无锡威孚高科技集团股份有限公司 2015 年年度报告摘要
Stock Code: 000581、200581 Public Notice No: 2016-004
Short Form of the Stock: Weifu High- Tech, Su Weifu-B
Weifu High-Technology Group Co., Ltd.
Summary of Annual Report 2015
I. Important Notice
The summary is abstract from full-text of annual report, for more details of operating results, financial condition and future
development plan of the Company; investors should found in the full-text of annual report that published on media appointed by
CSRC.
Statement
No directors, supervisors or senior management declare the authenticity, accuracy and integrity of the report cannot be guaranteed or
there is objection.
Other directors attending the Meeting for annual report deliberation except for the followed
Name of director absent Title for absent director Reasons for absent Attorney
Chen Yudong Director On a business trip Rudolf Maier
Prompt of non-standard audit opinion
□ Applicable √ Not applicable
Profit distribution pre-plan of common stock or capitalizing of common reserves pre-plan deliberated by the Board in the reporting
period
√Applicable □Not applicable
Whether has capitalizing of common reserves carried out
□Yes √ No
The profit distribution plan that deliberated and approved by the Board is: based on total stock issued 1,008,950,570 shares,
distributed 5 Yuan (tax included) bonus in cash for every 10-share hold by all shareholders, 0 shares bonus issued (tax included) and
no capitalizing of common reserves carried out.
Profit distribution pre-plan of preferred stock deliberated and approved by the Board in the reporting period
□ Applicable √ Not applicable
Company Profile
Short form of the stock Weifu High- Tech, Su Weifu-B Stock code 000581、200581
Stock exchange for listing Shenzhen Stock Exchange
Person/Way to contact Secretary of the Board Rep. of security affairs
Name Zhou Weixing Yan Guohong
Office add. No.5, Huashan Road, New District, Wuxi City No.5, Huashan Road, New District, Wuxi City
Fax. 0510-80505199 0510-80505199
Tel. 0510-80505999 0510-80505999
E-mail wfjt@public1.wx.js.cn wfjt@public1.wx.js.cn
1
无锡威孚高科技集团股份有限公司 2015 年年度报告摘要
II. Main business or product introduction in the reporting period
(I) Main business of the company
1. The company belongs to auto parts industry, and its main business products include diesel fuel injection system
products, exhaust after-treatment system products and air management system products.
2. Main uses of the company's products
(1) The diesel fuel injection system products are widely used in different power diesel engines supporting all types
of trucks, passenger cars, buses, construction machinery, marine, and generator sets. The company not only makes
products matching with the main engines used at home but also exports some products to the Americas, Southeast
Asia, and the Middle East. The products meet the needs of emission regulations of CN III & IV standards.
(2) The exhaust after-treatment system products mainly support the major manufacturers of automobile,
motorcycle and general machinery at home which meet the emission standards of CN IV (Euro IV) and the above.
(3) The wheel diameter range of air management system products (supercharger) covers 30mm to 125mm whole
series which matches with most of the domestic small-bore diesel engine plants and some six-cylinder diesel
engine manufacturers and meet the needs of the light and heavy commercial vehicles and some passenger cars.
The company has the vacuum valve control that meets the emission standards of Euro IV & Euro V, the
electronically controlled variable geometry turbochargers, the titanium-aluminum alloy superchargers, the electric
superchargers, the ceramic ball bearing superchargers and some kinds of gasoline engine turbochargers.
3. Business model of the company
The company follows the operating philosophy of making competitive products, creating famous brands, striving
for first choices, and creating value for the users, implements the business model that parent company unifies the
management and subsidiaries decentralize the production. Namely, the group company is responsible for making
strategic development planning and operation targets, and making the unified management, instruction and
assessment for the finance, significant personnel management, core raw materials, quality control, and technology
of the subsidiaries. The subsidiaries arrange production based on the order management model of market, which
makes the subsidiaries keep the consistent quality with the company, helps keep abreast of customer needs and
saving logistics costs, maintain the timeliness of products production and supply, and improve the company’s
economic benefits.
During the reporting period, the company’s business model has no significant changes.
(II) Development stage and periodic characteristics of the industry the company involves and the company's
industry position during the reporting period
China's economy has entered a "new normal" which is an important period of transition, and the economic growth
shall lay more emphasis on quality and efficiency. In this important period of strategic opportunities, the state will
promote and encourage innovations and make greater efforts for energy saving and emission reduction, therefore,
the upgrade of vehicle emission standards is in an irreversible trend, while the government will also further
increase the supervision and renovation to motor vehicle exhaust emissions, so the upgrade of diesel fuel injection
system technology, the improvement of exhaust after-treatment system technology and the expansion of air
management system market represent the general trends, which shall bring new development opportunities to the
company.
