1 DFG 2007 Annual Result April 17 th , 2008
Jan 05, 2016
1
DFG 2007 Annual Result
April 17th, 2008
2
Contents
DFG Business Overview
DFG Financial Performance
Outlook of DFG and PRC Auto Industry in 2008
PRC Auto Industry Overview
3
Steady Growth of PRC Auto Industry
397. 1517. 6
629. 8180. 1
178. 7204
249. 4
327. 1
0
200
400
600
800
1000
2004 2005 2006 2007
PV Sal es CV Sal es
575.7575.7
721.6721.6
879.2879.2
Unit:0,000’Unit:0,000’
Annual Growth Rate:20.22%
31.04%31.04%
68.96%68.96%
28.27%28.27%
71.73%71.73%
28.37%28.37%
71.63%71.63%
64.49%64.49%
35.51%35.51%
507.2507.2
4
HD Monthl y Sal es
18803 15253
3724831848
22503 1924012634 11584 14994 15848 1717318602
1168118353
35934 3346328189 25184
20354 2068426500 26691 287702956527629 24216
53502 53929 50053 4642339460 36267
40342 37762 381643666039968 38714
89558
0100002000030000400005000060000700008000090000
100000
J an Feb Mar Apr May J un J ul Aug Sep Oct Nov Dec
2005 2006 2007 2008
2007HD Sal es Structure(Uni t 0, 000' )
21. 66, 45%
17. 78, 36% 9. 31, 19%
HD Truck Non- Compl ete HD Semi - t rai l er
HD Truck Sal es on Horsepower
38. 8%
27. 9%
25. 7%
7. 6%
<240 HP 240 280【 , ) 280 330【 , ) >330HP
Rapid Growth of PRC CV IndustryRapid Growth of PRC CV Industry
CV Growth Higher than Industry Expectation, with Heavy Duty Truck Segment Recording Outstanding Increase
HD Truck Sales StructureHD Truck Sales Structure
23. 7 30. 7 48. 8
85. 4 95. 1110. 523. 3
29. 1
31. 526. 9
28. 9
34. 9
19. 4 20. 223. 7
-
50. 0
100. 0
150. 0
200. 0
250. 0
300. 0
2005 2006 2007
HD Truck MD Truck LCV Mi ni Truck Bus
249.4249.4204204
178.7178.7
Monthly Sales of HD Trucks Monthly Sales of HD Trucks
Average Growth:11.86%
5
Continuous Growth of PV Sales, Upgrading Sales Structure
Continuous Rapid Growth of PV BusinessContinuous Rapid Growth of PV Business PV Growth Structure in 2007PV Growth Structure in 2007
- 31%
28%
55%
55%
43%
21. 68%
18. 30%
50%
- 40% - 20% 0% 20% 40% 60%
<1. 0L
(1L, 1. 6L]
(1. 6L, 2. 0L]
(2. 0L, 2. 5L]
(2. 5L, 3L]
Total PV
MPV
SUV
YoY
3,971
6,2985,176
0
2,000
4,000
6,000
8,000
2005 2006 2007
Annual Growth:24.47 %
6
Contents
DFG Financial Performance
Outlook of DFG and PRC Auto Industry in 2008
PRC Auto Industry Overview
DFG Business Overview
7
17. 735. 1
49. 563. 824. 6
24. 4
25. 6
31. 2
0
20
40
60
80
100
2004 2005 2006 2007
PV Sal es CV Sal es
59.559.5
75.175.1
95.095.0Unit:0000’Unit:0000’
41.01%41.01%
58.99%58.99%
34.09%34.09%
65.91%65.91%
32.84%32.84%
67.15%67.15%
DFG Sales Growth Higher than Industry
Average
Average Growth in the Past 3 Years:31.16%
42.342.3
58.16%58.16%
41.84%41.84%
8
2. 52
6. 34
12. 7
0
2
4
6
8
10
12
14
2005 2006 2007
15. 75
20. 35
27. 19
0
5
10
15
20
25
30
2005 2006 2007
14. 04
20. 13 20. 73
0
5
10
15
20
25
2005 2006 2007
Dongfeng Nissan PV Co.Dongfeng Nissan PV Co.
Growth:33.59%
Unit:0000’
Successful Launch of PV Models Drives Continuous Growth of PV Business
DPCADPCAPSA Peugeot Citroën
Dongfeng Honda Auto Co.,Dongfeng Honda Auto Co.,
Growth:2.98%
Growth:100.32%
In 2007 , PV sales of DFG reached 638,000 units, representing a YoY growth of 28.89% , 7 % higher than industry PV average.
