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Dongfeng Motor (489.HK) – Initiation of Coverage 10 January 2013
Dongfeng Motor (489.HK) – Initiation of Coverage 10 January 2013 Dongfeng Motor (489.HK) Automobile Sector 10 January 2013 Research Idea: Moving Up the Gears Target Price HK$15.00 We rate Dongfeng Motor (DFG) a Buy with 12-month target price of 12m Rating Buy HK$15.00. Its sales have dropped since Q3 2012 amid Sino-Japan tensions, 16% upside but we expect a recovery to pre-protest levels in Q1 2013 and growth to DFG – Price Chart (HK$) persist backed by a strong brand lineup. As one of the nation’s leading 22 Bull, HK$20.90 20 automakers, DFG is a good proxy for a secular sector growth story. 18 16 Base, HK$15.00 Three reasons to Buy: 14 12 10 . Sino-Japanese tensions have eased. DF Honda’s sales rebounded to 8 pre-protest levels while DF Nissan’s rebounded to 80% of pre-protest 6 Bear, HK$6.40 Jan12 May12 Sep12 Jan13 May13 Sep13 Jan14 levels in December, well above expectations. Consumer concerns about damage to vehicles should be offset by Sino-Japan auto JVs Price (HK$) 12.96 guaranteeing to repair damage caused during the recent unrest. We Mkt cap – HK$m (US$m) 112,354 (14,494) expect DFG’s sales volume growth to rebound from down 0.8% to +11% in FY13. Free float – % (H-share) 100.00 3M avg. t/o– HK$m (US$m) 299.5 (38.6) . Strong brand lineup can facilitate market-share gains. DFG has Major shareholder (%) three JVs and a comprehensive range of well-received models, which should help minimize sales fluctuations. -
2016 Annual Report
東風汽車集團股份有限公司 DONGFENG MOTOR GROUP COMPANY LIMITED Stock Code: 489 2016 Annual Report * For identification purposes only Contents Corporate Profile 2 Chairman’s Statement 3 Report of Directors 7 Management Discussion and Analysis 42 Profiles of Directors, Supervisors and Senior Management 51 Report of the Supervisory Committee 59 Corporate Governance Report 61 Independent Auditor’s Report 84 Consolidated Income Statement 91 Consolidated Statement of Comprehensive Income 92 Consolidated Statement of Financial Position 93 Consolidated Statement of Changes in Equity 95 Consolidated Statement of Cash Flows 97 Notes to the Financial Statements 100 Five Year Financial Summary 189 Corporate Information 191 Notice of Annual General Meeting and Relating Information 192 Definitions 208 Corporate Profile Dongfeng Peugeot Citroën Sales Co., Ltd. Dongfeng Peugeot Citroën Auto Finance Co., Ltd. Dongfeng (Wuhan) Engineering Consulting Co., Ltd. Dongfeng Motor Investment (Shanghai) Co., Ltd. Dongfeng Off-road Vehicle Co., Ltd. Dongfeng Motor Co., Ltd. Dongfeng Nissan Auto Finance Co., Ltd. China Dongfeng Motor Industry Import & Export Co., Ltd. Limited Dongfeng Motor Finance Co.,Ltd. Dongfeng Getrag Automobile Transmission Co., Ltd. Dongfeng Renault Automobile Co., Ltd. Dongfeng Liu Zhou Motor Co., Ltd. Dongvo (Hangzhou) Truck Co., Ltd. Honda Motor (China ) Investment Co.,Ltd. Motor Group Company Dongfeng Honda Auto Parts Co., Ltd. ), the predecessor of Dongfeng Motor Corporation and the parent of the the parent of Corporation and of Dongfeng Motor the predecessor ), Dongfeng Honda Engine Co., Ltd. Dongfeng Honda Automobile Co., Ltd. Dongfeng Dongfeng Peugeot Citroën Automobile Co., Ltd. Dongfeng Commercial Vehicle Co., Ltd. Dongfeng Electrical Vehicle Co., Ltd. 第二汽車製造廠 Dongfeng Special Purpose Commercial Vehicle Co., Ltd. -