After 50 years of development, the company has become a backbone enterprise making core components for
domestic automobile (power engineering), over the years, the company has been closely following the upgrade
progress of national vehicle emission standards, positively making strategic layout, and strengthening the
technical reserves, and has formed significant industrial advantages now. The company has the complete range of
diesel fuel injection system products at home; the exhaust after-treatment system technology has obvious
advantages, the company is an important supplier for the after-treatment market of Chinese independent brand
automobiles, and possesses technical advantages in the collection of catalyst and after-treatment system
integration, its technical level, market size and production capacity are in the leading position at home; the air
management system (supercharger) products cover the full range, and the technical strength is in the leading
position at home and is ready on the basis of the CN IV standard. At present, the company has completed the
whole industry chain layout from the air management system, diesel fuel injection system to the exhaust
after-treatment system, is able to provide customers with systematic integrated solutions, and has the most
complete product reserves with CN IV standard.
2
无锡威孚高科技集团股份有限公司 2015 年年度报告摘要
III. Main accounting data and financial indexes
1. Main accounting data and financial indexes for recently three years
Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed and accounting
error correction or not
□Yes √ No
In RMB
2015 2014 Changes over last year 2013
Operating income 5,741,643,746.42 6,354,480,020.38 -9.64% 5,589,307,689.55
Net profit attributable to shareholders
1,515,388,285.71 1,539,439,686.81 -1.56% 1,108,221,450.83
of the listed company
Net profit attributable to shareholders
of the listed company after deducting 1,232,371,453.62 1,404,877,811.26 -12.28% 1,013,085,655.87
non-recurring gains and losses
Net cash flow arising from operating
542,045,770.17 889,899,654.79 -39.09% 803,958,123.13
activities
Basic earnings per share
1.49 1.51 -1.32% 1.09
(RMB/Share)
Diluted earnings per share
1.49 1.51 -1.32% 1.09
(RMB/Share)
Weighted average ROE 13.32% 15.05% -1.73% 12.12%
Changes over end of
End of 2015 End of 2014 End of 2013
last year
Total assets 15,704,093,069.04 14,488,589,167.90 8.39% 13,074,232,730.91
Net assets attributable to shareholder
11,783,228,273.39 10,859,034,688.96 8.51% 9,600,765,223.81
of listed company
2. Quarterly main financial index
In RMB
First quarter Second quarter Third quarter Fourth quarter
Operating income 1,782,232,936.10 1,608,204,987.54 1,109,803,414.23 1,241,402,408.55
Net profit attributable to
434,369,050.00 611,618,150.83 247,876,993.79 221,524,091.09
shareholders of the listed company
Net profit attributable to
shareholders of the listed company
389,141,510.92 494,860,448.98 216,154,225.24 132,215,268.48
after deducting non-recurring gains
and losses
Net cash flow arising from
208,387,101.74 229,899,049.11 148,682,741.63 -44,923,122.31
operating activities
Whether there are significant differences between the above-mentioned financial index or its total number and the relevant financial
index disclosed in the company’s quarterly report and semi-annual report
□Yes √ No
3
无锡威孚高科技集团股份有限公司 2015 年年度报告摘要
IV. Shares and shareholders
1. Particulars about common stock shareholders, preference shareholders with voting rights recovered and
top ten shareholders
In Share
Total common Total preference
Total common stock Total preference shareholders
stock shareholders with
shareholders at end of last with voting rights recovered at
shareholders in 60,624 58,573 voting rights 0 0
month before annual end of last month before annual
reporting recovered at end of
report disclosed report disclosed
period-end reporting period
Top ten shareholders
Amount of Number of shares
Proportion Amount of pledged/frozen
Nature of restricted
Full name of Shareholders of shares
shareholder shares held shares State of Amo
held
held share unt
State-owned
Wuxi Industry Development Group Co., Ltd 20.22% 204,059,398
corporate
Foreign
ROBERT BOSCH GMBH 14.16% 142,841,400
corporate
State-owned
China Securities Finance Corporation Limited 3.02% 30,506,369
corporate
Foreign
UBS AG 2.20% 22,240,948
corporate
Foreign
Kangjian Assets Management Company –Client’s fund 1.57% 15,881,792
corporate
State-owned
Central Huijin Assets Management Co., Ltd. 1.27% 12,811,200
corporate
Foreign
BBH BOS S/A FIDELITY FD - CHINA FOCUS FD 1.23% 12,382,279
corporate
Foreign
Puxin Investment Company- Client’s fund 1.12% 11,347,877
corporate
Foreign
MERRILL LYNCH INTERNATIONAL 1.12% 11,303,625
corporate
Foreign
RBC EMERGING MARKETS EQUITY FUND 0.78% 7,826,264
corporate
Among the top ten shareholders, there has no associated
relationship between Wuxi Industry Development Croup
Co., Ltd. and other shareholders, the first largest
Explanation on associated relationship among the aforesaid
shareholder of the Company; and they do not belong to the
shareholders
consistent actionist regulated by the Management Measure
of Information Disclosure on Change of Shareholding for
Listed Company.
