DOCSLIB.ORG

China Motor Corporation and Subsidiaries

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

China Motor Corporation and Subsidiaries Consolidated Financial Statements for the Nine Months Ended September 30, 2019 and 2018 and Independent Auditors’ Review Report INDEPENDENT AUDITORS’ REVIEW REPORT The Board of Directors and the Shareholders China Motor Corporation Introduction We have reviewed the accompanying consolidated balance sheets of China Motor Corporation and its subsidiaries (collectively, the “Group”) as of September 30, 2019 and 2018, the related consolidated statements of comprehensive income for the three months ended September 30, 2019 and 2018 and for the nine months ended September 30, 2019 and 2018, the consolidated statements of changes in equity and cash flows for the nine months then ended and the related notes to the consolidated financial statements, including a summary of significant accounting policies (collectively referred to as the “consolidated financial statements”). Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standard 34 “Interim Financial Reporting” endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China. Our responsibility is to express a conclusion on the consolidated financial statements based on our reviews. Scope of Review Except as explained in the following paragraph, we conducted our reviews in accordance with Statement of Auditing Standards No. 65 “Review of Financial Information Performed by the Independent Auditor of the Entity”. A review of consolidated financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Basis for Qualified Conclusion The financial statements of some non-significant subsidiaries included in the consolidated financial statements were not reviewed. As of September 30, 2019 and 2018, the combined total assets of these non-significant subsidiaries were NT$11,980,280 thousand and NT$12,621,724 thousand, respectively, both representing 19% and 20% of the consolidated total assets, and the combined total liabilities of these non-significant subsidiaries were NT$3,828,737 thousand and NT$3,115,382 thousand, respectively, representing 23% and 39%, respectively, of the consolidated total liabilities; for the three months ended September 30, 2019 and 2018 and for the nine months ended September 30, 2019 and 2018, the amounts of combined comprehensive income (loss) of these non-significant subsidiaries were NT$(212,566) thousand and NT$49,106 thousand, NT$(433,944) thousand and NT$136,102 thousand, respectively, representing 240% and 11%, 106% and 5%, respectively, of the consolidated total comprehensive income. As disclosed in Note 16 to the consolidated financial statements, as of September 30, 2019 and 2018, some investments accounted for using the equity method were NT$15,899,464 thousand and NT$17,510,280 thousand, respectively, and for the three months ended September 30, 2019 and 2018 and for the - 1 - nine months ended September 30, 2019 and 2018, total comprehensive income of these equity-method investments were NT$174,804 thousand and NT$45,825 thousand, NT$1,021,230 thousand and NT$1,056,810 thousand, respectively, which were calculated on the basis of financial statements that have not been reviewed. Qualified Conclusion Based on our reviews, except for the adjustments, if any, as might have been determined to be necessary had the financial statements of the aforementioned non-significant subsidiaries, the investments accounted for using the equity method and the relevant information disclosed been reviewed, nothing has come to our attention that caused us to believe that the accompanying consolidated financial statements do not present fairly, in all material respects, the consolidated financial position of the Group as of September 30, 2019 and 2018, its consolidated financial performance for the three months ended September 30, 2019 and 2018, and its consolidated financial performance and its consolidated cash flows for the nine months ended September 30, 2019 and 2018 in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers and International Accounting Standard 34 “Interim Financial Reporting” endorsed and issued into effect by the Financial Supervisory Commission of the Republic of China. The engagement partners on the reviews resulting in this independent auditors’ review report are Chih-Ming Shao and Ya-Ling Wong. Deloitte & Touche Taipei, Taiwan Republic of China November 13, 2019 Notice to Readers The accompanying consolidated financial statements are intended only to present