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1 2010 年 6 年 年年 June 2010, Shanghai

1 2010 年 6 月 上海 June 2010, Shanghai. Contents 2009 DFG Business and Finance Performance Outlook of PRC Auto Industry and DFG in 2010 2009 PRC Auto Industry

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Page 1: 1 2010 年 6 月 上海 June 2010, Shanghai. Contents 2009 DFG Business and Finance Performance Outlook of PRC Auto Industry and DFG in 2010 2009 PRC Auto Industry

1

2010 年 6 月 上海 June 2010, Shanghai

Page 2: 1 2010 年 6 月 上海 June 2010, Shanghai. Contents 2009 DFG Business and Finance Performance Outlook of PRC Auto Industry and DFG in 2010 2009 PRC Auto Industry

Contents

2009 DFG Business and Finance Performance

Outlook of PRC Auto Industry and DFG in 2010

2009 PRC Auto Industry Overview

2

DFG Introduction

Page 3: 1 2010 年 6 月 上海 June 2010, Shanghai. Contents 2009 DFG Business and Finance Performance Outlook of PRC Auto Industry and DFG in 2010 2009 PRC Auto Industry

3

DFG IntroductionDFG Introduction

Page 4: 1 2010 年 6 月 上海 June 2010, Shanghai. Contents 2009 DFG Business and Finance Performance Outlook of PRC Auto Industry and DFG in 2010 2009 PRC Auto Industry

4

1969 – 1980INITIAL STAGE

艰苦创业

1981- 1993RAPID GROWTH

快速成长

2001 - 今OPENNESS开放发展

SALES(UNITS:10,000 VEHICLES)

销量单位 :万辆

实现利润 13.8亿

1969

19752.5T越野车

5T民用车1978

建成 10万辆生产能力

1986

1993

开展轻、轿建设发展武汉基地

FOUNDATION初创于十堰

2003 JOINT VENTURE & RECOGNIZATION全面合资重组

2000

0

10

20

30

40

50

60

70

80

90(DFG:59)

100(DFG:75)

110

120

1969 1971 1973 1975 1977 1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2008

130(DFG:95)

2009

140

150

160(DFG:105.8)

170

180

190(DFG:143)

1994 - 2000INOVATION&ADJUSTMENT改革调整

2005 OVERSEAS LISTED整体海外上市

PRODUCTION & HISTORIC MILESTONES

发展历程

2009 SELF-OWNED BRAND CAR LAUNCH自主品牌轿车上市

Page 5: 1 2010 年 6 月 上海 June 2010, Shanghai. Contents 2009 DFG Business and Finance Performance Outlook of PRC Auto Industry and DFG in 2010 2009 PRC Auto Industry

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Dongfeng Motor Co.,Ltd东风汽车有限公司

Dongfeng Motor Co.,Ltd东风汽车有限公司

Dongfeng Peugeot Citroen神龙汽车有限公司

Dongfeng Peugeot Citroen神龙汽车有限公司

PSA’S STRATEGIC PARTNER IN PRC 是 PSA 集团在中国的战略伙伴• 注册资本 70 亿元 RMB • 2009 年销售汽车 27 万辆

Dongfeng Honda东风本田汽车有限公司

Dongfeng Honda东风本田汽车有限公司

COOPERATION LEVEL WITH HONDA EXPANDING 与本田的合作程度不断深化• 注册资本 2 亿美元• 2009 年销售汽车 21 万辆

NISSAN’S LARGEST OVERSEAS PARTNER 是日产在全球最大的海外合作伙伴 • 注册资本 167 亿人民币 • 2009 年销售汽车 94.4 万辆

PSA Peugeot Citroën

Dongfeng PV Company东风乘用车公司

Dongfeng PV Company东风乘用车公司

公司成立于 2007 年 7 月, 2009 年 7 月推出第一款车• 2009 年销售汽车 1.87 万辆

DIVERSIFIED INTERNATIONAL CORPORATION主要业务单元

Page 6: 1 2010 年 6 月 上海 June 2010, Shanghai. Contents 2009 DFG Business and Finance Performance Outlook of PRC Auto Industry and DFG in 2010 2009 PRC Auto Industry