9
Improved CV Market Position, with Adjusted and Upgraded Product Port
Folio
6. 705. 00
10. 108. 8
6. 4
11. 7
0. 00
2. 00
4. 00
6. 00
8. 00
10. 00
12. 00
14. 00
HD Truck MD Truck LCV
2006 2007
Market Share :■ 21.8% ■ 18%
Market Share : ■ 24.8% ■ 27%
Market Share : ■ 10.6% ■ 10.6%
07 Upgraded Kinland
Dalisen
Dongfeng Kinland was launched to the market in May,2006 , and it was further upgraded and improved in 2007, as a result of which, it achieved remarkable market performance. Total aggregate sales of Kinland and Dalishen was 22,000 units last year.
Unit:0000’Unit:0000’
10
Contents
Outlook of DFG and PRC Auto Industry in 2008
PRC Auto Industry Overview
DFG Business Overview
DFG Financial Performance
11
Steady Sales Revenue Growth in 2007
Strong Sales Revenue GrowthStrong Sales Revenue Growth in the Past 3 Yearsin the Past 3 Years Stable Sales Revenue StructureStable Sales Revenue Structure
4173548264
59318
0
10000
20000
30000
40000
50000
60000
70000
2005 2006 2007
2006 Revenue Structure
70. 91%
27. 39%1. 70%
PV CV others
2007Revenue Structure
70. 22%
28. 49%1. 28%
PV CV others
Unit:RMB mn
12
Stable Growth of Gross Profit
Stable Growth of Gross ProfitStable Growth of Gross Profit EBIT & EBIT Rate in Recent 3 YearsEBIT & EBIT Rate in Recent 3 Years
6096
8206
9815
0
2000
4000
6000
8000
10000
12000
2005 2006 2007
Gross Profi t
26703029
4131
6.40% 6.30%
7.00%
0
1000
2000
3000
4000
5000
2005 2006 2007
5.00%
6.00%
7.00%
8.00%
EBI T EBI T Rate
Unit:RMBmn
13
Enhanced Operation Efficiency and Increased Profitability
Net Profit and NP Margin Recent 3 YearsNet Profit and NP Margin Recent 3 Years Improved ROE in Recent 3 YearsImproved ROE in Recent 3 Years
1601
2081
3770
3.84%4.31%
6.40%
0
500
1000
1500
2000
2500
3000
3500
4000
2005 2006 2007
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
7.00%
Net Profi t Net Profi t Margi n
1220714288
17713
13.10%15.70%
23.60%
0
5000
10000
15000
20000
2005 2006 2007
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
Sharehol ders Equi ty ROE
Unit:mnRMB
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Contents
PRC Auto Industry Overview
DFG Business Overview
DFG Financial Performance
Outlook of DFG and PRC Auto Industry in 2008
15
Growth Prospect of PRC Auto Industry
In recent years, PRC auto industry maintains steady growth, first 3 months industry sales in 2008 was also positive;
We expect PRC auto industry to continue the rapid development momentum in 2008, but due to macro economy tightening policy, auto growth is likely to slow down. If auto industry grows by a conservative 15%, total auto sales in 2008 will reach 10.1 million units; if it grows by an optimistic 20%, then total industry sales will reach 10.54 million units.
36. 631. 9
58. 253. 7
46. 951. 6
43. 3 41. 8949. 61
45. 19
55. 1462. 39
53. 0147. 99
72. 1567. 29
56. 75 55. 76
46. 7152. 81
63. 557. 63
68. 975. 86
71. 71
55. 34
84. 7280. 87
71. 36 72. 69
64. 09 67. 16
77. 28
69. 23
80. 0983. 9385. 94
66. 35
105. 65
20
30
40
50
60
70
80
90
100
110
J an Feb Mar Apr May J une J ul y Aug Sep Oct Nov Dec
2005 2006 2007 2008
16
Growth Prospect of DFG
In 2008, DFG will launch a variety of new PV models to broaden its PV product port folio; in CV segment, DFG will further optimize the product structure of Kinland series to cater to the market demand; meanwhile, the Group will launch another HD truck serial:D530 to enhance the competitive edge of commercial vehicles in the domestic market.In 2008, the Group sets the annual sales target between 1.1mn units to 1.15 mn units, with a 7:3 sales breakdown between PV and CV.In 2008, faced with such challenging factors as raw material price hike, increase of labor cost, declining auto price, DFG management will spare no efforts to maintain the Group’s profitability through launch of new products, further increase scale of economy, improvement of local content ratio and enhancement in cost management capabilities.
两驱 CRVSales Target
150,000
骊威运动版 奇骏 新天籁
Sales Target340,000逍客
PSA Peugeot Citroën
C4两厢 307 Sales Target
280,000
新爱丽舍
三厢 206