€500,000,000 1.940% Senior Notes Due 2023 €750,000,000 2.652
€500,000,000 1.940% Senior Notes due 2023 €750,000,000 2.652% Senior Notes due 2026 €750,000,000 3.201% Senior Notes due 2028 Nissan Motor Co., Ltd., a joint stock corporation incorporated with limited liability under the laws of Japan, is offering €500,000,000 aggregate principal amount of 1.940% senior notes due 2023 (the “2023 notes”), €750,000,000 aggregate principal amount of 2.652% senior notes due 2026 (the “2026 notes”) and €750,000,000 aggregate principal amount of 3.201% senior notes due 2028 (the “2028 notes” and, together with the 2023 notes and the 2026 notes, the “notes”). We will pay interest on the 2023 notes on September 15 of each year, beginning on September 15, 2021. There will therefore be a short first coupon for the 2023 notes. We will pay interest on the 2026 notes on March 17 of each year, beginning on March 17, 2021. There will therefore be a short first coupon for the 2026 notes. We will pay interest on the 2028 notes on September 17 of each year, beginning on September 17, 2021. The 2023 notes will mature on September 15, 2023, the 2026 notes will mature on March 17, 2026 and the 2028 notes will mature on September 17, 2028. The notes will be our general unsecured senior obligations and will have the same rank in liquidation as all of our other unsecured and unsubordinated debt (except for statutorily preferred obligations) and without any preference among themselves. The notes will be issued only in registered form in minimum denominations of €100,000 and integral multiples of €1,000 in excess thereof. -
Sustainability Report of Nissan's Subsidiaries in China
Sustainability Report of Nissan’s Subsidiaries in China About This Report Period Covered Reliability Assurance From January 1, 2017 to December 31, 2017. In order to improve data comparability, part of contents Nissan’s subsidiaries in China ensure that the materials disclosed in this Report are authentic and reliable is beyond this period. and that no false record, major omission or misleading statement is contained herein. Organizational Scope This Report covers Nissan (China) Investment Co., Ltd. (hereinafter referred to as “NCIC”), Nissan’s Report Preparation Process wholly-owned subsidiary in China; Dongfeng Motor Co., Ltd. (hereinafter referred to as “DFL”), Nissan’s joint venture in China, and Dongfeng Nissan Passenger Vehicle Company (hereinafter referred to as"DFN"), DFL’s subsidiary in charge of the passenger vehicle business; Zhengzhou Nissan Initial Report Content Design Feedback Automobile Co., Ltd. (hereinafter referred to as “ZNA”), also a joint venture of Nissan; and Dongfeng Preparation Writing Review Release and Plan Infiniti Motor Co., Ltd. (hereinafter referred to as “DFI”), a wholly-owned subsidiary of DFL. In this Report, “Nissan’s subsidiaries in China” refer to the companies above in general, and “Nissan” refers to Nissan Motor Corporation. ● Establishment of the ● Confirmation of report ● Confirmation of report ● Formation of report ● Collection of feedback from workgroup framework and content contents design draft stakeholders ● Peer benchmarking ● Report preparation ● Senior review of report ● Report release ● Adjustment and optimization analysis contents of further work plan Reporting Cycle ● Information collection ● Third-party assessment As an annual report, this Report is the first sustainability report released by Nissan Motor Corporation report in China. -
