DOCSLIB.ORG

2016 Annual Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

ANNUAL REPORT 2016 年 報 2016 年報 ANNUAL REPORT 2016 Contents Corporate Profile 02 Corporate Information 04 Our Products 06 Business Overview 10 Financial Highlights 20 Chairman’s Statement 22 Management Discussion and Analysis 24 Directors and Senior Management 33 Directors’ Report 41 Corporate Governance Report 58 Independent Auditor’s Report 69 Consolidated Balance Sheet 76 Consolidated Income Statement 78 Consolidated Statement of Comprehensive Income 79 Consolidated Statement of Changes in Equity 80 Consolidated Statement of Cash Flows 81 Notes to the Consolidated Financial Statements 82 Five Years’ Financial Summary 146 NEXTEER AUTOMOTIVE GROUP LIMITED ANNUAL REPORT 2016 02 Corporate Profile Nexteer Automotive Group Limited (the Company) together with its subsidiaries are collectively referred to as we, us, our, Nexteer, Nexteer Automotive or the Group. Nexteer Automotive is a global leader in advanced steering and driveline systems, advanced driver assistance systems (ADAS) and autonomous vehicle technologies. In-house development and full integration of hardware, software and electronics give Nexteer a competitive advantage as a full service supplier. Our vision is to remain a leader in intuitive motion control – leveraging our strengths in advanced steering and driveline systems. We maintain product focus on electric power steering (EPS), a socially responsible technology that offers automakers increased fuel economy and reduced emissions. Nexteer Automotive has put more than 40 million EPS units on the road, since 1999, saving more than 4 billion gallons of fuel. Our ability to integrate our systems seamlessly into automotive original equipment manufacturer (OEM) vehicles is a testament of our 110-year heritage of vehicle integration expertise and product craftsmanship. Our corporate culture inspires employees to achieve personal and corporate growth by focusing on the Company’s core values across all aspects of the enterprise: people, operational excellence and sustainable growth. We seek to be the partner of choice for our customers and suppliers by delivering dependable safety-critical products and building enduring relationships. Nexteer provides real-world, vehicle-level solutions: • Customer Focused: Respected and trusted for delivering on commitments • Proactive: We listen carefully to understand customer requirements • Innovative: A market leader in steering and driveline innovation • Agile: Able to respond quickly with high-quality, cost-effective solutions • Global: Committed to exceeding customer and vehicle needs every time, everywhere NEXTEER AUTOMOTIVE GROUP LIMITED ANNUAL REPORT 2016 03 Corporate Profile GLOBAL FOOTPRINT World Headquarters: Auburn Hills, Michigan, United States of America Manufacturing Plants: 23 Manufacturing Plants of 1 Non-Consolidated Joint Venture: Application Engineering Centres: 5 Customer Service Centres: 11 Full-Time Equivalent 13,700+ Global Workforce: Global Customers: 50+, including BMW Group (BMW), Fiat Chrysler Automobiles N.V. (FCA), Ford Motor Company (Ford), General Motors Company and Subsidiaries (GM), SAIC General Motors Co., Ltd. (SGM or Shanghai GM), SAIC-GM- Wuling Automobile Co. Ltd. (SGMW), PSA Groupe (PSA), Toyota Motor Corporation (Toyota) and Volkswagen Group (Volkswagen) as well as domestic automakers in India, China and South America OUR PRODUCTS ELECTRIC COLUMNS & HYDRAULIC ADAS & DRIVELINE POWER INTERMEDIATE POWER AUTONOMOUS SYSTEMS STEERING SHAFTS STEERING TECHNOLOGIES NEXTEER AUTOMOTIVE GROUP LIMITED ANNUAL REPORT 2016 04 Corporate Information BOARD OF DIRECTORS AUDITOR Executive Directors PricewaterhouseCoopers ZHAO, Guibin (趙桂斌) (Chairman and Chief Executive Officer) AUDIT AND COMPLIANCE COMMITTEE RICHARDSON, Michael Paul FAN, Yi (樊毅) WEI, Kevin Cheng (Chairman) TSANG, Hing Lun Non-Executive Directors LU, Daen (resigned with effect from and upon LU, Daen (錄大恩) (resigned with effect from and the conclusion of the Board meeting held on upon the conclusion of the Board meeting held on March 14, 2017) March 14, 2017) YANG, Shengqun (appointed with effect from WANG, Xiaobo (王曉波) March 14, 2017) YANG, Shengqun (楊勝群) (appointed with effect from March 14, 2017) REMUNERATION AND NOMINATION COMMITTEE Independent Non-Executive Directors TSANG, Hing Lun (曾慶麟) TSANG, Hing Lun (Chairman) LIU, Jianjun (劉健君) LIU, Jianjun WEI, Kevin Cheng (蔚成) WANG, Xiaobo JOINT COMPANY SECRETARIES HEADQUARTERS FAN, Yi (樊毅) 1272 Doris Road MOK, Ming Wai (莫明慧) (FCIS, FCS) Auburn Hills, Michigan 48326 United States of America AUTHORISED REPRESENTATIVES REGISTERED OFFICE FAN, Yi (樊毅) MOK, Ming Wai (莫明慧) (FCIS, FCS) P.O. Box 309, Ugland House Grand Cayman, KY1-1104 LEGAL ADVISERS Cayman Islands As to Hong Kong Law DLA Piper Hong Kong As to Cayman Islands Law Maples and