the consolidated financial position, financial performance and cash flows in accordance with accounting principles and practices generally accepted in the Republic of China and not those of any other jurisdictions. The standards, procedures and practices to review such consolidated financial statements are those generally applied in the Republic of China. For the convenience of readers, the independent auditors’ review report and the accompanying consolidated financial statements have been translated into English from the original Chinese version prepared and used in the Republic of China. If there is any conflict between the English version and the original Chinese version or any difference in the interpretation of the two versions, the Chinese-language independent auditors’ review report and consolidated financial statements shall prevail. - 2 - CHINA MOTOR CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In Thousands of New Taiwan Dollars) September 30, 2019 December 31, 2018 September 30, 2018 (Reviewed) (Audited) (Reviewed) ASSETS Amount % Amount % Amount % CURRENT ASSETS Cash and cash equivalents (Note 6) $ 13,612,051 22 $ 14,429,460 23 $ 13,549,632 21 Financial assets at fair value through profit or loss (Note 7) 654,069 1 567,643 1 692,748 1 Financial assets at amortized cost (Notes 9 and 10) 367,305 1 104,359 - 301,467 - Financial assets for hedging (Note 11) 279,314 - 743,303 1 432,681 1 Notes and accounts receivable, net (Note 12) 1,077,258 2 1,177,454 2 1,295,062 2 Trade receivables from related parties (Note 30) 1,922,514 3 1,952,469 3 1,763,067 3 Other receivables 420,679 1 98,749 - 525,593 1 Inventories (Note 13) 3,486,489 6 4,070,264 6 3,592,668 6 Prepayments (Note 30) 1,371,688 2 1,134,247 2 1,029,649 2 Non-current assets held for sale (Note 15) 148,023 - 148,023 - - - Other current assets (Note 31) 689,136 1 596,590 1 396,488 - Total current assets 24,028,526 39 25,022,561 39 23,579,055 37 NON-CURRENT ASSETS Financial assets at fair value through profit or loss (Note 7) 695,808 1 734,341 1 724,592 1 Financial assets at fair value through other comprehensive income (Note 8) 205,398 - 227,396 - 252,699 - Financial assets at amortized cost (Notes 9 and 10) 659,391 1 824,705 1 875,430 1 Investments accounted for using the equity method (Note 16) 26,766,817 43 29,106,774 45 28,938,721 46 Property, plant and equipment (Notes 17, 30 and 31) 6,714,146 11 6,388,147 10 6,337,148 10 Right-of-use assets (Notes 4 and 18) 474,695 1 - - - - Investment properties (Notes 19 and 31) 1,368,807 2 1,380,002 2 1,383,783 2 Intangible assets under development 345,682 1 304,163 1 282,402 1 Deferred tax assets (Note 26) 276,125 1 336,711 1 317,591 1 Other non-current assets 136,024 - 179,616 - 263,889 1 Total non-current assets 37,642,893 61 39,481,855 61 39,376,255 63 TOTAL $ 61,671,419 100 $ 64,504,416 100 $ 62,955,310 100 LIABILITIES AND EQUITY CURRENT LIABILITIES Short-term borrowings (Notes 20 and 31) $ 630,000 1 $ 645,000 1 $ 640,000 1 Short-term bills payable 59,963 - 93,972 - 167,887 - Notes and accounts payable 1,979,534 3 2,705,317 4 2,135,317 3 Trade payables to related parties (Note 30) 545,158 1 944,954 2 640,463 1 Other payables (Note 21) 10,826,735 18 2,717,065 4 2,786,881 5 Current tax liabilities (Notes 4 and 26) 317,708 - 117,081 - 156,406 - Lease liabilities (Notes 4 and 18) 95,425 - - - - - Other current liabilities (Notes 7, 11 and 30) 370,482 1 297,523 1 382,032 1 Total current liabilities 14,825,005 24 7,520,912 12 6,908,986 11 NON-CURRENT LIABILITIES Long-term borrowings (Note 20) 20,000 - - - - - Deferred tax liabilities (Note 26) 407,785 1 268,161 1 149,386 - Lease liabilities (Notes 4 and 18) 384,038 1 - - - - Net defined benefit liabilities (Notes 4 and 22) 694,471 1 910,328 1 875,369 2 Other non-current liabilities 24,167 - 30,926 - 11,968 - Total non-current liabilities 1,530,461 3 1,209,415 2 1,036,723 2 Total liabilities 16,355,466 27 8,730,327 14 7,945,709 13 EQUITY ATTRIBUTABLE TO OWNERS OF THE CORPORATION (Note 23) Ordinary shares 5,536,203 9 13,840,508 22 13,840,508 22 Capital surplus 6,391,520 10 6,403,633 10 6,413,249 10 Retained earnings Legal reserve 9,257,157 15 8,897,857 14 8,897,857 14 Special reserve 1,046,585 1 1,046,967 1 1,046,967 2 Unappropriated earnings 20,191,241 33 22,486,952 35 21,830,835 35 Total retained earnings 30,494,983 49 32,431,776 50 31,775,659 51 Other equity Exchange differences on translating the financial statements of foreign operations (831,511) (1) (646,278)
Recommended publications
  • 2016 Annual Report (Translation)