Financial Information 1.1MB
Financial Information as of March 31, 2019 (The English translation of the “Yukashoken-Houkokusho” for the year ended March 31, 2019) Nissan Motor Co., Ltd. Table of Contents Page Cover .......................................................................................................................................................................... 1 Part I Information on the Company .......................................................................................................... 2 1. Overview of the Company ......................................................................................................................... 2 1. Key financial data and trends ........................................................................................................................ 2 2. History .......................................................................................................................................................... 4 3. Description of business ................................................................................................................................. 6 4. Information on subsidiaries and affiliates ..................................................................................................... 7 5. Employees................................................................................................................................................... 13 2. Business Overview ..................................................................................................................................... -
DFMC2013SHZRNB.Pdf
东 风 汽 车 公 司 2013 社会责任报告 东风汽车公司社会责任报告 DFM CORPORATION SOCIAL RESPONSIBILITY REPORT 官方微博 官方微信 Dongfeng, the nurturing east wind Ⱋᒂ Contents ͚ప͉ᷓ䷻⋓ 㔲䉐ШڠDongfeng Nurturing China Dream ݖ⯷Ⱕ Stakeholders’ Responsibility 䪬ڞ㔲 ̻ڠȟч䉐Шጒ҉⤳ᔢ ⋓∪ݖ⯷Ⱕ ȟч䉐Ш͚㵹ߕ䃎ܿÿÿ⋓䃎ܿ ȟͧ㗎͉݈䕍Фթఋ្ ȟч䉐Ш㻳㻶㶕⣝ ȟͧঅጒᐧ䃫Ꭵ⺼უచ ȟч䉐Шノ⤳ಸ ȟͧᝤӈх䉕ϔ৮ ȟч䉐Ш䃛䷅䔶᠖ 䊏Ꭰझڞȟͧцѡᥚᐧ ȟч䉐Ш⇌䕇 Й̭䊤䔪ᄨ⮱͉䷻ᷓ ȟч䉐Ш㘪߈ᐧ䃫 Let’s Work Together to Pursue Dongfeng Dream ȟ䉐Ш㢐㾶 ȟ㦐θ䪬㜡䓋 ȟᕨ㏼⤳㜡䓋 ䷻Ⱪ͚⮱͉ڠȟݖ⯷Ⱕ थキϸڙȟ ⤳⇨थڙȟ ȟ㏱㏴ᱧᲱȟ ȟ䄇ԎႵ∂ Ԋ䃮Ю͇⽠֒ࣾᆂ ȟЮ͇᪴ࡃ ϔ ᐧ䃫֒Ꮴ䓽㥒⣜ධ⩌ڕȟႶ ȟ㜗݈ͨ ក䕍ℾ↪䒓৮❹ 䊝䔈͉䷻⮱̓⩹ ㏼≻䉐Ш Walk into the World of Dongfeng Economic Responsibility ㍮㢐ڞ㞟ప䃎ℾ⩌ ̻పუ⋓ ⯷䉐Шڙч Public Welfare Responsibility 䔈ₒڞ⯷θ͇ ̻чڙ㒻⋓ ⤳⯷ᙵノڙȟ ⯷䶦Ⱋڙȟ Ꭱᆂ᱈ Outlook 2014 ȟᠴᴴ㉏ᑂ ȟ្ॷ䃱㏔ λ᱙្ॷڠȟ ȟႹ⣜ධノ⤳ ȟᘼ㻮ࣺ亵㶕 ȟᐧ䃫㐬㞟ጒࢯ ȟᗲ㈨᪴ࡃθ͇ ȟ⩌ϔ⣜Ԋϔ৮ ȟᑂᄩ֒Ꮴ↪䒓᪴ࡃ ⣜ධ䉐Ш 䭱ᒂ Environment Responsibility ᪴ࡃ䉐Ш The Appendix Cultural Responsibility হ䄽ڞ㜗♣ ̻⣜ධͪ⋓ ࣾᆂڞ᪴ࡃ ̻᪴ᬻ⊥⋓ थч䉐Ш្ॷڙ䒓↪䷻͉ DFM CORPORATION SOCIAL RESPONSIBILITY REPORT 2013 ై͛ˇῨ℗ঌᔻ˝▚ཝ Let’sL Work Together to Pursue Dongfeng Dream ᒽᎠ XU PING ༁Γ䃝ڇथ㦐θ䪬Ƞڙ䒓↪䷻͉ Chairman of Board and Secretary of CPC Committee, DFM 㦐θ䪬㜡䓋 Chairman of Board थౕчڙहఋ䶫䓴̭ࣨᎡ͉䷻↪䒓ڞᓰȠᩜᠮȠԎШ͉䷻θ͇⮱ҍЙ喑ڠ䕇䓴Ȩч䉐Ш្ॷȩ̻̭Ⱑڡ䲋፥倅 㐅᱗Გ⮱ࣾᆂ̻ᷓᘠȡڞ䉐Шθ͇䲏ःᓄ⮱䔈ₒ喑ܳϘߌ⮱ૉᗓহᙌߕ喑 थ䨭ਜ਼↪䒓 ̴䒳喑ᅲڙᎡڕथಇᠮ⽠͚Ⅿ䔈喑ऱ䶦θ͇䓵̷⮱झ䭣喑θ͇ᵦധᰡߍ➏ధȡڙ䷻Ꭱ͉ 䲏倅䉕䛼ႹȡڕϬٰ喑㏼㥒䉕䛼ᓄݝ䔈̭ₒࡴ喑పߎ䮏ప䉱༁㔰ᵥᠴᴴ ڒ㵹͇すι喑⣝䨭ਜ਼ᩣ 㔲䉐ڠ㞟ᆒ㵹㏼≻䉐ШȠݖ⯷Ⱕܧ䉌䉐Ш⮱๛Ю喑͉䷻ᠶ⚔ч䉐Ш͚㵹ߕ䃎ܿÿÿĄ⋓ą䃎ܿ⮱䘕㒟喑ౕͧ҉ थч䉐Шڙह⮱ߗ߈̸喑ڞ⯷䉐ШȠ᪴ࡃ䉐Шぶ䲏⮱ᆒ䉐ጒ҉ȡౕЙڙШ⮱हᬣ喑⼜Ხᐭᆂ⣜ධ䉐ШȠч 㔲ą喑Ѻλ㵹͇ݺ݄喑Ꭳ㢐㣤Ą͚పЮ͇ч䉐Шࢀ䊷ąぶ㈨݄ᆒ䉐㢐㾶ȡٵĄ䶳ڒࣾᆂᠴ仃⁎ϻĄ䔪䊣㔲ą䔈 ᣕ䔈͉䷻Ąⷠڒ⌞ᄾᴀᢿᩫহ㘪⎽⊵㕄喑ߍᔘࣾᆂ㞯㘪̻㘪⎽↪䒓喑ۼФթ䨫㜡߈λڕ䓴̭ࣨᎡ喑Йౕ ᢿⰛᴴ喑ͧᲱᐧ⣜ධࣸສಸ↪䒓ч䉎⡛γ㜗ጞ⮱߈䛼ȡЙ䕇䓴Ą͉ۼᎠ㶎ą⩌ᔮ᳄ぶ䶦Ⱋ喑倅ᴴ۳ႹᎡᏓ㞯㘪 㠄㵹ߕąȠĄϟ֒Ꮴᔘ䒓ąȠĄᄦऐឣᤡᐧąぶ䶦Ⱋ喑ᎡᏓ㉜䃎䊍 ̴ٰ喑๔߈ᩜᠮౝ㏼≻⋓䷻ -