Calder NEXTEER AUTOMOTIVE GROUP LIMITED ANNUAL REPORT 2016 05 Corporate Information PRINCIPAL PLACE OF BUSINESS IN PRINCIPAL BANKERS HONG KONG Wells Fargo Capital Finance 36/F, Tower Two Bank of China Times Square Shanghai Pudong Development Bank 1 Matheson Street China CITIC Bank Causeway Bay The Export-Import Bank of China Hong Kong PKO Bank Polski Bank Pekao SA China Construction Bank PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE STOCK CODES Maples Fund Services (Cayman) Limited Share Listing P.O. Box 1093, Boundary Hall Ordinary Shares Cricket Square The Stock Exchange of Hong Kong Limited Grand Cayman, KY1-1102 (Stock code: 1316) Cayman Islands Senior Notes Listing HONG KONG BRANCH SHARE US$250,000,000 5.875% REGISTRAR AND TRANSFER OFFICE Senior Notes due 2021 The Stock Exchange of Hong Kong Limited Computershare Hong Kong Investor Services Limited (Stock code: 5826) Shops 1712-1716 17th Floor COMPANY WEBSITE Hopewell Centre 183 Queen’s Road East http://www.nexteer.com/ Wanchai Hong Kong NEXTEER AUTOMOTIVE GROUP LIMITED ANNUAL REPORT 2016 06 Our Products e design, develop, manufacture and distribute steering and driveline systems and components, Wprimarily for OEMs. A steering system consists of the components required to provide lateral directional control of the vehicle. Our steering system product lines include EPS, hydraulic power steering as well as steering columns and intermediate shafts. A driveline system consists of the components required to transfer power from the transmission to the drive wheels. Our driveline system products include front wheel drive halfshafts, intermediateate ddriveriv shafts and rear wheel drive halfshafts as well as propeller shaft joints. ELECTRIC POWER STEERING Rack-assist EPS (REPS) integrates the required electric assist mechanism with the steering rack where they are EPS uses an electric motor to assist driver steering. Our contained under the hood in the engine compartment. hardware and software work together to connect the OEM customers that use our REPS include: Ford in the driver with the road, taking into account driving dynamics F-150 pickup truck; FCA in the Ram pickup truck; and and the operating environment. Depending on the type GM in various half-ton trucks and SUVs. We also supply of EPS system, a computer module applies assistive our REPS in performance vehicles, including the Ford power via an electric motor coupled directly to either the Mustang, Dodge Charger and Dodge Challenger. steering gear or the steering column. Single pinion-assist EPS (SPEPS) integrates the electric Column-assist EPS (CEPS) integrates system electronics assist mechanism with the steering gear pinion shaft. (motor, controller and sensor) and the assist mechanism OEM customers that use our SPEPS include: PSA in the with the steering column. OEM customers that use Citroen C3 and DS3; Dongfeng Peugeot Citroen in the our CEPS include: GM in various small cars, such as Citroen C-Elysee and the Peugeot 2008; and BMW in the Aveo; Shanghai GM in the Sonic and the Captiva the 1-series, the i3 and the Mini Cooper line. sport utility vehicle (SUV); and FCA in various small cars such as the Fiat 500. In China, we also offer an entry- level brush motor column-assist EPS (BEPS) specifically tailored for developing markets. OEM customers that use our BEPS include: SGMW for the Wuling Hongguang S minivan and the Bao Jun 560 SUV. NEXTEER AUTOMOTIVE GROUP LIMITED ANNUAL REPORT 2016 07 Our Products HYDRAULIC POWER STEERING (HPS) HPS uses high pressure fluids to assist driver steering. An engine-driven power steering pump creates system pressure. Pressurised fluid is then routed into a steering gear cylinder that turns the wheels of the vehicle. OEM customers that use our steering gears include: GM in its three-quarter ton trucks and large vans; and FCA in various light commercial vehicles. OEM customers that use our steering pumps include: FCA; GM; and PSA. In North America, we ramped up mass production of two new premium hydraulic based products; Magnasteer with Torque Overlay (MTO) and Smart Flow pump. These products bring advanced driver assistance functionality and reduced power consumption benefits. The MTO steering gear actuator targets three-quarter ton light trucks, medium and heavy duty trucks, semis and buses. The Smart Flow pump reduces parasitic loss on the engine to improve operating efficiency. MTO and Smart Flow are currently available exclusively on GM three-quarter ton trucks; the GMC Sierra; and the Chevrolet Silverado. We also introduced an MTO cartridge valve that enables integration with OEM’s current gear configurations. STEERING COLUMNS AND INTERMEDIATE SHAFTS (CIS) CIS connect the steering wheel to the steering mechanism, which control steering by transferring the driver’s input
Recommended publications
  • Annual Report 2013 Contents