    2016 Annual Report (Translation)

    Stock Code 2204 China Motor Corporation 2016 Annual Report (Translation) Printed on March 31, 2017 Notice to Readers The Annual Report have been translated into English from the original Chinese version. If there is any conflict between the English version and the original Chinese version or any difference in the interpretation of the two versions, the Chinese version shall prevail. I. Information regarding Spokesperson, Deputy Spokesperson Spokesperson: Ching-Wu Chien Title: Vice President Deputy Spokesperson: Yu-Chun Su Title: General Manager, Corporate Planning Division, China Motor Corporation Tel: 886-3-4783191 Email: [email protected] II. Contact Information of Headquarter, Branch Company and Plant Headquarter Address: 11F., No.2, Sec. 2, Dunhua S. Rd., Da’an Dist., Taipei City 106, Taiwan Tel: 886-2-23250000 China Motor Training Center Address: No.3, Qingnian Rd., Yangmei Dist., Taoyuan City 326, Taiwan Tel: 886-3-4641100 Yang Mei Plant Address: No.618, Xiucai Rd., Yangmei Dist.,Taoyuan City 326, Taiwan Tel: 886-3-4783191 Hsin Chu Plant Address: No.2, Guangfu Rd., Hukou Township, Hsinchu County 303, Taiwan Tel: 886-3-5985841 III. Common Share Transfer Agent and Registrar Company: China Motor Corporation Address: 7F., No.150, Sec. 2, Nanjing E. Rd., Zhongshan Dist., Taipei City 104, Taiwan Tel: 886-2-25156421 Website: http:// www.china-motor.com.tw IV. Information regarding 2016 Auditors Company: Deloitte & Touche Auditors: Eddie Shao, Lilac Shue Address: 12F, 156, Sec. 3, Min-Sheng E. Rd., Taipei 105-96, Taiwan Tel: 886-2-25459988 Website: http://www.deloitte.com.tw V. Information regarding Depositary: N.A.
  • The International Journal of Business & Management

    The International Journal of Business & Management

    The International Journal Of Business & Management (ISSN 2321 – 8916) www.theijbm.com THE INTERNATIONAL JOURNAL OF BUSINESS & MANAGEMENT Why a Middle Income Country is Experiencing a Booming Auto Industrial Development: Evidence from China and its Meaning for the Developing World Bindzi Zogo Emmanuel Cedrick Ph.D Candidate, School of Economics Wuhan University of Technology, P.R. China, Hubei Province, Wuhan City, China Pr. Wei Long Professor, Wuhan University of Technology, P.R. China, Hubei Province, Wuhan City, China Abtract: From almost nothing in 1970 to the World largest manufacturer and automobile market in 2013, China has essentially focused its rapid economic progress on industrial development. This paper discusses the meaning of middle income to the developing world. It then determines the factors contributing to the growth of China auto industry. It also argues on how the fast growing of a middle income country’s auto industry could impact other developing economies. It therefore concludes that although the economic model established by China to develop its auto industry traces its basis in the diamond model’s determinants, the application of these determinants has followed a different approach backed up by a pentagram model which places the government as the primary actor in the fast transformation of China auto industry. Keywords: Middle income, growing auto industry, pentagram model, government role 1. Introduction During the last decades, the world has witnessed a faster economic development of Middle income countries. China, Brazil, India, Mexico, South Africa and more others have relatively ameliorate their industrial capabilities with positive spillovers to the rest of the world.
  • Daimler Annual Report 2014