Akebono Brake
22 March 2016 Asia Pacific/Japan Equity Research Automobile Manufacturers / Auto Parts & Equipment (Auto Parts (Japan)/Tire (Japan)/Auto (Japan)) / MARKET WEIGHT/MARKET WEIGHT/OVERWEIGHT Auto, Auto Parts Sector Research Analysts SECTOR REVIEW Masahiro Akita 81 3 4550 7361 [email protected] 2016 China survey: Nissan, Jatco, Calsonic Koji Takahashi 81 3 4550 7884 Kansei, Unipres, Akebono Brake [email protected] ■ 2016 China survey: We recently toured factories and other facilities operated by Nissan (7201) and its suppliers in China, the world’s largest automobile market and one for which there is concern about near- to medium-term demand. Our visit took in Dongfeng Motor Company Limited (DFL)—Nissan’s JV with Dongfeng Motor Corp.—as well as manufacturing arm Dongfeng Motor Passenger Vehicle’s factories at Huadu and Dalian. Among suppliers, we toured Jatco (Guangzhou) Automatic Transmission, Calsonic Kansei (Guangzhou) Components Corp., Unipres Guangzhou Corp./Unipres Precision Guangzhou Corp., and Akebono Brake subsidiary Akebono Corp. (Guangzhou). We report here on where these companies think the Chinese market is headed and how their profits are faring. ■ Market views mixed, but optimism unwarranted: China’s automobile market reached 24.6mn units in 2015. All of the companies we spoke with expect continued gradual market growth over the longer term, but views differed on the near- to medium-term outlook. Tax breaks introduced at end- 2015 appear to be buoying demand, but the actual sales environment remains difficult. This has overseas brands struggling while local Chinese automakers—the tax cuts’ primary beneficiaries—gain market share. However, the prevailing view is that the best-positioned brands are those with the strongest new product pipelines, which is borne out by Japanese OEMs’ solid performance so far. -
2020 Annual Results Announcement
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, 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 announcement. DONGFENG MOTOR GROUP COMPANY LIMITED* 東風汽車集團股份有限公司 (a joint stock company incorporated in the People’s Republic of China with limited liability) (Stock Code: 489) 2020 ANNUAL RESULTS ANNOUNCEMENT The Board of Directors (the “Board”) of Dongfeng Motor Group Company Limited (the “Company”) is pleased to announce the audited consolidated results of the Company and its subsidiaries (the “Group” or the “Dongfeng Motor Group”) for the year ended 31 December 2020 together with the comparative figures in 2019. In this announcement, unless otherwise specified, all references to business, including manufacture, research and development, outputs and sales volume, market share, investment, sales network, employee, motivation, social responsibility, corporate governance include all relating to the Dongfeng Motor Group, subsidiaries, joint ventures and associates (including subsidiaries, joint ventures and associates of the Company in which the members of the Group have direct or indirect equity interests). DONGFENG MOTOR GROUP COMPANY LIMITED CONSOLIDATED INCOME STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2020 Year ended 31 December 2020 2019 Notes RMB million RMB million Revenue 4 107,964 -
