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Jun. 2016 Copyright 2015 SNE Research Co., Ltd Jun. 2016 Copyright 2015 SNE Research Co., Ltd. All rights reserved No material contained in this report may be reproduced in whole or in part without the express written permission of SNE Research Co., Ltd. This report is intended for the sole and exclusive use of the original purchaser and may not be distributed or transferred in any form to any other person or entity. SNE Research Co., Ltd. provides the information in this report for informational purposes only and does not grant any express or implied warranty, guaranty, or representation concerning the information contained in this report, its merchantability, or its fitness for a particular purpose or function. Any reference to any specific commercial product, process, or service by trade name, trademark, manufacturer, or otherwise, does not necessarily constitute or imply its endorsement, recommendation, or favoring by SNE Research Co., Ltd. Neither SNE Research nor any of its affiliates shall be liable to you or any third party in damages of whatever kind that may result from any reliance on (or use of) any information contained in this report. By receiving this report, you acknowledge that any reliance on information contained in this report shall be at your sole risk and that no representations have been made to you that are inconsistent with the foregoing. Copyright(c) SNE Research. All Rights Reserved. 2 CONTENTS 1. Company Introduction 2. Finance 3. Technology 4. Production 5. Existing Projects Copyright(c) SNE Research. All Rights Reserved. 3 CONTENTS 1. Company Introduction 1.1 Company History 1.2 Company Profile 1.3 Organization 1.4 BYD Management Team 1.5 Key Employee List & Contacts 2. Finance 3. Technology 4. Production 5. Existing Projects Copyright(c) SNE Research. All Rights Reserved. 4 1.1 Company History In 1995, established in Shenzhen with only 20 staff 0.3 MUSD investment. In 1998, became the first Chinese Li-ion battery supplier of Motorola. In 1999, set up its first industrial park in Shenzhen, China. In 2002, became the first Chinese Li-ion battery supplier of Nokia. In 2002, BYD Co., Ltd. was listed on the HongKong Exchange (1211.HK). In 2003, started automotive business by M&A Qinchuan Auto (270 MRMB for 77% stock share). In 2005, first car F3 launched and started the BYD legend. In 2007, BYD Electronics (International) Co., Ltd. was listed on the HongKong Exchange (00285.HK). In 2008, Warren Buffett acquired 10% stake in BYD. In 2008, launched first NEV, which is F3DM. In 2010, BYD and Daimler set up a JV to develop NEV in China. In 2011, BYD Co., Ltd. was listed on the Shenzhen Stock Exchange (002594.SZ). In 2013, opened its North American E-BUS and Iron-Phosphate battery plant. Copyright(c) SNE Research. All Rights Reserved. 5 1.2 Company Profile Award Copyright(c) SNE Research. All Rights Reserved. 6 1.2 Company Profile Robust Growth Record BYD had sustained growth in its company history. Since 2010, BYD was facing the traditional business downturn. In 2015, BYD has significantly increase due to NEV business. 12,349 9,047 8,596 7,800 7,650 7,100 6,000 4,000 3,105 2,000 952 967 586 337 0 7 13 31 62 127 190 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Revenue (MUSD) Copyright(c) SNE Research. All Rights Reserved. 7 1.2 Company Profile Employee Number BYD is already a huge company with 180,000 employees, so it started to control the employee number since 2010, due to the weakness of economic. 180,000 180,000 180,000 180,000 180,000 180,000 150,000 130,000 120,000 100,000 55,000 36,000 26,000 20,000 13,00015,000 4,000 7,000 20 200 800 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Employee Number Copyright(c) SNE Research. All Rights Reserved. 8 1.2 Company Profile Site Locations Copyright(c) SNE Research. All Rights Reserved. 9 1.2 Company Profile Site Locations Copyright(c) SNE Research. All Rights Reserved. 10 1.3 Organization Board Supervisor Secretary of the Board President President Office IT Automotive New Energy Central BD1 BD6 BD11 BD16 HR R&D Center Finance Automotive BD2 BD7 BD12 BD17 R&D Center Marketing Electronic BD3 BD8 BD13 BD18 R&D Center Logistic IP BD4 BD9 BD14 BD19 BD5 BD15 This report will mostly focus on BYD battery business, which is the Business Division 2 in BYD Group. Copyright(c) SNE Research. All Rights Reserved. 