    Annual Report 2013 Contents

    ANNUAL REPORT 2013 CONTENTS Corporate Profile 2 Corporate Information 3 Our Products 4 Business Overview 6 Financial Highlights 10 Chairman’s Statement 12 Management Discussion and Analysis 14 Directors and Senior Management 24 Directors’ Report 34 Corporate Governance Report 43 Independent Auditor’s Report 53 Consolidated Balance Sheet 55 Balance Sheet of the Company 57 Consolidated Income Statement 58 Consolidated Statement of Comprehensive Income 59 Consolidated Statement of Changes in Equity 60 Consolidated Statement of Cash Flows 61 Notes to the Consolidated Financial Statements 62 Four Years’ Financial Summary 124 2 NEXTEER AUTOMOTIVE GROUP LIMITED CORPORATE PROFILE Nexteer Automotive Group Limited (the Company) together with its subsidiaries (together with the Company collectively referred to as we, us, Nexteer or the Group) is a global leader in advanced steering and driveline systems. Nexteer’s in-house development and integration of hardware, software and electronics gives us a competitive advantage as a full service steering supplier. Nexteer draws upon a 100-year heritage of product development, manufacturing and vehicle integration expertise. We have a strong foundation and a reputation for providing dependable steering and driveline solutions and enduring customer relationships. Nexteer provides real-world, vehicle-level thinking that is always ahead of the curve. • Customer Focused: Respected and trusted for delivering on promises • Innovative: Market leader in steering and driveline innovation • Agile: Respond quickly with high-quality, cost-effective solutions • Expert: Know and understand customer requirements • Experienced: Provide demonstrated high performance, custom engineered systems for every application • Global: Committed to exceeding customer and vehicle needs every time, everywhere With more than fifty (50) customers in every major region of the world, Nexteer has twenty (20) manufacturing plants, five (5) regional engineering centers, nine (9) customer service centers strategically located in North and South America, Europe and Asia.
  • 2013 Prospectus

