) Co., Ltd. Hager Pure electric low-floor city bus KLQ6129GAEVN3 CV-H-Bus 1 9 Anhui Jianghuai Automobile Group Co., Ltd. JAC Pure electric truck HFC1040EV2 CV-H 1 10 Zhaoqing Xiaopeng New Energy Investment Co., Ltd. Xiaopeng Pure electric car NHQ7000BEVDL PV-Car 1 11 Zhaoqing Xiaopeng New Energy Investment Co., Ltd. Xiaopeng Pure electric car NHQ7000BEVDK PV-Car 1 12 Beijing Xingguang Lutong Audiovisual Broadcasting Technology Co., Ltd. Carrier Communication vehicle BZT5062XTX CV-H5 1 13 Zhengzhou Yutong Bus Co., Ltd. Yutong Command vehicle ZK5041XZHD61 CV-H5 1 14 Jiangsu Anqizheng Special Vehicle Equipment Co., Ltd. Anqi Zhengpai Water Purifier AQZ5180XJSZ6 CV-H5 1 15 Ningxia Heli Wanxing Automobile Manufacturing Co., Ltd. Ningqi Detachable garbage truck HLN5120ZXXE6 CV-H5 1 16 Wenzhou Dadaotong Electric Vehicle Co., Ltd. Xintailong Motorcycle XTL1000DT M-Moto 1 17 Jiangsu Anqizheng Special Vehicle Equipment Co., Ltd.
    [Show full text]
  • State of Automotive Technology in PR China - 2014
    Lanza, G. (Editor) Hauns, D.; Hochdörffer, J.; Peters, S.; Ruhrmann, S.: State of Automotive Technology in PR China - 2014 Shanghai Lanza, G. (Editor); Hauns, D.; Hochdörffer, J.; Peters, S.; Ruhrmann, S.: State of Automotive Technology in PR China - 2014 Institute of Production Science (wbk) Karlsruhe Institute of Technology (KIT) Global Advanced Manufacturing Institute (GAMI) Leading Edge Cluster Electric Mobility South-West Contents Foreword 4 Core Findings and Implications 5 1. Initial Situation and Ambition 6 Map of China 2. Current State of the Chinese Automotive Industry 8 2.1 Current State of the Chinese Automotive Market 8 2.2 Differences between Global and Local Players 14 2.3 An Overview of the Current Status of Joint Ventures 24 2.4 Production Methods 32 3. Research Capacities in China 40 4. Development Focus Areas of the Automotive Sector 50 4.1 Comfort and Safety 50 4.1.1 Advanced Driver Assistance Systems 53 4.1.2 Connectivity and Intermodality 57 4.2 Sustainability 60 4.2.1 Development of Alternative Drives 61 4.2.2 Development of New Lightweight Materials 64 5. Geographical Structure 68 5.1 Industrial Cluster 68 5.2 Geographical Development 73 6. Summary 76 List of References 78 List of Figures 93 List of Abbreviations 94 Edition Notice 96 2 3 Foreword Core Findings and Implications . China’s market plays a decisive role in the . A Chinese lean culture is still in the initial future of the automotive industry. China rose to stage; therefore further extensive training and become the largest automobile manufacturer education opportunities are indispensable.
    [Show full text]
  • Electrifying the World's Largest New Car Market; Reinstate At
    August 31, 2016 ACTION Buy BYD Co. (1211.HK) Return Potential: 15% Equity Research Electrifying the world’s largest new car market; reinstate at Buy Source of opportunity Investment Profile Electrification is set to reshape China’s auto market and we expect BYD to Low High lead this trend given its strong product portfolio, vertically integrated model Growth Growth and high OPM vs. peers. A comparative analysis with Tesla shows many Returns * Returns * strategic similarities but BYD’s new energy vehicle business trades at a sizable Multiple Multiple discount, which we see as unjustified given its large cost savings, capacity Volatility Volatility utilization, and front-loaded investment. China’s new energy vehicle market is Percentile 20th 40th 60th 80th 100th poised to deliver c.30% CAGR (vs. 4% for traditional cars) over the next decade. BYD Co. (1211.HK) We have removed the RS designation from BYD. It is on the Buy List with a Asia Pacific Autos & Autoparts Peer Group Average * Returns = Return on Capital For a complete description of the investment 12-m TP of HK$61.93, implying 15% upside. Our scenario analysis, flexing profile measures please refer to the disclosure section of this document. sales volume and margin assumptions, implies a further 30% valuation upside. Catalyst Key data Current Price (HK$) 54.00 1) More cities in China are likely to announce local preferential policies in 12 month price target (HK$) 61.93 Market cap (HK$ mn / US$ mn) 110,705.4 / 14,270.1 the new energy vehicle (NEV) segment once the result of the subsidy fraud Foreign ownership (%) -- probe is announced.