11 1.3 Organization Business Division Description Business Established Responsibility General Manager Division Year BD1 Ni-battery, Charger, FPC, Cables, Earphone, Metal surface decoration 1994 Wang Nianqiang BD2 Li-Battery, Fe-Battery, Materials, UPS, Power system, Solar products 1998 He Long BD3 Plastic surface decoration, Keypad/Mouse, Molding, Lens, Metal, Components 2002 BD4 LCD/LCM (CSTN/TFT), Touch panel, Backlight, Die cutting 2001 BD5 ODM R&D, JDM R&D (TD-SCDMA, CDMA, WCDMA, GSM) 2007 BD6 Power MOSFET CMOS, IC, LED driver, DC/DC, LDO, PMU 2005 BD7 LED, Camera, Lens, Intelligent security product 2003 BD8 Laptop, Bluetooth handset, Mobile power 2009 BD9 EMS, PCBA 2006 BD11 Pressing, Welding, Painting, Assembly, Oil tank 2003 BD12 Tooling factory 2003 BD13 Exterior, Interior, Light 2005 Lian Yubo BD14 NEV key components 2008 Luo Hongbin BD15 Car electronics, Body electronics, Safety electronics 2003 Zou Caisong BD16 Chassis, Seat 2004 BD17 Engine, Transmission 2004 Zhang Jintao BD18 Rubber, Plastic, Paint 2008 BD19 Bus 2009 This report will mostly focus on BYD battery business, which is the Division 2 in BYD Group. Copyright(c) SNE Research. All Rights Reserved. 12 1.3 Organization BD2 SVB BD2 SVB (Shen Xi) ① Total 3,000 employee until the end of 2015 Manufacturing Engineering Planning Purchase Operation R&D QMT HR Design 1 Design 2 Pack Design Test BD2 SVB is the plant for battery design and production. Copyright(c) SNE Research. All Rights Reserved. 13 1.4 BYD Management Team CEO Resume Wang Chuanfu (王传福) Born on Feb 15th, 1966 Hometown is Wuhu, Anhui 1983~1987, bachelor at Metallurgical Physical Chemistry in Central South University. 1987~1990, master at General Research Institute for Nonferrous Metals 1990~1995, work in General Research Institute for Nonferrous Metals 1993~1995, CEO of Bige Battery (sub company of General Research Institute for Nonferrous Metals) 1995~now, Chairman of BYD Ranking No. 1 for wealth in China in 2009 Has 5 elder sisters, 1 elder brother and 1 younger sister Father was dead when he was 13 years old and mother was dead when he was15 years old Copyright(c) SNE Research. All Rights Reserved. 14 1.4 BYD Management Team Key Person Resume Lv Xiangyang (吕向阳) Born on 1962 Hometown is Anhui 1978~1993, work in Bank of China Anhui Branch Company 1993~now, Chairman of Youngy Investment 1993~now, board member of BYD Lv Xiangyang is Wang Chuanfu’s elder cousin. When he worked in Bank of China, he provided a loan to Wang Chuanfu for establishing BYD without permission. Later he was fired and worked for BYD as board member. Copyright(c) SNE Research. All Rights Reserved. 15 1.4 BYD Management Team Board Members Name Position Resume Wang Chuanfu Chairman See Page 12 Lv Xiangyang Director See Page 13 Born in 1963, Bachelor from USTB, MBA from Peking Xia Zuoquan Director University. Worked in PICC before join BYD. Join BYD in 1997. Born in 1958, Bachelor from BIT. Current work as Dean in National Battery Test Center. He is very Wang Zidong Independent Director famous in China battery industry and his test center issues certification for battery used in NEV. Born in 1977, Bachelor and Master from BJTU, PHD from Leeds School of Business, University of Zhang Ran Independent Director Colorado at Boulder. Currently Assistant Professor in Peking University. Born in 1973, Master and PHD from University of Zou Fei Independent Director Texas. Currently Chairman of SYN Capital. Copyright(c) SNE Research. All Rights Reserved. 16 1.4 BYD Management Team Supervisor Members Name Position Resume Born in 1934, Bachelor from Moscow Academy of Dong Junqing Supervisor Board Chairman Nonferrous Metals and Gold. Used to be professor at China Northeastern University. Born in 1980, Bachelor from ZUEL. Worked in Huang Jiangfeng Supervisor Sinopec and Guosen Securities. Currently board member of Youngy Investment. Born in 1961, Bachelor from XATU. Currently Li Yongzhao Supervisor Chairman of Qinchuan Group. (BYD M&A Qinchuan Motors to start automotive business in 2003) Born in 1977, Bachelor from BAUU, Joined BYD in Yan Chen Employee Supervisor 2000. Currently General Manager of BYD Automotive Business. Born in 1976, Bachelor from GDUFS. Joined BYD in Wang Zhen Employee Supervisor 1998. Currently Director of the president office. Copyright(c) SNE Research. All Rights Reserved. 17 1.4 BYD Management Team Key Management Members Name Position Resume Wang Chuanfu Chairman & CEO See Page 12 Born in 1973, Bachelor from JXUFE, EMBA from Li Qian Secretary of the Board Peking University. Worked in PWC and ZTE before. Joined BYD in 2005. Born in 1963. Bachelor from AHNU, MBA from Wu Jingsheng CFO Peking University, Got CPA in 1995. Worked in Youngy Investment before. Joined BYD in 1995. Vice President Born in 1964, Bachelor and Master from NUAA. Lian Yubo Automotive Chief Engineer Worked in CATARC and TJ Innovation before. Join General Manager of BD13 BYD in 2004. Vice President Born in 1972, Bachelor and Master from Peking He Long General Manager of BD2 University.
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