    Daimler Annual Report 2014

    Annual Report 2014. Key Figures. Daimler Group 2014 2013 2012 14/13 Amounts in millions of euros % change Revenue 129,872 117,982 114,297 +10 1 Western Europe 43,722 41,123 39,377 +6 thereof Germany 20,449 20,227 19,722 +1 NAFTA 38,025 32,925 31,914 +15 thereof United States 33,310 28,597 27,233 +16 Asia 29,446 24,481 25,126 +20 thereof China 13,294 10,705 10,782 +24 Other markets 18,679 19,453 17,880 -4 Investment in property, plant and equipment 4,844 4,975 4,827 -3 Research and development expenditure 2 5,680 5,489 5,644 +3 thereof capitalized 1,148 1,284 1,465 -11 Free cash flow of the industrial business 5,479 4,842 1,452 +13 EBIT 3 10,752 10,815 8,820 -1 Value added 3 4,416 5,921 4,300 -25 Net profit 3 7,290 8,720 6,830 -16 Earnings per share (in €) 3 6.51 6.40 6.02 +2 Total dividend 2,621 2,407 2,349 +9 Dividend per share (in €) 2.45 2.25 2.20 +9 Employees (December 31) 279,972 274,616 275,087 +2 1 Adjusted for the effects of currency translation, revenue increased by 12%. 2 For the year 2013, the figures have been adjusted due to reclassifications within functional costs. 3 For the year 2012, the figures have been adjusted, primarily for effects arising from application of the amended version of IAS 19. Cover photo: Mercedes-Benz Future Truck 2025.
  • China Motor Corporation Investor Conference (Ticker Symbol ：2204)

    China Motor Corporation Investor Conference (Ticker Symbol ：2204)

    China Motor Corporation Investor Conference (ticker symbol ：2204) Aug. 19, 2020 0 Agenda 14:30 China Motor Corporation Investor Conference CMC Operating Results and Future Plan 8 Opinion Exchange 15:10 Presenter ：Cheng-Chang Huang Vice President 1 CMC Operating Results and Future Plan (ticker symbol ：2204) Safe Harbor Notice This presentation contains forward-looking statements concerning the financial condition, results of operations and businesses of China Motor Corporation (“CMC”). All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are subject to significant risks and uncertainties which may vary from time to time and actual results may differ materially from those contained in the forward-looking statements, whether as result of new information, future events, or otherwise. CMC, its subsidiaries and representatives do not undertake any obligation to the damages resulted from the use, with or without negligence, of this presentation or other information related with it, except as required by law. Any part of this presentation can not be, on any purpose, directly or indirectly replicated, spread, transmitted or published. 3 Outline Market Overview • Auto Market in Taiwan • Auto Market in China CMC’s Operating Results in the first half of 2020 CMC’s Prospect in 2020 4 Auto Market in Taiwan Estimated (Directorate-General of Budget, Accounting and Statistics) (Taiwna Institute of (Chung-Hua Institution Economic Research) Economic Research) (Source： Directorate-General of Budget, Accounting and Statistics) Due to the COVID-19, the economic growth rate is a negative value in Q2. But the epidemic outbreak has been controlled, the government deregulate gradually and introduce consumption policies to boost consumption in the second half of the year.
  • ANNUAL REPORT 2012 Contents