Explanation on shareholders involving margin business (if applicable) Not applicable
2. Total preferred stock shareholders of the Company and shares held by top ten shareholders with
preferred stock held
□ Applicable √ Not applicable
The Company had no shareholders with preferred stock held in the reporting.
3. Property right and controlling relationships between the actual controllers of the Company and the
Company is as follows:
4
无锡威孚高科技集团股份有限公司 2015 年年度报告摘要
State-owned Assets Supervision & Administration
Commission of Wuxi Municipality of Jiangsu Province
100%
Wuxi Industry Development Croup Co., Ltd.
20.22%
Weifu High-Technology Group Co., Ltd.
V. Discussion and analysis by the Management Team
1. Introduction of operation in the reporting period
(I) General introduction
Production and marketing on national auto market during 2015 achieved 24.5 million and 24.6 million
respectively, announced by China Association of Automobile Manufactures, respectively increased by 3.3% and
4.7% year-on-year, including 21.08 million and 21.15 million respectively for production and marketing of
passenger cars, respectively securing 5.8% and 7.3% year-on-year growth rate, and 3.42 million and 3.45 million
of commercial vehicles with the decrease rate of 10% and 9% year-on-year respectively.
In 2015, the volume of vehicle production and sales is smooth and steady and the growth slows down, the sales of
commercial vehicles is still sluggish under the dual pressures of macroeconomic slowdown and upgrade of CN IV
emission regulations, the production and sales of medium and heavy commercial vehicles declines significantly
with production of 0.73 million and sales of 0.74 million, respectively declined by 25% and 24% on a
year-on-year basis. In the face of severe market situation, the company seizes all opportunities, feasibly promotes
the adjustment of industrial structure, refines the management, strictly controls the risks and costs, and strives to
maintain the stable development. The production and sales of automobile exhaust after-treatment system products
grows significantly and becomes an important business growth point of the company.
Operation revenue of RMB 5.742 billion for the reporting period, down 9.64% on a year-on-year basis; net profit
attributable to parent company of RMB 1.515 billion, an decrease of 1.56% from the year-ago period; total assets
of RMB 15.704 billion, a 8.39% up year-on-year and equity attributable to owners of parent company of RMB
11.783 billion, up 8.51% on a year-on-year basis.
(II)Major works
1. Strengthen the product development and testing capability building, promote the research and development of
new products for three systems
Actively promote the laboratory testing capability building, and the laboratory testing capability building of Weifu
Engineering Technology Research Institute has obtained the national certification. The research and development
and testing capability building of electronic control system has possessed EMC and electrical performance testing
capabilities and can do the loop simulation test to electronic control components of the company’s three main
system products. In the pre-research aspects of new energy projects, the company has signed a service funding
agreement with the international well-known institutions which lays a foundation for promoting the research and
development of new products and the development of new projects of the company’s three systems.
2. Actively carry out the strategic development plan, and strive to achieve the sustainable development of the
company.
Establish the working committee for the group’s strategic development plan, and comprehensively plan the
corporate strategic development plan. Pay close attention to the macroeconomic situation, actively track the
development direction of new technologies, timely analyze the automotive market situation, plan the business
development orientation of the company's three systems, define the future development goals and development
focuses, and enhance the group's business sustainability strength.