    2013 Prospectus

    Nexteer Automotive Group Limited 耐世特汽車系統集團有限公司 (Incorporated under the laws of the Cayman Islands with limited liability) (Stock Code : 01316) Joint Global Coordinators, Joint Bookrunners and Joint Sponsors Financial Advisor >cfYXc F]]\i`e^ IMPORTANT: If you are in any doubt about any of the contents of this Prospectus, you should seek independent professional advice. Nexteer Automotive Group Limited 耐世特汽車系統集團有限公司 (Incorporated under the laws of the Cayman Islands with limited liability) GLOBAL OFFERING Number of Offer Shares in the Global Offering : 720,000,000 Shares (subject to the Over-allotment Option) Number of Hong Kong Offer Shares : 72,000,000 Shares (subject to adjustment) Number of International Offer Shares : 648,000,000 Shares (subject to adjustment and the Over-allotment Option) Maximum Offer Price : HK$3.57 per Hong Kong Offer Share, plus brokerage of 1%, SFC transaction levy of 0.003%, and Hong Kong Stock Exchange trading fee of 0.005% (payable in full on application in Hong Kong dollars and subject to refund) Nominal value : HK$0.10 per Share Stock code : 01316 Joint Global Coordinators, Joint Bookrunners and Joint Sponsors Financial Advisor Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and Hong Kong Securities Clearing Company Limited take no responsibility for the contents of this Prospectus, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Prospectus. A copy of this Prospectus, having attached thereto the documents specified in “Appendix VI — Documents Delivered to the Registrar of Companies and Available for Inspection,” has been registered by the Registrar of Companies in Hong Kong as required by Section 342C of the Companies Ordinance (Chapter 32 of the Laws of Hong Kong).
  • 2020 Interim Report

    2020 Interim Report

    Contents Corporate Profile 2 Corporate Information 3 Business Overview 4 Financial Highlights 16 Management Discussion and Analysis 17 Corporate Governance/Other Information 28 Report on Review of Interim Financial Information 33 Condensed Consolidated Interim Balance Sheet 34 Condensed Consolidated Interim Income Statement 36 Condensed Consolidated Interim Statement of Comprehensive Income 37 Condensed Consolidated Interim Statement of Changes in Equity 38 Condensed Consolidated Interim Statement of Cash Flows 39 Notes to the Condensed Consolidated Interim Financial Information 40 02 NEXTEER AUTOMOTIVE GROUP LIMITED INTERIM REPORT 2020 Corporate Profile CORPORATE PROFILE Nexteer Automotive Group Limited (the Company) together with its subsidiaries are collectively referred to as we, us, our, Nexteer, Nexteer Automotive or the Group. Nexteer Automotive is a global leader in advanced steering and driveline systems, as well as advanced driver assistance systems (ADAS) and automated driving (AD) enabling technologies. In-house development and full integration of hardware, software and electronics provides Nexteer a competitive advantage as a full-service supplier to automotive original equipment manufacturers (OEM) around the world. As a leader in intuitive motion control, our continued focus and drive is to leverage our design, development and manufacturing strengths in advanced steering and driveline systems that provide differentiated and value-added solutions to our customers. We develop solutions that enable a new era of safety and performance for all levels of ADAS/AD, as well as supporting all modes of vehicle propulsion be it traditional internal combustion, hybrid or pure electric systems. Overall, we are making driving safer, more fuel-efficient and fun for today’s world and an increasingly electrified and automated future.
  • 2019 Annual Results Announcement

    2019 Annual Results Announcement

    2019 Annual Results Announcement 30 March 2020 Copyright 2020, Nexteer Automotive Corporation. All rights reserved. 1 Safe Harbor Statement These materials have been prepared by Nexteer Automotive Group Limited (“Nexteer” or the “Company”) and are being furnished to you solely for informational purposes. The information contained in these materials has not been independently verified. NO REPRESENTATION OR WARRANTY EXPRESS OR IMPLIED IS MADE AS TO, AND NO RELIANCE SHOULD BE PLACED ON, THE FAIRNESS, ACCURACY, COMPLETENESS OR CORRECTNESS OF THE INFORMATION OR OPINIONS CONTAINED HEREIN. It is not the intention to provide, and you may not rely on these materials as providing, a complete or comprehensive analysis of the Company’s financial or trading position or prospects. Neither Nexteer nor any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss that may arise from any use of this presentation or its contents or otherwise arising in connection with this presentation. Certain statements contained in these materials constitute forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, which may cause the actual results, performance or achievements of the Company to be materially different from those expressed by, or implied by the forward-looking statements in these materials. The Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Many factors may cause the actual development to be materially different from the expectations expressed here. Such factors include, for example and without limitation, changes in general economic and business conditions, fluctuations in currency exchange rates or interest rates, the introduction of competing products, the lack of acceptance for new products or services and changes in business strategy.
  • ANNUAL REPORT 2017 Hkex Stock Code : 305 ANNUAL REPORT 2017 CORPORATE PROFILE

