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Dongfeng Motor Group

From Wikipedia, the free encyclopedia

Not to be confused with Dongfeng Motor Co., Ltd., a joint venture.
Not to be confused with Dongfeng Automobile Company, associate company.
Not to be confused with Dongfeng Motor Corporation, the parent company.
Dongfeng Motor Group
DFG
Formerly
  • Dongfeng Motor Co., Ltd.
  • Dongfeng Automobile Industry Investment Co., Ltd.
TypePublic
unlisted(A share)
SEHK: 489(H share)
ISINCNE100000312
IndustryAutomotive
Founded18 May 2001; 22 years ago (2001-05-18)
FounderDongfeng Motor Corporation
HeadquartersDongfeng Road,
Wuhan, Hubei
,
China
Area served
Worldwide
Production output
Decrease 2,900,000 (2021) [1]
Brands
RevenueIncrease CN¥125.016 billion (2017)
Increase CN¥014.063 billion (2017)
Total assetsIncrease CN¥212.492 billion (2017)
Total equityIncrease CN¥108.201 billion (2017)
Owner
SASAC (via Dongfeng Motor Corporation)(66.86%)
Number of employees
146,843 (end 2017)
Chinese name
Simplified Chinese东风汽车集团股份有限公司
Traditional Chinese東風汽車集團股份有限公司
Literal meaningDongfeng Motor Group Joint-stock Limited Corporation
Chinese short name
Simplified Chinese东风集团
Traditional Chinese東風集團
Literal meaningDongfeng Group
Websitewww.dfmg.com.cn
Footnotes / references
in consolidated financial statement; financial figure of the joint ventures were consolidated by equity method;[2] figure of production volume are including joint ventures

Dongfeng Motor Group Co., Ltd., doing business as DFG, is a Chinese holding company based in Wuhan, Hubei. Its H shares were listed on the Hong Kong stock exchange.

Dongfeng Motor Group formed several joint ventures with other foreign automobile makers, namely Luxgen, Honda, Renault-Nissan and Stellantis (which created by the merger of Fiat Chrysler Automobiles and Groupe PSA). It also leased several trademarks from the parent company Dongfeng Motor Corporation since 2005.[3]: 41 

Dongfeng Motor Group was ranked 550th in 2017 Forbes Global 2000 List.[4] As of 30 April 2018, the market capitalization of its H shares (about 33.15% of total share capital [3]: 166 ) was HK$24.931 billion.[5]

History

Dongfeng Motor Group (then known as Dongfeng Motor Co., Ltd.) was incorporated on 18 May 2001 as a special purpose vehicle for debt-to-equity swap of Dongfeng Motor Corporation.[6]: 89  The other shareholders were fellow state-owned financial companies China Huarong Asset Management, China Cinda Asset Management, China Orient Asset Management, China Great Wall Asset Management and China Development Bank for a total of 42.86% stake.[6]: 89  In 2003, [new] Dongfeng Motor Co., Ltd. was incorporated as a joint venture of Dongfeng Motor Group and Nissan. Dongfeng Motor Group, at that time still known as [old] Dongfeng Motor Co., Ltd., was renamed to Dongfeng Automobile Industry Investment.[6]: 89 

In August 2004 Dongfeng Motor Group bought back all the stakes of Dongfeng Motor Group from other stakeholders, for a total of CN¥4.6 billion.[6]: 98  It also became a "company limited by shares" (Chinese: 股份有限公司, analog of public limited company) in October 2004, with a new name Dongfeng Motor Group.[6]: 99  The company issued H share and became a listed company on 7 December 2005.[3][5]

In 2014 the plan to establish Dongfeng Commercial Vehicle was approved by the National Development and Reform Commission. It would acquire some business and assets from the joint venture Dongfeng Motor Co., Ltd. In turn Volvo acquired 45% stake of Dongfeng Commercial Vehicle from Dongfeng Motor Group. At the same time Dongfeng Nissan Diesel Motor would be a wholly owned subsidiary of Dongfeng Commercial Vehicle.[7] In January 2015, Dongfeng Commercial Vehicle was established.[8]