3. Deepen the concept of lean production, and enhance quality management level and production efficiency
Strengthen the quality risk control methods, utilize the scientific quality method to focus on the process change
risks, gradually shift the quality work focus from quality inspection (afterwards) to quality assurance (in the
process) and quality prevention (beforehand), and effectively control and resolve the quality problems. Make full
use of the information platform of manufacturing system, timely analyze the manufacturing operating conditions,
5
无锡威孚高科技集团股份有限公司 2015 年年度报告摘要
and achieve the dynamic management. Promote the system continuous improvement, constantly optimize the field
management, and improve the manufacturing capacity and production efficiency.
4. Vigorously promote the information construction, information application effect is obvious
Further improve the group informatization infrastructure, complete the construction of group network access
control system, achieve the logic integration within various departments of the group, promote the use of the
group UC unified communications system, and complete the storage expansion work for data center.
Accelerate the application of information technology and achieve remarkable results. In 2015, basically realize the
unification of group OA platform and the standardization of business process; start the group Business
Intelligence (Phase I) project; promote and implement ERP (Phase II) project in key business divisions and
subsidiaries; the group SRM Phase I project accesses system building stage, create the unified group purchasing
management platform after coming online, and establish the standardized management system for supplier
management.
5. Improve the construction of management system, and enhance the company's operational management level
Further strengthen the group's financial management and control capability, improve the group's target cost
management, implement the construction of management accounting system, carry out the value stream analysis,
implement the cost difference analysis, reduce the costs, and improve the efficiency; enhance the project cost
control, introduce the budget management mechanism, build the open platform for open tendering, and strive to
reduce the procurement costs and engineering construction costs. Build the group’s distributor records, complete
the distributor management system, establish the customer monthly dynamic early warning mechanisms and
timely follow up and analyze, build the risk firewall to ensure the assets safety of the group; arrange the group’s
capital management, strengthen the beforehand prevention and audit, and strive to maximize the capital gains.
6. Promote the talent optimization development strategy, actively carry out the medium and long term incentive
mechanism
Establish the group potential talents plan selection and training mechanism, implement the core talent motivation
and management mechanism, and comprehensively carry out the dynamic planning for core talent posts. Build the
incentive fund operation and management platform. Promote and carry out the medium and long term incentive
mechanism, and provide guarantee for the development of core talent team. Further improve the group’s human
resources integration and internal recruitment deployment platform construction to adapt the requirements of
group strategy and internal business adjustment.
2. Whether the main business had major change in the reporting period
□ Yes √ No
3. About the industries, products, or regions accounting for over 10% of the company’s operating income or
operating profit
√Applicable □Not applicable
In RMB
Increase/decrease Increase/decrease Increase/decrease
Gross profit
Name Operating revenue Operating cost of operating of operating cost of gross profit
ratio
revenue y-o-y y-o-y ratio y-o-y
Automobile fuel
3,032,437,947.90 2,171,238,753.25 28.40% -27.04% -27.19% 0.15%
injection system
Intake system 213,835,708.36 161,413,488.46 24.52% 10.85% 12.30% -0.97%
Automotive post
2,173,329,188.32 1,793,878,640.71 17.46% 39.03% 43.95% -2.82%
processing system
4. Whether the characteristics of management seasonal or cyclical need special attention
□ Yes √ No
5. In the reporting period, note of major changes in operating income, operating cost, total net profit
attributable to common stock shareholders of listed company or composing the previous reporting period
□ Applicable √ Not applicable
6. Particular about suspended and delisting
□ Applicable √ Not applicable
6
无锡威孚高科技集团股份有限公司 2015 年年度报告摘要
VI. Relevant items involving financial report
1. Particulars about the changes in aspect of accounting policy, estimates and calculation method compared
with the financial report of last year
□ Applicable √ Not applicable
No particulars about the changes in aspect of accounting policy, estimates or calculation method in Period.
2. Major accounting errors within reporting period that needs retrospective restatement
□ Applicable √ Not applicable
No major accounting errors within reporting period that needs retrospective restatement for the Company in the period.
3. Compare with last year’s financial report; explain changes in consolidation statement’s scope
√Applicable □Not applicable
During the reporting period, the subsidiary - Weifu Leader has invested money to establish Wuxi
Weifu Leader Catalytic Converter (Wuhan) Co., Ltd., Weifu Leader holds 60% of stock rights
which are included in the consolidated statements in the current year.
4. Explanation on “Qualified Opinion” from the Certified Public Accountants in the report period by the
Board of Directors and Supervisory Committee
□ Applicable √ Not applicable
Board of Directors of
Weifu High-Technology Group Co., Ltd.
19 April 2016
7
首页
微信公众号
证券之星APP