    [Show full text]
  • Performance Honeywell Annual Report 2001 Table of Contents
    FOCUSED ON PERFORMANCE HONEYWELL ANNUAL REPORT 2001 TABLE OF CONTENTS LETTER TO SHAREOWNERS 1 CONSOLIDATED STATEMENT OF OPERATIONS 34 FROM OUR NEW CEO 5 CONSOLIDATED BALANCE SHEET 35 FOCUSED ON CUSTOMERS 6 CONSOLIDATED STATEMENT OF CASH FLOWS 36 FOCUSED ON PRODUCTIVITY 10 CONSOLIDATED STATEMENT OF SHAREOWNERS’ FOCUSED ON PEOPLE 14 EQUITY 37 AEROSPACE 18 NOTES TO FINANCIAL STATEMENTS 38 AUTOMATION & CONTROL SOLUTIONS 20 REPORT OF INDEPENDENT ACCOUNTANTS 55 SPECIALTY MATERIALS 21 SHAREOWNERS’ INFORMATION 56 TRANSPORTATION & POWER SYSTEMS 22 LEADERSHIP TEAM 56 SELECTED FINANCIAL DATA 23 BOARD OF DIRECTORS 57 MANAGEMENT’S DISCUSSION AND ANALYSIS 24 FINANCIAL HIGHLIGHTS SALES SEGMENT PROFIT SEGMENT MARGIN (Dollars in Billions) (Dollars in Millions) (Percent) $3,629 $25.0 14.5 $23.7 $23.7 $3,271 13.8 $2,748 11.6 99 00 01 99 00 01 99 00 01 (Dollars and Shares in Millions, Except Per Share Amounts) 2001 2000 1999 Sales $23,652 $25,023 $23,735 Net Income (Loss)1 $ (99) $ 1,659 $ 1,541 Diluted Earnings (Loss) Per Common Share1 $ (0.12) $ 2.05 $ 1.90 Cash Dividends Per Common Share $ 0.75 $ 0.75 $ 0.68 Book Value Per Common Share $ 11.25 $ 12.03 $ 10.82 Total Assets $24,226 $25,175 $23,527 Common Shares Outstanding at Year-end 815 807 795 Employees at Year-end 115,000 125,000 120,000 1 In 2001, includes repositioning and other charges resulting in a net after-tax charge of $1,771 million, or $2.18 per share. In 2000, includes repositioning and other charges and a gain on the sale of the former Honeywell Inc.
    [Show full text]
  • China's Green Move – Vehicle Electrification Ahead
    China’s Green Move - Vehicle Electrification Ahead China’s Green Move – Vehicle Electrification Ahead August 8, 2012 Editor: Lead Analyst: Mark Fulton Michael Carboy (康博文) Managing Director Director Global Head of Climate Change Investment Research Head of China, India and Brazil Investment Research Lucy Cotter Reid Capalino Jane Cao (曹瑱) Associate Analyst Research Associate London New York Beijing Overview In this note we examine China’s ambitious goal to develop a fleet of 5 million electric vehicles by 2020 (the term “electric vehicles” used here includes plug-in hybrid electric vehicles and pure electric vehicles and does not include traditional hybrid-electric vehicles).1 Such a fleet would represent 43% of the estimated global PHEV/EV fleet and 0.4% of the global passenger vehicle fleet (all engine types)2. Based on the goals and targets set forth in the Ministry of Industry and Information’s (MIIT) recently released “China Energy Efficient and New-Energy Vehicles Industrial Plan 2012-2020,” we develop a forecast of what we believe is achievable for production and sales and include a review of other market forecasts. China is planning to fund this ambitious goal with RMB115 billion (USD$18 billion). Even if China were to achieve 70% of its fleet goals by 2020 which is our central expectation, the country still will have achieved a Herculean accomplishment that will reduce the pace of GHG emissions and petroleum consumption as the country’s emerging middle class becomes increasingly urbanized and mobile. China targets a domestically manufactured electric vehicle (PHEV and EV) fleet of 500,000 vehicles by 2015; a fleet of 5 million electric vehicles by 2020 and a manufacturing infrastructure capable of producing 2 million electric vehicles per year by 2020.