Subsidiaries

As of 24 December 2023 [3]: 2 
Name Chinese name Percentage
Voyah Automotive Technology Co., Ltd. 岚图汽车科技有限公司 55
Dongfeng Motor Group Co., Ltd. Mengshi Automotive Technology Co., Ltd. 东风汽车集团股份有限公司猛士汽车科技公司 55
Dongfeng Commercial Vehicle 东风商用车有限公司 55[3]: 150 
Dongfeng Liuzhou Motor 东风柳州汽车有限公司 75[3]: 150 
Dongfeng Motor Finance 东风汽车财务有限公司 100[3]: 150 
China Dongfeng Motor Industry Import and Export 中国东风汽车工业进出口有限公司 [3]: 150 
Dongfeng Electrical Vehicle 东风电动车辆股份有限公司 90.07[3]: 150 
Dongfeng Off-road Vehicle 东风越野车有限公司 100[3]: 150 
Dongfeng (Shiyan) Special Purpose Commercial Vehicle 东风（十堰）特种商用车有限公司 75.08[3]: 150 
Dongfeng Peugeot Citroën Automobile Sales 东风标致雪铁龙汽车销售有限责任公司 50[3]: 150 
Dongvo (Hangzhou) Truck 东沃(杭州)卡车有限公司 [3]: 150 
  • Dongfeng (Wuhan) Engineering Consulting
  • Dongfeng Motor Investment (Shanghai)
  • Dongfeng Getrag Automobile Transmission
  • Honda Motor (China) Investment

Divisions

As of 31 December 2016 [3]: 2 

Joint ventures

As of 27 August 2018

Equity interests

As of 31 December 2016
  • Dongfeng Nissan Auto Finance (35%)[3]: 157 
  • Stellantis (3.17%)[13]
  • Wuhan Lear-DFM Auto Electric (25%)[3]: 157 

Shareholders

As of 31 December 2016,[3]: 22  Dongfeng Motor Corporation is the largest shareholder for 66.86% shares. It was followed by Standard Chartered (2.81%), Prudential plc (2.64%), BlackRock (2.00%) and Edinburgh Partners (1.78%), all were H share owners and acted as investment managers (trustees).

References

  1. ^ "Autoline Daily". Retrieved 3 March 2022.
  2. ^ "2017 Annual Report" (PDF). Dongfeng Motor Group. 27 April 2018. Retrieved 12 May 2018 – via Hong Kong Exchanges and Clearing website.
  3. ^ a b c d e f g h i j k l m n o p q r s t u v w "2016 Annual Report" (PDF). Dongfeng Motor Group. 27 April 2017. Archived (PDF) from the original on 28 July 2017. Retrieved 28 July 2017.
  4. ^ "Dongfeng Motor Group on the Forbes Growth Champions List". forbes.com. Archived from the original on 2 September 2017. Retrieved 25 April 2018.
  5. ^ a b "List of H Share Companies (Main Board)". Hong Kong Stock Exchange. 30 April 2018. Retrieved 12 May 2018.
  6. ^ a b c d e Prospectus. Dongfeng Motor Group. 24 November 2005. Archived from the original on 29 July 2017. Retrieved 29 July 2017.
  7. ^ "东风汽车集团股份有限公司和沃尔沃集团重组东风商用车业务项目通过核准" (Press release) (in Chinese). National Development and Reform Commission. 7 January 2014. Archived from the original on 29 July 2017. Retrieved 29 July 2017.
  8. ^ "Dongfeng Commercial Vehicles Co., Ltd. Joint Venture Officially Established" (Press release). Dongfeng Motor Group. 28 January 2015. Archived from the original on 2 August 2017. Retrieved 30 July 2017.
  9. ^ a b c "2016 Annual Report" (PDF) (in Chinese). Dongfeng Automobile Co., Ltd. 15 April 2017. Archived (PDF) from the original on 28 July 2017. Retrieved 28 July 2017.
  10. ^ "关于转让控股子公司郑州日产股权的关联交易公告" (PDF) (in Chinese). Dongfeng Automobile Company. 1 June 2017. Archived (PDF) from the original on 28 July 2017. Retrieved 28 July 2017.
  11. ^ "아진산업(주)-대우전자부품(주), 중국 2위 동풍자동차그룹과 합자기업 설립의향서 체결". www.ytn.co.kr (in Korean). 21 November 2017. Retrieved 2018-10-16.
  12. ^ "Ajin Industrial to set up joint company with Dongfeng Industrial - MarkLines Automotive Industry Portal". www.marklines.com. 4 July 2018. Retrieved 2018-10-16.
  13. ^ "Stellantis N.V. (formerly Fiat Chrysler Automobiles N.V.) Annual Report and Form 20-F for the year ended December 31, 2020" (PDF). Stellantis. 4 March 2021. p. 6.

External links

This page was last edited on 24 December 2023, at 12:30
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