    ANNUAL REPORT 2012 Contents

    CHINA METAL INTERNATIONAL HOLDINGS INC. (Incorporated in the Cayman Islands with limited liability) Stock Code : 319 ANNUAL REPORT 2012 CONTENTS 2 CORPORATE INFORMATION 3 CHAIrman’s STATEMENT 5 MANAGEMENT DISCUSSION AND ANALYSIS 8 CORPORATE GOVERNANCE REPORT 17 REPORT OF THE DIRECTORS 25 BIOGRAPHICAL DETAILS OF DIRECTORS AND SENIOR MANAGEMENT 31 INDEPENDENT AUDITor’s REPORT 32 CONSOLIDATED INCOME STATEMENT 33 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 34 CONSOLIDATED STATEMENT OF FINANCIAL POSITION 35 STATEMENT OF FINANCIAL POSITION 36 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 37 CONSOLIDATED CASH FLOW STATEMENT 38 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 86 FIVE YEARS SUMMARY Annual Report 2012 CHINA METAL INTERNATIONAL HOLDINGS INC 1 CORPORATE INFORMATION BOARD OF DIRECTORS PLACE OF BUSINESS IN HONG KONG Executive Directors Room 1502, 15th Floor The Chinese Bank Building KING Fong-Tien (Chairman) 61-65 Des Voeux Road Central TSAO Ming-Hong (Vice Chairman) Hong Kong WU Cheng-Tao CHEN Shun Min PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE Non-Executive Director Appleby Corporate Services (Cayman) Ltd. Christian Odgaard PEDERSEN Clifton House 75 Fort Street Independent Non-Executive Directors P.O. Box 1350 GT George Town, Grand Cayman WONG Tin Yau, Kelvin, FHKIoD Cayman Islands CHIU LIN Mei-Yu (also known as Mary Lin Chiu) CHEN Pou-Tsang (also known as Angus P.T. Chen) HONG KONG BRANCH SHARE REGISTRAR COMPANY SECRETARY AND TRANSFER OFFICE TSE Kam Fai Computershare Hong Kong Investor Services Limited Shops 1712-1716, 17/F AUTHORISED REPRESENTATIVES Hopewell Centre 183 Queen’s Road East CHEN Shun Min Wanchai, Hong Kong TSE Kam Fai PRINCIPAL BANKERS AUDIT COMMITTEE Agricultural Bank of China WONG Tin Yau, Kelvin, FHKIoD (chairman) Tianjin TEDA Branch CHIU LIN Mei-Yu (also known as Mary Lin Chiu) International Development Building CHEN Pou-Tsang (also known as Angus P.T.
  • Encouraging Knowledge-Intensive Industries: What Australia Can Draw from the Industrial Upgrading Experiences of Taiwan and Singapore

    Encouraging Knowledge-Intensive Industries: What Australia Can Draw from the Industrial Upgrading Experiences of Taiwan and Singapore

    ENCOURAGING KNOWLEDGE-INTENSIVE INDUSTRIES: WHAT AUSTRALIA CAN DRAW FROM THE INDUSTRIAL UPGRADING EXPERIENCES OF TAIWAN AND SINGAPORE John A. Mathews Macquarie Graduate School of Management Report commissioned by the Australian Business Foundation August 1999 CONTENTS Page Foreword 3 Executive Summary 5 Abbreviations 9 1. Introduction: What is there to learn from Asia in 1999? 11 2. Industrial upgrading in Taiwan 15 3. Case study: Taiwan's innovation alliances 35 4. Industrial upgrading in Singapore 57 5. Case study: Singapore's cluster development strategies 76 6. Common institutional elements: Industrial upgrading and institutional learning 83 7. Concluding remarks: A way forward for Australian firms and institutions 94 2 FOREWORD Professor John A. Mathews of the Macquarie Graduate School of Management was commissioned by the Australian Business Foundation to research and prepare a paper that would offer some practical examples of industrial upgrading of relevance for Australia. The paper submitted describes and analyzes the industrial and technological upgrading practices of firms and public institutions in Singapore and Taiwan. These two nations are of particular interest because they have weathered the recent Asian financial crisis well. Their institutional strategies are robust and have important lessons for other countries, including Australia. The Australian Business Foundation is Australia's newest, independent, private sector economic and industry policy think-tank. It is sponsored as a separate research arm by Australian Business, the pre-eminent business services organisation. The mission of the Australian Business Foundation is to strengthen Australian enterprise through research and policy innovation. It does this by conducting ground-breaking research, which it uses to foster informed and well-argued debates and imaginative policy solutions and initiatives.
  • China Haiheng, Creating Wealth Through Serving