6

FOUR MAJOR BASES 四大基地

Wuhan Base: Headquarter, R&D Centre, PV,EV

武汉基地:总部、技术中心、轿车、电动车

Shiyan Base: CV, Mini-Car, Parts, Equipments

十堰基地:中重型商用车、微型车、零部件、装备

Xiangfan Base: LCV, PV ,Engines

襄樊基地:轻型商用车、轿车、发动机Guangzhou Base: PV, Engines

广州基地:乘用车、发动机

SHIYAN十堰

XIANGFAN襄樊 WUHAN

武汉

GUANGZHOU 广州

朝阳

新疆

南充

云南柳州

郑州盐城

杭州

上海

深圳

NATIONWIDE BUSINESS LAYOUT事业布局

Page 7: 1 2010 年 6 月 上海 June 2010, Shanghai. Contents 2009 DFG Business and Finance Performance Outlook of PRC Auto Industry and DFG in 2010 2009 PRC Auto Industry

2009 PRC Auto Industry Overview2009 PRC Auto Industry Overview

Page 8: 1 2010 年 6 月 上海 June 2010, Shanghai. Contents 2009 DFG Business and Finance Performance Outlook of PRC Auto Industry and DFG in 2010 2009 PRC Auto Industry

Highlights of PRC Auto Industry in 2009Highlights of PRC Auto Industry in 2009

1. PRC auto industry has become the world’s largest auto 1. PRC auto industry has become the world’s largest auto market in terms of sales volumemarket in terms of sales volume

2. Benefiting from the government’s stimulus policies and the rising 2. Benefiting from the government’s stimulus policies and the rising disposable income, PRC PV market saw unexpected boomingdisposable income, PRC PV market saw unexpected booming

3. PV consumption has transferred from 13. PV consumption has transferred from 1stst tier cities to mid-western tier cities to mid-western cities due to break out of car demand in those areas cities due to break out of car demand in those areas

4. Local brand vehicles outperformed the market with sharp growth 4. Local brand vehicles outperformed the market with sharp growth of cross-type vehicles of cross-type vehicles

5. SUV maintained higher growth due to individualized demand for 5. SUV maintained higher growth due to individualized demand for auto productsauto products

6. HDT sales was stronger than expected due to recovery of PRC 6. HDT sales was stronger than expected due to recovery of PRC macro economymacro economy

4

Page 9: 1 2010 年 6 月 上海 June 2010, Shanghai. Contents 2009 DFG Business and Finance Performance Outlook of PRC Auto Industry and DFG in 2010 2009 PRC Auto Industry

2009 DFG Business and Finance Performance2009 DFG Business and Finance Performance

Page 10: 1 2010 年 6 月 上海 June 2010, Shanghai. Contents 2009 DFG Business and Finance Performance Outlook of PRC Auto Industry and DFG in 2010 2009 PRC Auto Industry

2009 DFG Business and Finance Performance2009 DFG Business and Finance Performance

2. PV business achieved remarkable growth thanks to the strong 2. PV business achieved remarkable growth thanks to the strong performance of its three major JVsperformance of its three major JVs

3. CV sales was also very strong, with combined sales of HDT 3. CV sales was also very strong, with combined sales of HDT and MDT ranked NO.1 for 6 consecutive yearsand MDT ranked NO.1 for 6 consecutive years

4. Dongfeng own brand PV was successfully launched, with sales in 4. Dongfeng own brand PV was successfully launched, with sales in line with expectation line with expectation

1. DFG 2009 annual sales was 1,430,700 units, recording a new high1. DFG 2009 annual sales was 1,430,700 units, recording a new high