DONGFENG MOTOR GROUP COMPANY LIMITED* 東風汽車集團股份有限公司 (A Joint Stock Company Incorporated in the People’S Republic of China with Limited Liability) (Stock Code: 489)
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, 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 announcement. DONGFENG MOTOR GROUP COMPANY LIMITED* 東風汽車集團股份有限公司 (a joint stock company incorporated in the People’s Republic of China with limited liability) (Stock Code: 489) 2020 INTERIM RESULTS ANNOUNCEMENT The Board of Directors (the “Board”) of Dongfeng Motor Group Company Limited (the “Company”) is pleased to announce the unaudited consolidated results of the Company and its subsidiaries (the “Group” or the “Dongfeng Motor Group”) for the six months ended 30 June 2020 together with the comparative figures of the corresponding period of 2019. The 2020 interim financial information has been reviewed by the Company’s audit and risk management committee and the Company’s auditor, PricewaterhouseCoopers, in accordance with Hong Kong Standards on Review Engagements 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Hong Kong Institute of Certified Public Accountants. In this announcement, unless otherwise specified, all references to business, including manufacture, research and development, outputs and sales volume, market share, investment, sales network, employee, motivation, social responsibility, corporate governance includes all relating to Dongfeng Motor Group, subsidiaries, joint ventures and associates (including subsidiaries, joint ventures and associates of the Company in which the members of the Group have direct or indirect equity interests). -
2013 Vehicle Technologies Market Report
Vehicle Technologies 2013 Market Report Quick Facts Energy and Economics • Transportation accounts for 28% of total U.S. energy consumption. • Dependence on oil cost the U.S. economy $500 billion in 2012. • The average price of a new car is just over $25,000. • Almost 18% of household expenditures are for transportation. • Over 9 million people are employed in the transportation industry. Light Vehicles • The top nine manufacturers selling vehicles in the U.S. produce about half of the world’s vehicles. • U.S. sales volumes continued to rise in 2012. • Sales-weighted data on new light vehicles sold show a 121% increase in horsepower and 35% decrease in 0-60 time from 1980 to 2013, with the fuel economy of vehicles improving 25%. • Nearly 17% of cars sold in 2013 have continuously variable transmissions. • Almost two-thirds of new light vehicles sold in 2013 have transmissions with more than 5 speeds. Heavy Trucks • Class 8 combination trucks consume an average of 6.5 gallons per thousand ton-miles. • Class 3 truck sales have continued to increase in 2012. • Sales of class 4-7 trucks continued to increase in 2012, but were more than 5% below the 2008 level. • Class 8 truck sales continued to increase in 2012 and have risen drastically above 2009 figures. • Diesel comprised 74% of the class 3-8 trucks sold in 2012, up from 72% in 2008. • Combination trucks are driven an average of over 66,000 miles per year. • Idling a truck-tractor’s engine can use more than a gallon of fuel per hour. -