    China Haiheng, Creating Wealth Through Serving

    Made-in-China.com Source Quality Products Made in China About us : Made-in-China.com was developed by, and is operated by Focus Technology Co., Ltd. Focus Technology is a pioneer and leader in the field of electronic business in China. With the continuous and explosive growth of Chinese export, trade and number of internet users, Focus Tech- nology launched its online trade platform, Made-in-China.com. Made-in-China.com provides the most complete, accurate and up-to-date information on Chinese products and Chinese suppliers available anywhere on the web. Nowadays, Made-in-China.com is a world leading B2B portal, specializing in bridging the gap between global buyers and quality Chinese suppliers. For more information, Focus Technology Co., Ltd. please contact our Buyer Service Department at Add: Block A, Software BLDG., Xinghuo Road, New & Hi-Tech [email protected] Development Zone, Nanjing 210061, China Tel: +86-25-6667 5777 Fax: +86-25-6667 0000 ➲ Business Sourcing Events http://www.made-in-china.com Business Sourcing Events is a professional service Made-in-China.com provides. Every year, Made-in-China.com holds Business Sourcing Events in different industry sectors in different cities. During the last four years, Made-in-China.com successfully held Business Sourcing Events in Suzhou, Nanjing, Guangzhou, Qingdao and gained recognition from both buyers and suppliers who attended the events. By attending Business Sourcing Events, buyers can • meet and talk to pre-selected Chinese suppliers according to their requests • get help from Buyer Service Specialist on site • enjoy comfortable and relaxed setting Version Number: Bnjo-200100101 Copyright © 1998-2016 Focus Technology Co.,Ltd.
  • Investment Opportunities in the Electric Vehicle Industry in Taiwan

    Investment Opportunities in the Electric Vehicle Industry in Taiwan

    Investment Opportunities in the Electric Vehicle Industry in Taiwan I. Reason to Invest in the Electric Vehicle in Taiwan A. Considering the International Energy price and Vehicles Regulations, Electric car would Become the Mainstream Product in the Future 14% of the global carbon dioxide comes from transportation systems, and 60% of the transportations use petrochemical fuel. Electric vehicles have better efficiency in terms of the energy utilization ratio of the fuel. Also, no carbon dioxide would be produced while using. As the pollution source of the power generator is easier to control, the advanced countries such as European countries, Japan and American thus consider electric vehicles the key development techniques. The Chinese authorities even regard the commodification of electric vehicles as an important national strategy. Electric vehicles apparently have become the target that all countries aim to invest in. B. Taiwan has Related Basis and Industrial Clusters Given the fact that electric vehicles need to employ lots of information and computer technology, and Taiwan is able to assist the electric vehicle business developer and application developers thanks to its capacity in both electric and electronic field. The vehicle industry in Taiwan is good at developing middle-small sized vehicles and motorcycles. Meanwhile, Taiwan is able to develop the techniques of small-volume, large variety production in response to the local market needs. With the development and application experience of low-speed vehicles, Taiwan is a suitable environment for the electric vehicle industry to develop. The automobile components industry in Taiwan also has its strength as some of the vendors have already integrated into the international supply chain.
  • Poland Regional Cities-Comfort-Vehicle-List