    [Show full text]
  • Foreign Supplier Verification Programs - List of Participants (Name and State Only) March 4, 2021 - June 3, 2021
    Foreign Supplier Verification Programs - List of Participants (Name and State Only) March 4, 2021 - June 3, 2021 Firm Legal Name State Code ALASKA DENALI WINERY AK ALASKAN BREWING, LLC AK CHARLOTTE GILBERT AK DOUG HOLMES INC AK PERMAN STOLER AK S. VALLEY FARM LLC AK THE BREW SHOP AK ALEX KONTOS FRUIT CO., INC. AL ALOHA HOSPITALITY INTERNATIONAL, INC. AL ASSOCIATED GROCERS OF THE SOUTH, INC. AL BAMA TOMATO COMPANY, INC. AL BARIATRIC HEALTH & WELLNESS, P.C. AL BARIATRICS AL BETTER SNACKS, LLC AL CHARLIE FOSTER'S LLC AL CITY OF MONTGOMERY AL COMERCIALIZADORA Y DISTRIBUIDORASORIANO LLC AL COOSA VALLEY MILLING CO INC AL DOLGENCORP, LLC AL DOS NINAS COFFEE, LLC AL DRAGONFLY GLOBAL MARKETING L.L.C. AL EVONIK CORPORATION AL FORESTWOOD FARM, INC. AL FROMAGERIE BELLE CHEVRE, INC. AL FUERST DAY LAWSON LIMITED AL FULFYLD, LLC AL GREER AUTRY & SONS INC AL GUATE-USA IMPORT & EXPORT AL GULF COAST CRAB INTERNATIONAL AL HEALING FOODS LLC AL ISPICE, LLC AL JOHN R. WHITE COMPANY, INCORPORATED AL KALIMERA LLC AL Foreign Supplier Verification Programs - List of Participants (Name and State Only) March 4, 2021 - June 3, 2021 Firm Legal Name State Code KALIMERA, LLC AL KELLY SALES COMPANY, INC. AL KESTERS DISTRIBUTION AL LINEAGE LOGISTICS, LLC AL MAHA LAXMI ONE AL MARX BROTHERS, INC. AL MCLANE COMPANY, INC. AL MF FOODS USA , LLC AL MILO'S TEA COMPANY, INC. AL MITCHELL GROCERY CORP AL MITCHELL GROCERY CORP. AL MONZU TROPIC IMPORTS, LLC AL NORDIC COLD STORAGE, LLC AL PIGGLY WIGGLY ALABAMA DISTRIBUTING CO., INC. AL ROYAL CUP INC. AL RYAN HOPKINS AL SACHAI TEA COMPANY LLC AL SAM SHARP AL SCRIPTURE CANDY, INC.
    [Show full text]
  • The Future of Mobility Ride-Hailing and New Businesses to Fuel $7Tn+
    EQUITY RESEARCH | June 4, 2019 | 6:25 AM EDT The following is a redacted version of the original report. See inside for details. THE FUTURE OF M BILITY Ride-hailing and new businesses to fuel $7tn+ global mobility market The next 10 years of mobility will bring more change in the way that people and products move than any decade since the invention of the automobile. Emerging technologies and business models like ride-hailing and sharing, autonomous driving and delivery, micro-mobility and even eVTOL (flying cars, finally) stand to disrupt profit pools that we estimate exceed $700bn, and venture backed startups and incumbents will attempt to address over $7tn in spend- ing. Given the size of the opportunity, it should come as no surprise that access to capital has created a hyper competi- tive environment marked by massive operating losses driven by marketing, subsidies, incentives, and capital in- vestment. As this environment matures and rationalizes, we expect consolidation that will lead to profitability, the establishment of category leaders, and significant opportunities for investors. Heath P. Terry, CFA Daniel Powell Piyush Mubayi Frank Jarman David Tamberrino, CFA Adam Hotchkiss +1 212 357-1849 +1 917 343-4120 +852 2978-1677 +1 212 902-7537 +1 212 357-7617 +1 212 902-3941 [email protected] [email protected] [email protected] [email protected] [email protected] [email protected] Goldman Sachs & Co. LLC Goldman Sachs & Co. LLC Goldman Sachs (Asia) L.L.C. Goldman Sachs & Co. LLC Goldman Sachs & Co. LLC Goldman Sachs & Co.LLC Goldman Sachs does and seeks to do business with companies covered in its research reports.
