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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 2020 HKDUSD
Revenue121,318.43M15,641.89M
Gross Profit17,597.03M2,268.83M
Operating income-1,215.83M-156.76M
Income before tax-266.31M-34.33M
Net income12,126.89M1,563.55M
EBITDA2,376.61M306.42M
Diluted EPS1.400.18
Dividends Per Share----
Total Assets375,280.03M48,399.18M
Total liabilities205,217.72M26,466.55M
Total equity161,019.42M20,766.38M
Operating cash flow12,475.24M1,608.46M
Currency in HKDCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 143,172.16M 145,265.88M 123,826.36M 114,624.21M 121,318.43M
Gross Profit 20,464.85M 18,753.80M 15,889.44M 15,297.66M 17,597.03M
Operating income 1,292.27M -856.74M -2,669.75M -2,666.97M -1,215.83M
Income before tax 2,534.29M -6.91M -1,448.58M -1,067.01M -266.31M
Net income 15,592.54M 16,213.55M 15,373.02M 14,579.89M 12,126.89M
EBITDA 3,620.92M 1,656.98M 240.44M 713.23M 2,376.61M
Diluted EPS 1.80 1.88 1.78 1.69 1.40
Dividends Per Share 0.26 0.41 0.39 0.38 --
Total Assets 206,481.79M 256,784.86M 258,310.27M 304,257.94M 375,280.03M
Total liabilities 89,886.11M 117,419.15M 113,836.15M 152,059.62M 205,217.72M
Total equity 107,911.53M 130,266.32M 134,968.10M 142,935.23M 161,019.42M
Operating cash flow 15,267.72M 16,101.70M -15,725.99M 1,216.69M 12,475.24M
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 18,444.18M 18,640.99M 15,799.12M 14,629.39M 15,641.89M
Gross Profit 2,636.38M 2,406.55M 2,027.35M 1,952.42M 2,268.83M
Operating income 166.47M -109.94M -340.63M -340.38M -156.76M
Income before tax 326.48M -0.88M -184.82M -136.18M -34.33M
Net income 2,008.71M 2,080.57M 1,961.45M 1,860.82M 1,563.55M
EBITDA 466.46M 212.62M 30.67M 91.02M 306.42M
Diluted EPS 0.23 0.24 0.22 0.21 0.18
Dividends Per Share 0.03 0.05 0.05 0.04 --
Total Assets 26,631.98M 32,848.27M 32,992.55M 39,048.48M 48,399.18M
Total liabilities 11,593.49M 15,020.42M 14,539.66M 19,515.33M 26,466.55M
Total equity 13,918.41M 16,663.85M 17,238.73M 18,344.31M 20,766.38M
Operating cash flow 1,966.86M 2,066.22M -2,006.49M 155.28M 1,608.46M

Valuation Measures

Dec 2020
PER6.42
ROA3.56%
ROE7.97%
Operating margin-1.00%
Profit margin9.99%

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
  • Deputy General Manager-Accounting & Finance: Yuk Tong Chan

Shareholders

  • Westwood Global Investments LLC (8.8%)
  • Standard Chartered Private Equity Ltd. (8.4%)
  • Invesco Asset Management Ltd. (5.9%)
  • Fidelity Management & Research Co. LLC (5.9%)
  • Edinburgh Partners Ltd. (5.3%)
  • Eastspring Investments (Singapore) Ltd. (4.9%)
  • FIL Investment Management (Hong Kong) Ltd. (3.8%)
  • The Vanguard Group, Inc. (3.1%)
  • FIL Investment Management (Singapore) Ltd. (2.3%)
  • Wellington Management Co. LLP (2.3%)

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

  • Beiqi Foton Motor Co., Ltd. Class A
  • Great Wall Motor Co., Ltd. Class H
  • Xuchang Yuandong Drive Shaft Co., Ltd. Class A
  • PACCAR Inc
  • KAMAZ PTC
  • China Yuchai International Limited
  • Rayhoo Motor Dies Co. Ltd. Class A
  • Tianjin Motor Dies Co. Ltd. Class A
Last Updated on 24 Jun, 2021

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