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Consumer Durables

Yulon Motor Co., Ltd.

  • 21.75 TWD
  • -0.40
  • -1.81%
  • Taiwan
    Jun 22, 2018
  • Ticker
    TAI(2201)
  • Prev. close
    22.15
  • Market cap (TWD)
    34,840.17M
  • Market cap (USD)
    1,150.04M
  • Shares
    1,572.91M

Company Background

Yulon is a major Taiwanese carmaker and distributor. It manufactures and markets Luxgen-brand vehicles, and operates dealerships for Nissan via a joint venture in Taiwan and China. It also distributes Mitsubishi vehicles through affiliate China Motor.

The company was founded by Shanghai-born entrepreneur Yen Tjing-ling in 1953 when Taiwan was trying to establish its own automotive industry after World War II. Yulon started out making car components. After Yen died in 1981, his wife, Vivian Wu Shun-wen, took over the company. She was considered one of Taiwan's most influential business leaders before she died in 2008.

Yulon was one of the first major Taiwanese companies to expand into China in the 1990s, setting up facilities in the southern province of Fujian at a time when Chinese President Xi Jinping, then a senior Communist Party official in the region, was aggressively wooing Taiwanese investment.

Current Chairman Kenneth Yen is the only son of Tjing-ling and Wu. He succeeded Wu as Yulon's chairman in 2007. He has a bachelor's degree in business administration from Rider University in the U.S.

Business Summary

Yulon Motor Co., Ltd. engages in the manufacture and sale of vehicles and related components, It specializes in multi-brand original equipment manufacturer; professional manufacturing services; and green manufacturing such as recycle parts, green design, and acquisition of energy saving mark. The company was founded by Ching Ling Yen on September 10, 1953 and is headquartered in Miaoli, Taiwan.

Financial Highlights

Dec 2017 TWDUSD
Revenue94,107.43M3,093.32M
Gross Profit19,093.21M627.59M
Operating income1,897.02M62.35M
Income before tax2,977.00M97.85M
Net income2,288.30M75.21M
EBITDA9,377.51M308.24M
Diluted EPS1.560.05
Dividends Per Share0.580.01
Total Assets258,416.50M8,683.78M
Total liabilities179,294.95M6,025.00M
Total equity70,432.15M2,366.79M
Operating cash flow-18,145.78M-596.45M
Currency in TWDCurrency in USD

Historical Data

 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 93,217.45M 120,611.26M 122,526.90M 112,166.84M 94,107.43M
Gross Profit 13,528.03M 16,451.59M 17,284.62M 18,475.22M 19,093.21M
Operating income -370.33M 408.37M 279.95M 2,223.89M 1,897.02M
Income before tax 127.53M 530.90M 613.64M 2,443.83M 2,977.00M
Net income 2,371.18M 2,210.34M 3,352.07M 1,334.70M 2,288.30M
EBITDA 6,254.66M 7,253.23M 7,626.62M 9,808.62M 9,377.51M
Diluted EPS 1.62 1.51 2.29 0.91 1.56
Dividends Per Share 0.70 0.70 0.90 0.50 0.58
Total Assets 177,050.35M 202,842.68M 212,002.09M 221,271.64M 258,416.50M
Total liabilities 99,627.04M 122,663.40M 130,795.43M 142,204.80M 179,294.95M
Total equity 67,712.80M 70,001.02M 71,477.92M 69,714.54M 70,432.15M
Operating cash flow 3,685.37M -4,369.25M 2,359.40M -7,744.92M -18,145.78M
 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 3,140.61M 3,980.14M 3,858.62M 3,477.95M 3,093.32M
Gross Profit 455.77M 542.89M 544.32M 572.86M 627.59M
Operating income -12.47M 13.47M 8.81M 68.95M 62.35M
Income before tax 4.29M 17.51M 19.32M 75.77M 97.85M
Net income 79.88M 72.94M 105.56M 41.38M 75.21M
EBITDA 210.72M 239.35M 240.17M 304.13M 308.24M
Diluted EPS 0.05 0.04 0.07 0.02 0.05
Dividends Per Share 0.02 0.02 0.02 0.01 0.01
Total Assets 5,940.58M 6,418.66M 6,454.22M 6,865.60M 8,683.78M
Total liabilities 3,342.79M 3,881.50M 3,981.95M 4,412.32M 6,025.00M
Total equity 2,271.97M 2,215.08M 2,176.08M 2,163.09M 2,366.79M
Operating cash flow 124.16M -144.18M 74.30M -240.14M -596.45M

Valuation Measures

Dec 2017
PER15.48
ROA0.95%
ROE3.26%
Operating margin2.01%
Profit margin2.43%

Key executives

  • General Manager & Director: Chen Hsiang Yao
  • Head-Finance & Accounting: Wen Yi Lo

Shareholders

  • Tai Yuen Textile Co., Ltd. (18.1%)
  • China Motor Corp. (16.6%)
  • YEN KAI TAI KENNETH (10.1%)
  • Nan Shan Life Insurance Co., Ltd. (4.3%)
  • The Vanguard Group, Inc. (1.9%)
  • Civil Servant's Retirement Fund (1.5%)
  • Fan Te Investment Co., Ltd. (1.5%)
  • Dimensional Fund Advisors LP (1.5%)
  • Mercuries Life Insurance Co., Ltd. (Investment Portfolio) (1.4%)
  • Labor Insurance Fund (1.3%)

Contact Details

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Competitors

    Last Updated on 22 Jun, 2018

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