    Poland Regional Cities-Comfort-Vehicle-List

    Make Model Year Oldsmobile 19 Oldsmobile Alero Oldsmobile Aurora Oldsmobile Bravada Oldsmobile Cutlass Supreme Oldsmobile Intrigue Oldsmobile Silhouette Dodge Attitude Dodge Avenger 2013 Dodge Caliber Dodge Caravan 2015 Dodge Challenger Dodge Charger 2013 Dodge Dakota Dodge Dart 2015 Dodge Durango 2013 Dodge Grand Caravan 2015 Dodge Intrepid Dodge JCUV Dodge Journey 2013 Dodge Magnum 2013 Dodge Neon 2015 Dodge Nitro 2013 Dodge Ram 1500 Dodge Ram 2500 Dodge Ram 3500 Dodge Ram 4500 Dodge Ram 700 Dodge Ram Van 2015 Dodge Sprinter Dodge Stratus 2015 Dodge Stretch Limo Dodge Viper Dodge Vision Dodge i10 Land Rover Defender 2013 Land Rover Discovery 2013 Land Rover Freelander 2013 Land Rover Freelander 2 Land Rover LR2 Land Rover LR3 Land Rover LR4 Land Rover Range Rover 2013 Land Rover Range Rover Evoque 2013 Land Rover Range Rover Sport 2013 Land Rover Range Rover Velar 2013 Land Rover Range Rover Vogue 2013 Chevrolet Agile Chevrolet Astra 2015 Chevrolet Astro Chevrolet Avalanche 2013 Chevrolet Aveo Chevrolet Aveo5 Chevrolet Beat Chevrolet Blazer Chevrolet Bolt Chevrolet CMV Chevrolet Camaro Chevrolet Caprice Chevrolet Captiva 2013 Chevrolet Cavalier Chevrolet Celta Chevrolet Chevy Chevrolet City Express Chevrolet Classic Chevrolet Cobalt 2015 Chevrolet Colorado Chevrolet Corsa Chevrolet Corsa Sedan Chevrolet Corsa Wagon Chevrolet Corvette Chevrolet Corvette ZR1 Chevrolet Cruze 2015 Chevrolet Cruze Sport6 Chevrolet Dmax Chevrolet Enjoy Chevrolet Epica 2013 Chevrolet Equinox 2013 Chevrolet Esteem Chevrolet Evanda 2013 Chevrolet Exclusive Chevrolet
  • CHINA CORP. 2015 AUTO INDUSTRY on the Wan Li Road

    CHINA CORP. 2015 AUTO INDUSTRY on the Wan Li Road

    CHINA CORP. 2015 AUTO INDUSTRY On the Wan Li Road Cars – Commercial Vehicles – Electric Vehicles Market Evolution - Regional Overview - Main Chinese Firms DCA Chine-Analyse China’s half-way auto industry CHINA CORP. 2015 Wan Li (ten thousand Li) is the Chinese traditional phrase for is a publication by DCA Chine-Analyse evoking a long way. When considering China’s automotive Tél. : (33) 663 527 781 sector in 2015, one may think that the main part of its Wan Li Email : [email protected] road has been covered. Web : www.chine-analyse.com From a marginal and closed market in 2000, the country has Editor : Jean-François Dufour become the World’s first auto market since 2009, absorbing Contributors : Jeffrey De Lairg, over one quarter of today’s global vehicles output. It is not Du Shangfu only much bigger, but also much more complex and No part of this publication may be sophisticated, with its high-end segment rising fast. reproduced without prior written permission Nevertheless, a closer look reveals China’s auto industry to be of the publisher. © DCA Chine-Analyse only half-way of its long road. Its success today, is mainly that of foreign brands behind joint- ventures. And at the same time, it remains much too fragmented between too many builders. China’s ultimate goal, of having an independant auto industry able to compete on the global market, still has to be reached, through own brands development and restructuring. China’s auto industry is only half-way also because a main technological evolution that may play a decisive role in its future still has to take off.
  • Yulon Motor Co. Ltd. Ratings Affirmed at 'Twa-/Twa-2' Under Revised Criteria; Outlook Stable

    Yulon Motor Co. Ltd. Ratings Affirmed at 'Twa-/Twa-2' Under Revised Criteria; Outlook Stable