    ANNUAL REPORT 2017 Hkex Stock Code : 305 ANNUAL REPORT 2017 CORPORATE PROFILE

    WULING MOTORS HOLDINGS LIMITED 五菱汽車集團控股有限公司 (Incorporated in Bermuda with limited liability) ENTERING THE ERA OF HIGH PERFORMANCE WITH CLEAN ENERGY ANNUAL REPORT 2017 HKEx Stock Code : 305 ANNUAL REPORT 2017 CORPORATE PROFILE Wuling Motors Holdings Limited (“Wuling Motors Holdings” or the “Company”) and its subsidiaries (collectively referred to as the “Wuling Group” or the “Group”) are principally engaged in the businesses of trading and manufacturing of automotive components, engines and specialized vehicles. Our Group’s corporate goal is to grasp the tremendous business opportunities arising from the rapidly growing automobile industry in China and Asia. We supply engines and automotive components to commercial-type mini-vehicles and passenger vehicles. We are also a qualified enterprise for manufacturing electrical mini-truck in China. The Group’s main production facilities are located in Liuzhou, Qingdao, Chongqing and Indonesia. Since 2011, we have been ranked as one of the Fortune China 500 Enterprises. GROUP STRUCTURE DRAGON HILL GUANGXI AUTOMOBILE 13.7% WULING MOTORS 60.6% HOLDINGS HKEx:305 60.9% 39.1% WULING INDUSTRIAL ENGINES AND AUTOMOTIVE SPECIALIZED RELATED PARTS COMPONENTS VEHICLES AND (INCLUDING NEW OTHER INDUSTRIAL ENERGY VEHICLES) SERVICES Wuling Motors Holdings Limited > Annual Report 2017 CONTENTS Corporate Profi le Group Structure 2 Chairman’s Statement 10 Report of the CEO 14 Operation Review Main Business Segments Engines and Automotive Specialized Related Parts Components Vehicles and Other (including Industrial
  • Workers' Compensation Payer List (PDF)

    Workers' Compensation Payer List (PDF)

    WORKERS' COMPENSATION / AUTO PAYER LIST 09/10/2021 All WORK * Provider must be contracted with Carisk Payer ID TX MN CA IL LA NJ NY OR WI NC NM OK TN VA States 837P 837I COMP AUTO 835 *Carisk Imaging to Allstate Insurance - Auto Only E1069 x x x x Rejects Only *Carisk Imaging to Geico (Auto Only) GEICO x x x x Rejects Only *Carisk Imaging to Nationwide (Auto Only) A0002 x x x x Rejects Only *Carisk Imaging to New York City Law Department NYCL001 x x x x Rejects Only *Carisk Imaging to NJ-PLIGA E3926 x x x x Rejects Only *Carisk Imaging to North Dakota WSI NDWSI x x x x *Carisk Imaging to NYSIF NYSIF1510 x x x x Rejects Only *Carisk Imaging to Progressive Insurance (Auto Only) E1139 x x x x Rejects Only *Carisk Imaging to Pure (Auto Only) PURE01 x x x x Rejects Only *Carisk Imaging to Safeco Insurance (Auto Only) E0602 x x x x Rejects Only *Carisk Imaging to SafeTPA, LLC (NY Only) SAFE01 x x x x Rejects Only *Carisk Imaging to Selective Insurance (Auto Only) E1077 x x x x Rejects Only *Carisk Imaging to USAA (Auto Only) A0001 x x x x Rejects Only 1st Auto & Casualty J1585 x x x x x 21st Century Insurance 41556 x x x x Rejects Only 22125 Roscoe Corp. 41556 x x x x Rejects Only AAA Minnesota/Iowa 11983 x x x x x AAA Northern California, Nevada & Utah Insurance Exchange 41556 x x x x Rejects Only ABC Const.
  • Table of Contents

