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Consumer Durables

Dongfeng Motor Group Co., Ltd.

Company Background

Dongfeng Motor Group is one of China's three biggest automakers, along with First Automobile Works Group (FAW) and Shanghai Automotive Industry Corporation (SAIC). Its predecessor was Second Automobile Works Group, the second state-owned automaker established after FAW.

 

Dongfeng Motor is based in Wuhan, Hubei Province. It has established production and sales ventures with such foreign automakers as Nissan Motor and Honda Motor of Japan, PSA Peugeot Citroen and Renault of France and Kia Motors of South Korea. It sold about 2.73 million vehicles in 2014, giving it a market share of about 11.6%. Its joint venture with Nissan is the largest in China. The main plant for that alliance is in Guangzhou, Guangdong Province.

 

In May 2015, Xu Ping, who served as chairman for five years, handed over control of Dongfeng Motor to Zhu Yanfeng, former chairman of FAW. Zhu joined FAW in 1983 and headed the company as president and chairman between 2000 and 2007.

Business Summary

Dongfeng Motor Group Co., Ltd. engages in the automobile related business. It operates through the following business segments: Commercial Vehicles, Passenger Vehicles, Financing Service, and Corporate and Others. The Commercial Vehicles segment manufactures and sells commercial vehicles, engines, and its related engines and other automotive parts. The Passenger Vehicles segment includes passenger vehicles, and its related engines, and other automotive parts. The Financing Service segment provides financing services to external customers and companies within the group. The Corporate and Others segment involves the manufacture and sale of other automobile related product. The company was founded on May 18, 2001 and is headquartered in Wuhan, China.

Financial Highlights

Dec 2019 HKDUSD
Revenue114,624.21M14,629.39M
Gross Profit15,297.66M1,952.42M
Operating income-2,666.97M-340.38M
Income before tax-1,067.01M-136.18M
Net income14,579.89M1,860.82M
EBITDA713.23M91.02M
Diluted EPS1.690.21
Dividends Per Share0.380.04
Total Assets304,257.94M39,048.48M
Total liabilities152,059.62M19,515.33M
Total equity142,935.23M18,344.31M
Operating cash flow1,216.69M155.28M
Currency in HKDCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 156,116.71M 143,172.16M 145,265.88M 123,826.36M 114,624.21M
Gross Profit 20,881.59M 20,464.85M 18,753.80M 15,889.44M 15,297.66M
Operating income 3,800.35M 1,292.27M -856.74M -2,669.75M -2,666.97M
Income before tax 2,893.74M 2,534.29M -6.91M -1,448.58M -1,067.01M
Net income 14,246.70M 15,592.54M 16,213.55M 15,373.02M 14,579.89M
EBITDA 5,834.36M 3,620.92M 1,656.98M 240.44M 713.23M
Diluted EPS 1.65 1.80 1.88 1.78 1.69
Dividends Per Share 0.23 0.26 0.41 0.39 0.38
Total Assets 191,899.04M 206,481.79M 256,784.86M 258,310.27M 304,257.94M
Total liabilities 82,064.27M 89,886.11M 117,419.15M 113,836.15M 152,059.62M
Total equity 101,030.27M 107,911.53M 130,266.32M 134,968.10M 142,935.23M
Operating cash flow 8,629.43M 15,267.72M 16,101.70M -15,725.99M 1,216.69M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 20,137.40M 18,444.18M 18,640.99M 15,799.12M 14,629.39M
Gross Profit 2,693.50M 2,636.38M 2,406.55M 2,027.35M 1,952.42M
Operating income 490.20M 166.47M -109.94M -340.63M -340.38M
Income before tax 373.26M 326.48M -0.88M -184.82M -136.18M
Net income 1,837.67M 2,008.71M 2,080.57M 1,961.45M 1,860.82M
EBITDA 752.57M 466.46M 212.62M 30.67M 91.02M
Diluted EPS 0.21 0.23 0.24 0.22 0.21
Dividends Per Share 0.03 0.03 0.05 0.05 0.04
Total Assets 24,760.68M 26,631.98M 32,848.27M 32,992.55M 39,048.48M
Total liabilities 10,588.73M 11,593.49M 15,020.42M 14,539.66M 19,515.33M
Total equity 13,035.91M 13,918.41M 16,663.85M 17,238.73M 18,344.31M
Operating cash flow 1,113.10M 1,966.86M 2,066.22M -2,006.49M 155.28M

Valuation Measures

Dec 2019
PER4.33
ROA5.18%
ROE10.49%
Operating margin-2.32%
Profit margin12.71%

Key executives

  • President, CEO & Executive Director: Shao Zhu Li
  • Head-Operation Management Department: Wen Qing Wei
  • Head-Organization & Information Department: Jun Yu
  • Head-Technical Development Department: Guo Yuan Liu
  • Head-Financial Accounting Department: Yang Qiao

Shareholders

  • Standard Chartered Private Equity Ltd. (8.4%)
  • Westwood Global Investments LLC (8.2%)
  • Invesco Asset Management Ltd. (6.9%)
  • FIL Investment Management (Hong Kong) Ltd. (5.5%)
  • Edinburgh Partners Ltd. (5.3%)
  • Eastspring Investments (Singapore) Ltd. (4.9%)
  • The Vanguard Group, Inc. (3.6%)
  • FIL Investment Management (Singapore) Ltd. (2.4%)
  • BlackRock Fund Advisors (1.8%)
  • Dimensional Fund Advisors LP (1.4%)

Contact Details

  • Website:http://www.dfmg.com.cn
  • Address: Special No. 1 Dongfeng Road, Wuhan Economic and Technology, Wuhan, 430056, China
  • Phone: +86.27.8428.5555

Related Companies

  • Beijing Hairun Jia Automobile Sales & Service Co., Ltd.
  • Dongfeng Nissan Co., Ltd.
  • Dongfeng Motor Die & Mould Co., Ltd.
  • Wuhan Dongfeng Motor Industry Imp. & Exp. Co. Ltd.
  • Dongfeng (Shiyan) Special Purpose Commercial Vehicle Co. Ltd.
  • Dongfeng Motor (Hong Kong) International Co. Ltd.
  • Dongfeng Hongtai Holdings Group Co., Ltd.
  • Dongfeng Motor Parts & Components (Group) Co. Ltd.
  • Dongfeng Checheng Logistics Co. Ltd.
  • China Dongfeng Motor Industry Imp. & Exp. Co. Ltd.
  • Dongfeng Motor Co. Ltd. /Commercial Vehicle & Other Businesses
  • Dongfeng Electrical Vehicle Co. Ltd.
  • Dongfeng Motor City Logistics Co. Ltd.
  • Dongfeng Yu'an (Wuhan) Motor Co. Ltd.
  • Dongfeng Motor Corp. Passenger Vehicle Co.
  • Hubei Dongfeng Automobile Industry Import & Export Co. Ltd.
  • Dongfeng Yueda KIA Motors Co., Ltd.
  • Changzhou Dongfeng Agricultural Machinery Group Co., Ltd.
  • Dongfeng Motor Finance Co. Ltd.
  • Jiansu Hyundai Kia Yueda Motor Co Ltd

Competitors

  • Beiqi Foton Motor Co., Ltd. Class A
  • Great Wall Motor Co., Ltd. Class H
  • China Yuchai International Limited
  • Hualing Xingma Automobile (Group) Co., Ltd. Class A
  • PACCAR Inc
  • China Zenix Auto International Ltd. Sponsored ADR
  • Tianjin Motor Dies Co. Ltd. Class A
Last Updated on 7 Jul, 2020

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