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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 2021 HKDUSD
Revenue136,198.47M17,522.36M
Gross Profit15,770.18M2,028.88M
Operating income-6,167.06M-793.41M
Income before tax-1,017.19M-130.86M
Net income13,723.73M1,765.60M
EBITDA-1,445.04M-185.90M
Diluted EPS1.590.20
Dividends Per Share0.340.04
Total Assets391,159.98M50,172.51M
Total liabilities202,092.04M25,921.53M
Total equity180,238.40M23,118.45M
Operating cash flow28,129.62M3,618.96M
Currency in HKDCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 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 2017Dec 2018Dec 2019Dec 2020Dec 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
PER4.06
ROA3.57%
ROE8.04%
Operating margin-4.52%
Profit margin10.07%

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
Last Updated on 25 Nov, 2022

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