Consumer Durables
Dongfeng Motor Group Co., Ltd.
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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 2021 | HKD | USD |
| Revenue | 136,198.47M | 17,522.36M |
| Gross Profit | 15,770.18M | 2,028.88M |
| Operating income | -6,167.06M | -793.41M |
| Income before tax | -1,017.19M | -130.86M |
| Net income | 13,723.73M | 1,765.60M |
| EBITDA | -1,445.04M | -185.90M |
| Diluted EPS | 1.59 | 0.20 |
| Dividends Per Share | 0.34 | 0.04 |
| Total Assets | 391,159.98M | 50,172.51M |
| Total liabilities | 202,092.04M | 25,921.53M |
| Total equity | 180,238.40M | 23,118.45M |
| Operating cash flow | 28,129.62M | 3,618.96M |
| Currency in HKD | Currency in USD |
Historical Data
| Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | |
| Revenue | 145,265.88M | 123,826.36M | 114,624.21M | 121,854.43M | 136,198.47M |
| Gross Profit | 18,753.80M | 15,889.44M | 15,297.66M | 16,803.71M | 15,770.18M |
| Operating income | -856.74M | -2,669.75M | -2,666.97M | -1,398.99M | -6,167.06M |
| Income before tax | -6.91M | -1,448.58M | -1,067.01M | -301.14M | -1,017.19M |
| Net income | 16,213.55M | 15,373.02M | 14,579.89M | 12,088.69M | 13,723.73M |
| EBITDA | 1,656.98M | 240.44M | 713.23M | 2,239.52M | -1,445.04M |
| Diluted EPS | 1.88 | 1.78 | 1.69 | 1.40 | 1.59 |
| Dividends Per Share | 0.41 | 0.39 | 0.38 | 0.11 | 0.34 |
| Total Assets | 256,784.86M | 258,310.27M | 304,257.94M | 376,214.31M | 391,159.98M |
| Total liabilities | 117,419.15M | 113,836.15M | 152,059.62M | 206,020.40M | 202,092.04M |
| Total equity | 130,266.32M | 134,968.10M | 142,935.23M | 161,132.06M | 180,238.40M |
| Operating cash flow | 16,101.70M | -15,725.99M | 1,216.69M | 12,333.65M | 28,129.62M |
| Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | |
| Revenue | 18,640.99M | 15,799.12M | 14,629.39M | 15,710.99M | 17,522.36M |
| Gross Profit | 2,406.55M | 2,027.35M | 1,952.42M | 2,166.54M | 2,028.88M |
| Operating income | -109.94M | -340.63M | -340.38M | -180.37M | -793.41M |
| Income before tax | -0.88M | -184.82M | -136.18M | -38.82M | -130.86M |
| Net income | 2,080.57M | 1,961.45M | 1,860.82M | 1,558.62M | 1,765.60M |
| EBITDA | 212.62M | 30.67M | 91.02M | 288.74M | -185.90M |
| Diluted EPS | 0.24 | 0.22 | 0.21 | 0.18 | 0.20 |
| Dividends Per Share | 0.05 | 0.05 | 0.04 | 0.01 | 0.04 |
| Total Assets | 32,848.27M | 32,992.55M | 39,048.48M | 48,519.68M | 50,172.51M |
| Total liabilities | 15,020.42M | 14,539.66M | 19,515.33M | 26,570.07M | 25,921.53M |
| Total equity | 16,663.85M | 17,238.73M | 18,344.31M | 20,780.91M | 23,118.45M |
| Operating cash flow | 2,066.22M | -2,006.49M | 155.28M | 1,590.20M | 3,618.96M |
Valuation Measures
| Dec 2021 | |
| PER | 4.06 |
| ROA | 3.57% |
| ROE | 8.04% |
| Operating margin | -4.52% |
| Profit margin | 10.07% |
Key executives
- President & Executive Director: Qing Yang
- 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
- Westwood Global Investments LLC (7.9%)
- Invesco Asset Management Ltd. (6.0%)
- Edinburgh Partners Ltd. (5.3%)
- FIL Investment Management (Hong Kong) Ltd. (4.3%)
- Fidelity Management & Research Co. LLC (4.2%)
- The Vanguard Group, Inc. (3.0%)
- BlackRock Fund Advisors (1.8%)
- Dimensional Fund Advisors LP (1.5%)
- PineBridge Investments Asia Ltd. (1.4%)
- APG Asset Management NV (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
- Zhixin Technology Co., Ltd.
- Dongfeng Changxing (Wuhan) Technology Co., Ltd.
- Dongfeng Special Commercial Vehicle Co., Ltd.
- 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 Off-Road Vehicle 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.
- Dongfeng Liuzhou Motor Co., Ltd.
- Changzhou Dongfeng Agricultural Machinery Group Co., Ltd.
- Dongfeng Motor Finance Co., Ltd.
- Jiansu Hyundai Kia Yueda Motor Co Ltd
Competitors
- Great Wall Motor Co., Ltd. Class H
- Shanghai New Power Automotive Technology Co., Ltd. Class A
- KAMAZ PTC
- Tianjin Motor Dies Co. Ltd. Class A
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