    [Show full text]
  • Guangzhou 2019: Wie China Die Autowelt Verändert
    Auto-Medienportal.Net: 25.11.2019 Guangzhou 2019: Wie China die Autowelt verändert Von Des Sellmeijer, cen Während die meisten Medien von der Los Angeles Auto Show in Kalifornien berichten, findet gleichzeitig im Fernen Osten eine nicht minder wichtige Automesse statt: Die Guangzhou Auto Show 2019 in Kanton, der Hauptstadt der Provinz Guangdong mit mehr als 100 Millionen Einwohnern, unweit von Honkong und Macao. Mehr als 900 000 Besucher konnte die Messe zuletzt verzeichnen; sie gibt traditionell einen guten Überblick über die Entwicklung von Markt und Herstellern in China. Erster Eindruck: 15 Hallen sind gut gefüllt, nahezu alle großen chinesischen und ausländischen Marken sind heuer in Kanton vertreten. Auch Liebhaber von Luxusautos und Exoten kommen auf ihre Kosten; unter anderem zeigen Aston Martin, Bentley, Lamborghini, Lotus, McLaren, Porsche und Rolls-Royce ihre neuesten und schönsten Modelle. Nur Ferrari ist nicht dabei. Was für ein Kontrast zur schlechten Beteiligung auf der jüngsten Frankfurter IAA! Die Chinesen holen schnell auf Noch vor wenigen Jahren wurden die chinesischen Hersteller für ihre merkwürdigen Designs und schwache Produktqualität verspottet. Aber diese Messe ist ein Augenöffner für den Rest der Welt: China holt auf – und zwar schnell. Noch immer gibt es eine neue Marke nach der anderen. Aber die Autos sind besser geworden, und die Präsentation hält jedem Vergleich stand. Überall gibt es visuelle Erlebnisse: Spiele, interaktive Präsentationen, Live-Vorführungen und mehr. All dies soll die Besucher an die Stände fesseln und ihnen die Marken nahebringen. Als Vorbild dafür diente offensichtlich die Präsentation von Mini – aber die Chinesen haben den Ansatz der BMW-Tochter übernommen und so weit verfeinert, daß der Mini-Stand im Vergleich zu ihnen langweilig wirkt.
    [Show full text]
  • ENVIRONMENTAL, SOCIAL and GOVERNANCE REPORT 2017 Contents
    ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT 2017 Contents Group Profile 2 About this Report 3 Message from the Management 4 Key Performance During the Reporting Period 5 1. Responsible Enterprise with Integrity 6 1.1. ESG Governance 6 1.2. Stakeholders Engagement 7 1.3. Materiality Analysis 9 1.4. Anti-Corruption 11 2. Strive for Perfection and Embrace Change 13 2.1. Innovative R&D 13 2.2. Product Responsibility 15 2.3. Win-Win Cooperation 18 3. Beautiful Minth: Environmental Protection 20 3.1. Environmental Management 20 3.2. Green Operations 21 3.3. Environment-Friendly Culture 28 4. Safety First: Focus on Health 30 4.1. Health and Safety Management 30 4.2. Production Safety 31 4.3. Safety Culture 33 5. Unified Team: Love in Minth 35 5.1. Beauty of Employees 35 5.2. Joint Development 38 5.3. Holistic Health 41 6. Bringing Hope for “Pearls”: Giving Back to the 46 Society 7. Appendix: HKEX ESG General Disclosures and 52 KPIs GROUP PROFILE Minth Group Limited was listed in Hong Kong (stock code: 0425) on 1 December 2005. The Group is mainly engaged in the design, manufacture, and sale of trims, decorative parts, body structural parts, roof racks, and other related auto parts. The Group has manufacturing bases mainly located in China, the United States, Group Profile Mexico, Thailand and Germany, supplemented by R&D centers in China, Germany, North America and Japan. It serves major automotive markets all over the world and caters to the ever-growing customer demand. GROUP STRUCTURE Minth Group Limited China Overseas Regions Regions Huai’an Functional East East Central South North department/ Chongqing Aluminium Operations Operations Operations Operations Operations China China China China China center at the Region Business in the U.S.