    Table of Contents

    Vol. 30, No. 6 July/August 2017 Table of Contents Essential to Autonomous Vehicle Development, 2 Simulation Isn’t Close to Being Ready More Supplier Disruption Coming 6 Zoox Self-Driving Startup to Design, Build, Operate Its 8 Own Urban Taxi Service The Company Profile: Nexteer 11 Movimento Details OTA Update Types 20 The Hansen Report on Automotive Electronics, July/August 2016 www.hansenreport.com© 2017 Paul Hansen Associates, 150 Pinehurst Road, Portsmouth, NH 03801 USA Telephone: 603-431-5859; fax: 603-431-5791; email: [email protected] All rights reserved. Materials may not be reproduced in any form without written permission. ISSN 1046-1105 2 Essential to Autonomous Vehicle Development, Simulation Isn’t Close to Being Ready Despite more than one million road fatalities globally each year, human drivers perform exceedingly well, especially in the United States, where there were just 1.13 fatalities per hundred million miles traveled in 2015. While it has become a widely held belief that autonomous vehicles will soon be safer than vehicles driven by humans, proving that point will not be at all easy. Indeed, an automated vehicle under test would have to drive several hundred million miles on real roads to verify that it is at least as safe as a human-driven vehicle. But that is not a real- world option. One possible remedy is to use simulators to “drive” virtual vehicles millions of miles in virtual worlds, such that a sufficient number of exceptional, accident- causing edge cases can be found and addressed in a fraction of the time real world testing would take.
  • Potential Industry Partners

    Potential Industry Partners

    The UM Mobility Transformation Center Peter Sweatman Huei Peng John Maddox Carrie Morton Director Associate Director Assistant Director Managing Director November 10, 2015 The MTC A public/private R&D partnership that will lead a revolution in mobility and develop the foundations for a commercially viable ecosystem of connected and automated vehicles Leadership Circle Members With Support From MTC AFFILIATES . Auto Club Enterprises, an AAA affiliate . MOBIS . AGC Automotive . Munich Re . Allstate Insurance Co. New Eagle Consulting . Arada Systems, Inc. Nexteer Automotive . Autoliv . OSIsoft, LLC . Brandmotion LLC . PTC, Inc. Calspan Corporation . Realtime Technologies, Inc. Changan Automobile . Renesas Electronics America Inc. Cohda Wireless . Savari Inc. Desjardins General Insurance Group, Inc. Subaru . DURA Automotive Systems . Sumitomo Electric Industries, Ltd. Faurecia . Suncorp Group . Freescale Semiconductor, Inc. TASS International, Inc. Harada Industry of America, Inc. TRW Automotive . Harman International Industries . Zip Car . HERE, a Nokia company . Hitachi, Ltd. IAV . IDIADA . LG Electronics . Mechanical Simulation Corporation . Miller, Canfield, Paddock and Stone, PLC The Three Living Laboratories of MTC Will Collect Data 1. Connected Ann Arbor (2014+) – 9,000 equipped vehicles (~1600 currently) – 60 intersections (19 currently) 2. Connected Southeast Michigan (2015+) – 20,000 equipped vehicles – 500 equipped nodes, including highways and intersections – 5000 devices including nomadic seed devices, extending to vulnerable road users including pedestrians 3. Automated Ann Arbor (2016+) – 2,000 connected and automated vehicles UMTRI Data Collected (2013- ) . From more than 2,800 vehicles and 19 RSE (road- side equipment) units . Data > 70 TB . Trips > 5.0 Million . Distance > 35 Million Miles . Time > 1.2 Million Hours . BSMs > 101.4 Billion records What Can We Learn From the Data .
  • Annual Report 2019