Nissan Motor Co., Ltd
Financial Information as of March 31, 2015 (The English translation of the “Yukashoken-Houkokusho” for the year ended March 31, 2015) Nissan Motor Co., Ltd. Table of Contents Page Cover ........................................................................................................................................................................... 1 Part I Information on the Company ........................................................................................................... 2 1. Overview of the Company ......................................................................................................................... 2 1. Key financial data and trends ........................................................................................................................ 2 2. History .......................................................................................................................................................... 4 3. Description of business ................................................................................................................................. 6 4. Information on subsidiaries and affiliates ..................................................................................................... 7 5. Employees ................................................................................................................................................... 13 2. Business Overview ..................................................................................................................................... -
NISSAN Function List V18.3 Notes: √ :Functions Is Fully Supported and Already Exited in Former Software Version
NISSAN Function List V18.3 Notes: √ :Functions is fully supported and already exited in former software version. ※: Functions is fully supported and newly added in current software version. Vehicle models covered Model Year 350Z 2003-2009 370Z 2009-2017 Ad van 2006-2017 AD/AD expert 2016-2017 Almera 2006-2017 Altima coupe 2007-2013 Altima hybrid 2007-2011 Altima sedan 1997-2016 Armada 2003-2017 Atlas 2007-2017 Atleon 1999-2012 Avenir 2003-2017 Bassara 2003-2017 Bluebird 2003-2017 C27 2016-2017 Cabstar 2006-2017 Caravan 2001-2010 Cedric 1995-2017 Cefiro 2003-2017 Cima 2001-2012 Civilian 1999-2015 Crew 1996-2007 Cube 2002-2017 Cube3 2003-2006 Dualis 2007-2012 Elgrand 2003-2017 e-NV200 2014-2017 e-NV200 2012-2015 Fairlady Z 2002-2017 Frontier 1998-2017 Fuga 2004-2016 Fuga hybrid 2010-2016 Grand livina 2011-2016 Juke 2010-2016 Juke (4WD) 2010-2015 JUKE NISMO 2013-2016 Juke(2WD) 2011-2015 KICKS 2016-2017 Lafesta 2005-2010 LANNIA 2015-2016 LATIO 2012-2014 Leaf 2010-2016 Leopard 2003-2016 Liberty 2003-2016 Livina 2012-2017 Livina geniss 2007-2017 LIVINA X-GEAR 2014-2017 March 2002-2016 MARCH ACTIVE 2014-2017 March/micra 2003-2017 Maxima 1998-2017 Micra 1993-2016 Mistral 2003-2016 Murano 2003-2017 Murano cross cabriolet 2011-2014 MURANO Hybrid 2015-2017 Navara 2005-2017 Nissan GT-R 2007-2017 Note 2006-2016 NP200 2008-2016 NP300 NAVARA 2014-2017 NT500 2013-2016 NV 2012-2017 NV200 2010-2016 NV200 TAXI 2014-2017 NV200 Vanette 2009-2016 NV350 caravan 2012-2017 NV350 urvan 2012-2017 NV400 2011-2015 Paladin 2003-2016 Paramedic 1998-2014 Pathfinder