    [Show full text]
  • Annex: Vehicle Manufacturers and Products Vehicle Manufacturers and Products ( 248 ) the First Part of New Products , Automobile
    Annex: Vehicle manufacturers and products ((( 248 ) The first part of New products , Automobile manufacturer Of the Serial list of Business name Trademarks Product name Product model number serial numbers 1 China first 1 Faw Jiefang Truck CA1044、CA1250、CA1083 automobile Group Trucks-chassis CA1044、CA1250、CA1160、 Corporation CA1083 Gas dump truck CA3250、CA3310 Gas dump truck CA3250、CA3310 chassis Dump truck CA3250 Dump truck chassis CA3123、CA3250、CA3162、 CA3165、CA3190、CA3201、 CA3160 Bus chassis CA6770、CA6980、CA6690 Van-type truck CA5120X、CA5083X、 CA5044X、CA5250X、CA5160X Van-type truck CA5120X chassis Wing opening van CA5161X truck Stake truck CA5160CCY、CA5044CCY、 CA5250CCY Fire truck chassis CA5320TXF Traction motors CA4250、CA4220 Animal transport CA5160CCQ、CA5250CCQ vehicles Awnings-transport CA5160CPY、CA5250CPY、 trucks CA5044CPY Dump garbage truck CA5310ZLJ Car transporter CA5170TCL 2 Faw Jilin 1 Faw Jiefang Van truck CA5020X automobile Ltd Multi-purpose CA6390 passenger vehicle Ambulance CA5020X Postal truck CA5020X 3 Faw - Volkswagen 2 Mass cards Cars FV7147 4 Dongfeng Nanchong 3 Ka Loon Dump truck DNC3040、DNC3120 automobile Ltd Dump truck chassis DNC3040、DNC3120 5 Dong feng Xiaokang 3 Dong Feng Truck EQ1021 Motors Limited brand Trucks-chassis EQ1021 Stake truck EQ5021CCY 6 Dongfeng Honda 3 Jed (JADE) Passenger cars DHW6462、DHW6463 Of the Serial list of Business name Trademarks Product name Product model number serial numbers automobile Cars DHW7183、DHW7182 limited 7 Dongfeng Motor 3 Dong Feng Trucks-chassis EQ1102、EQ1080、EQ1140、 Corporation
    [Show full text]
  • 2013-07-18 Po
    PLYMOUTH LOCAL M U D D ERS TOUGH IT OUT S P O R T S , B 1 Skepticism greets Flanagan’s proposal Local school district leaders fear loss of control Michigan Superintendent of By Brad Kadrich ment, food service, accounting, countywide bureaucracy would be Schools Mike Staff Writer education technology and other overwhelming,” Barrett said. “It’s Flanagan, shown operations. difficult enough running a very here at an event A consolidation proposal by Local school districts would large district, but to run it from a last year with state Superintendent Mike Flana­ “focus primarily on getting their county level... maybe there are form er gan to transfer administrative students to higher levels of some things we could learn going Plymouth-Canton functions from Michigan’s 500- achievement and on education forward. Superintendent Dr. plus school districts to existing evaluations,” he stated. “A much better idea is what Jeremy Hughes, intermediate school districts is Plymouth-Canton is already doing, has suggested drawing mixed responses from Opinions vary with sharing food service opera­ making municipal, political and public Not everyone agrees. John tions with Livonia. That’s has been countywide school school officials around Wayne Barrett, the president of the Ply­ very successful.** districts. County. mouth-Canton Board of Educa­ State Rep. Kurt Heise, R- His proposed “hybrid system” tion, called it “an interesting con­ Plmouth Tonship, whose district would centralize administrative cept” that would be overwhelming covers Plymouth, Northville and and academic functions at the to do, particularly in large coun­ part of Canton Township, said county or regional level, including ties like Wayne.
    [Show full text]
  • Duxes Auto Series 2008-2017
    Duxes Auto Series Duxes Auto Series 2008-2017 Combined Review 10 Years, Focusing on Auto Industry Research, with coverage of Green Vehicles in China and Asia Pacific Region 7 Series, Gathering more than 1600 Industry Experts, Discussing Market Access, Innovative Technology and Business Patterns in the Green Vehicle Market More than 850 Leading Multinational Enterprises, Sharing Strategic Plans and Solutions Significant Support Auto Series 2008-2017 World Renowned Associations: Some Endorsement Letters: 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 This document contains confidential business information, please do not disclose without written permission. All copyrights reserved. Photo Gallery Auto Series 2008-2017 This document contains confidential business information, please do not disclose without written permission. All copyrights reserved. Some Previous Speakers Auto Series 2008-2017 From Government Deputy Director, Environmental Control Deputy Director, Automotive Technology Office, Environmental Engineering Department Management Bureau Road Transport Department of Ministry of the Environment, Japan Malaysia Advisor & Scientist ‘G’ Director of WTO Division, Multilateral Ministry of Environment and Forests & Trade Policy Department Climate Change, India Ministry of Industry and Trade, Vietnam Deputy Director of Academic Department Head of Strategic Research Division Thailand Automotive Institute (TAI) Malaysia Automotive Institute (MAI) Director, Expert Director-General Chinese Research Academy of Environmental Vehicle Emission
    [Show full text]