    Annual Report 2019

    Contents Corporate Profile 2 Corporate Information 4 Our Products 6 Business Overview 13 Financial Highlights 32 CEO’s Statement 33 Management Discussion and Analysis 36 Directors and Senior Management 48 Directors’ Report 56 Corporate Governance Report 74 Independent Auditor’s Report 86 Consolidated Balance Sheet 92 Consolidated Income Statement 94 Consolidated Statement of Comprehensive Income 95 Consolidated Statement of Changes in Equity 96 Consolidated Statement of Cash Flows 97 Notes to the Consolidated Financial Statements 98 Five Years’ Financial Summary 168 02 NEXTEER AUTOMOTIVE GROUP LIMITED ANNUAL REPORT 2019 Corporate Profile Nexteer Automotive Group Limited (the Company) together with its subsidiaries are collectively referred to as we, us, our, Nexteer, Nexteer Automotive or the Group. Nexteer Automotive is a global leader in advanced steering and driveline systems, as well as advanced driver assistance systems (ADAS) and automated driving (AD) enabling technologies. In-house development and full integration of hardware, software and electronics give Nexteer a competitive advantage as a full-service supplier. As a leader in intuitive motion control, our continued focus and drive is to leverage our design, development and manufacturing strengths in advanced steering and driveline systems that provide differentiated and value-added solutions to our customers. We develop solutions that enable a new era of safety and performance for traditional and varying levels of ADAS/AD. Overall, we are making driving safer, more fuel-efficient and fun for today’s world and an automated future. Our ability to seamlessly integrate our systems into automotive original equipment manufacturers’ (OEM) vehicles is a testament to our more than 110-year heritage of vehicle integration expertise and product craftsmanship.
  • QYT AUTO PARTS CO., LTD Email: Info@Qytauto.Com ; Inquiry@Qytauto.Com Whatsapp: +86 13634216230 QYT No

    QYT AUTO PARTS CO., LTD Email: [email protected] ; [email protected] Whatsapp: +86 13634216230 QYT No

    QYT AUTO PARTS CO., LTD Email: [email protected] ; [email protected] WhatsApp: +86 13634216230 QYT no. Description Corss Ref. Application TOYOTA;LEXUS (SO0001‐SO0300) TOYOTA CAMRY ACV40 06‐12; SO0001 Steering Tie rod ends 45470‐09090 LEXUS LEXUS ES350/ES240 07‐ TOYOTA CAMRY ACV40 06‐12; SO0002 Steering Tie rod ends 45460‐09140 LEXUS LEXUS ES350/ES240 07‐ TOYOTA CAMRY SO0003 Steering Tie rod ends 45460‐09160 ACV50(2012‐) TOYOTA CAMRY SO0004 Steering Tie rod ends 45460‐09250 ACV50(2012‐) GEELY PANDA,HAIJING,GEELY YUANJING, YUANJING 18‐, SO0005 Steering Tie rod ends 45047‐49045 YUANJINGX3,GEELY EMGRAND EC7,GEELY ENGLON ,BINRUI;BYD F0,BYD F3/F3R/G3/G3R/L3;TOYOTA COROLLA;LIFAN LIFAN 620;JAC YUEYUE GEELY PANDA,HAIJING,GEELY YUANJING, YUANJING 18‐, SO0006 Steering Tie rod ends 45046‐49115 YUANJINGX3,GEELY EMGRAND EC7,GEELY ENGLON ,BINRUI;BYD F0,BYD F3/F3R/G3/G3R/L3;TOYOTA COROLLA;LIFAN LIFAN 620;JAC YUEYUE CHANGAN RAETON;TOYOTA CAMRY2.4/3.0 (03),PREVIA ACR30 (34M); SO0007 Steering Tie rod ends 45460‐39615 LEXUS ES300/MCV30 01‐06 CHANGAN RAETON;TOYOTA CAMRY2.4/3.0 (03),PREVIA ACR30 (34M); SO0008 Steering Tie rod ends 45470‐39215 LEXUS ES300/MCV30 01‐06 BYD SURUI,SONG MAX;ZOTYE Z300; SO0009 Steering Tie rod ends 45046‐09590 TOYOTA COROLLA 07‐/VERSO 11‐/LEVIN 14‐ BYD SURUI ,SONG MAX;ZOTYE Z300; SO0010 Steering Tie rod ends 45047‐09590 TOYOTA COROLLA 07‐/VERSO 11‐/LEVIN 14‐ SO0011 Steering Tie rod ends 45464‐30060 TOYOTA REIZ/CROWN;LEXUS LEXUS IS250/300 06‐,GS300/350/430 05‐ SO0012 Steering Tie rod ends 45463‐30130 TOYOTA REIZ/CROWN;LEXUS LEXUS
  • B $0.77 GM Reports Income of $1.1 Billion and EBIT- Adjusted of $2.6