    Rating Research Service 信用評等資料庫 Research Update Yulon Motor Co. Ltd. Ratings Affirmed At 'twA-/twA-2' Under Revised Criteria; Outlook Stable July 8, 2019 Rating Action Overview PRIMARY CREDIT ANALYST − Our assessment of the Yulon Motor group credit profile is 'twa-' following a review under S&P Global David Hsu Taipei Ratings' revised Group Rating Methodology, published July 1, 2019. +886-2-8722-5828 − On July 5, 2019, Taiwan Ratings Corp. affirmed its 'twA-' long-term and 'twA-2' short-term issuer david.hsu credit ratings on Yulon Motor Co. Ltd. @spglobal.com − The rating outlook is stable. david.hsu @taiwanratings.com.tw Rating Action Rationale SECONDARY CREDIT ANALYST The rating affirmation reflects our view that the group credit profile (GCP) of the Yulon Motor group Jin Dong, CFA remains unchanged at 'twa-', following our review under S&P Global Ratings' revised Group Rating Taipei Methodology. +886-2-8722-5821 jin.dong Based on the revised criteria, we first determine the standalone credit profile (SACP) of Yulon Motor Co. @spglobal.com Ltd. (after deconsolidating Yulon Finance Corp.) based on S&P Global Ratings' corporate methodology jin.dong criteria and the SACP of Yulon Finance based on S&P Global Ratings' non-bank financial institution @taiwanratings.com.tw criteria. We then combine the two SACPs to derive the GCP for the Yulon Motor group. Prior to the criteria revision, we incorporated analysis of the financial subsidiary in our corporate methodology to derive the ratings on Yulon Motor. In our view, several factors support Yulon Motor's SACP. These include the satisfactory market position of the company's Nissan branded car business in China in which Yulon Motor has directly invested and could continue to receive sizable and sustainable cash dividends, generally stable auto manufacturing business in Taiwan, and good financial flexibility with large investment properties on hand.
  • China Motor Corporation 2020 Annual Report (Translation)

    China Motor Corporation 2020 Annual Report (Translation)

    Stock Code：2204 China Motor Corporation 2020 Annual Report (Translation) Printed on March 31, 2021 Notice to Readers The Annual Report have been translated into English from the original Chinese version. If there is any conflict between the English version and the original Chinese version or any difference in the interpretation of the two versions, the Chinese version shall prevail. I. Information regarding Spokesperson, Deputy Spokesperson Spokesperson: Cheng-Chang Huang Title: Vice President Deputy Spokesperson: Yu-Chun Su Title: General Manager, Corporate Planning Division, China Motor Corporation Tel: 886-3-4783191 Email: [email protected] II. Contact Information of Headquarter, Branch Company and Plant Headquarter Address: 11F., No.2, Sec. 2, Dunhua S. Rd., Da’an Dist., Taipei City 106, Taiwan Tel: 886-2-23250000 Yang Mei Plant Address: No.618, Xiucai Rd., Yangmei Dist.,Taoyuan City 326, Taiwan Tel: 886-3-4783191 Hsin Chu Plant Address: No.2, Guangfu Rd., Hukou Township, Hsinchu County 303, Taiwan Tel: 886-3-5985841 III. Common Share Transfer Agent and Registrar Company: China Motor Corporation Address: 7F., No.150, Sec. 2, Nanjing E. Rd., Zhongshan Dist., Taipei City 104, Taiwan Tel: 886-2-25156421 Website: http:// www.china-motor.com.tw IV. Information regarding 2020 Auditors Company: Deloitte & Touche Auditors: Eddie Shao, Ya-Ling Wong Address: 20F, Taipei Nan Shan Plaza, No. 100, Songren Rd., Xinyi Dist., Taipei 11073, Taiwan Tel: 886-2-27259988 Website: http://www.deloitte.com.tw V. Information regarding Depositary: N.A. VI. Corporation Website: http:// www.china-motor.com.tw Table of Contents Report to Shareholders ________________________________________________ 6 Company Overview __________________________________________________ 8 I.