    B $0.77 GM Reports Income of $1.1 Billion and EBIT- Adjusted of $2.6

    FIRST-QUARTER 2018 EARNINGS GM Reports Income of $1.1 Billion and EBIT- adjusted of $2.6 Billion • Income from continuing operations impacted by $0.9 billion pre-tax charge related to Korea restructuring • EBIT-adj. reflects full-size truck launch-related downtime. The all-new truck launch is on plan • GM North America EBIT-adj. margin of 8.0%; on track to sustain 10-percent-full-year margin Q1 2018 RESULTS OVERVIEW FROM CONTINUING OPERATIONS Auto Operating Cash Net Revenue Income EPS-Diluted Flow GAAP $36.1 B $1.1 B $(1.2) B $0.77 Vs. Q1 2017 (3.1) % (58.7) % $(2.3) B (56.0) % EBIT-adj. Margin EBIT-adj. Adj. Auto FCF EPS Diluted-adj. Non-GAAP 7.2% $2.6 B $(3.5) B $1.43 Vs. Q1 2017 (2.3) pts (26.6) % $(2.8) B (18.3)% Results this quarter were in line with our expectations with planned, lower production in North America related to the transition to our all-new Chevrolet Silverado and GMC Sierra. We are on plan to deliver another strong year in 2018.” “ – Mary Barra, Chairman and CEO PRODUCT MOMENTUM ADJUSTED AUTOMOTIVE FREE CASH FLOW Deliveries of GM’s newest crossovers in the U.S. and As expected, first-quarter free cash flow was China doubled in the first quarter year over year, led by meaningfully below the first quarter of 2017 primarily the GMC Terrain, the Chevrolet Traverse and Equinox due to planned, lower full-size truck production, and and the all-new Baojun 510 and 530.
  • 2018 Annual Report and Highlight a Few of the Year’S Increase Product Exposure with Current Customers

    2018 Annual Report and Highlight a Few of the Year’S Increase Product Exposure with Current Customers

    Contents Corporate Profile 2 Corporate Information 4 Our Products 7 Business Overview 14 Financial Highlights 27 CEO’s Statement 28 Management Discussion and Analysis 30 Directors and Senior Management 40 Directors’ Report 48 Corporate Governance Report 66 Independent Auditor’s Report 78 Consolidated Balance Sheet 84 Consolidated Income Statement 86 Consolidated Statement of Comprehensive Income 87 Consolidated Statement of Changes in Equity 88 Consolidated Statement of Cash Flows 89 Notes to the Consolidated Financial Statements 90 Five Years’ Financial Summary 156 02 NEXTEER AUTOMOTIVE GROUP LIMITED ANNUAL REPORT 2018 Corporate Profile Nexteer Automotive Group Limited (the Company) together with its subsidiaries are collectively referred to as we, us, our, Nexteer, Nexteer Automotive or the Group. Nexteer Automotive is a global leader in advanced steering and driveline systems, advanced driver assistance systems (ADAS) and autonomous driving (AD) enabling technologies. In-house development and full integration of hardware, software and electronics give Nexteer a competitive advantage as a full-service supplier. As a leader in intuitive motion control, our continued focus and drive is to leverage strengths in advanced steering and driveline systems that provide value-added solutions to our customers. We maintain product focus on electric power steering (EPS) systems – a socially responsible technology that offers automakers increased fuel economy and reduced emissions. As just one example, Nexteer Automotive has put more than 60 million EPS units on the road since 1999, saving enough fuel to fill the equivalent of 48 billion 16-oz. water bottles. Our ability to seamlessly integrate our systems into automotive original equipment manufacturers’ (OEM) vehicles is a testament to our more than 110-year heritage of vehicle integration expertise and product craftsmanship.