5. Major models showed strong competitive edge; robust sales led to 5. Major models showed strong competitive edge; robust sales led to capacity constraint capacity constraint

6

Page 11: 1 2010 年 6 月 上海 June 2010, Shanghai. Contents 2009 DFG Business and Finance Performance Outlook of PRC Auto Industry and DFG in 2010 2009 PRC Auto Industry

Revenue of PV segment

24649 30200

23991

38664

0

1000020000

3000040000

50000

6000070000

80000

2008 2009

1H 2H

Revenue of CV segment

127858482

819513500

0

5000

10000

15000

20000

25000

2008 20091H 2H

Fast growth of sales revenueFast growth of sales revenue

PV sales revenuePV sales revenue

CV sales revenueCV sales revenue

RMB MN YuanRMB MN Yuan

RMB MN YuanRMB MN YuanRevenue

37896 39046

3267352712

0

20000

40000

60000

80000

100000

2008 20091H 2H

70569

91758

48660

68864

20980 21982

RMB Mn YuanRMB Mn Yuan

7

Page 12: 1 2010 年 6 月 上海 June 2010, Shanghai. Contents 2009 DFG Business and Finance Performance Outlook of PRC Auto Industry and DFG in 2010 2009 PRC Auto Industry

Gross profit and Gross MarginGross profit and Gross Margin EBIT & EBIT RateEBIT & EBIT Rate

Net Profit and NP Margin (Recurring)Net Profit and NP Margin (Recurring) ROEROE (( RecurringRecurring ))

单位:百万元单位:百万元 单位:百万元单位:百万元

单位:百万元单位:百万元 单位:百万元单位:百万元

82069815

11881

17484

609614.6%

17.0% 16.5%

19.10%

16.8%

0

5000

10000

15000

20000

2005 2006 2007 2008 2009

10.0%

12.0%

14.0%

16.0%

18.0%

20.0%

Gross profit Gross profit margin

2670 30294131

51058459

6.4% 6.3%7.0% 7.2%

9.2%

0

2000

4000

6000

8000

10000

2005 2006 2007 2008 2009

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

EBIT EBIT Rate

16012081

6250

39553250(持续性净利润)

3.8%4.3%

5.5% 5.6%

6.8%

0

1000

2000

3000

4000

5000

6000

7000

2005 2006 2007 2008 2009

0.0%1.0%

2.0%3.0%4.0%

5.0%6.0%

7.0%8.0%

Net profi t NP margi n

1220714288

17713

22055

27284

15.8% 17.6%

20.3%

19.9%

25.3%

0

5000

10000

15000

20000

25000

30000

2005 2006 2007 2008 2009

10.0%

15.0%

20.0%

25.0%

30.0%

Shareholders` Equity ROE

8

Page 13: 1 2010 年 6 月 上海 June 2010, Shanghai. Contents 2009 DFG Business and Finance Performance Outlook of PRC Auto Industry and DFG in 2010 2009 PRC Auto Industry

11

7

0

2

4

6

8

10

12

2008 2009

Receivebles turnover days

13.0

34.5

0.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

40.0

2008 2009

EBIT Interest Coverage Ratio

7209

17369

02000

400060008000

10000

120001400016000

1800020000

2008 2009cash and cash equivalents

EBIT Interest Coverage RatioEBIT Interest Coverage Ratio Strong Increase of Cash and Cash EquivalentsStrong Increase of Cash and Cash Equivalents

Accounts Receivable Turnover DaysAccounts Receivable Turnover Days Inventory Turnover DaysInventory Turnover Days

58

43

010203040506070

2008 2009Inventory turnover days

单位:百万元单位:百万元

9

Page 14: 1 2010 年 6 月 上海 June 2010, Shanghai. Contents 2009 DFG Business and Finance Performance Outlook of PRC Auto Industry and DFG in 2010 2009 PRC Auto Industry

Outlook of PRC Auto Industry and Outlook of PRC Auto Industry and DFG Business Plan for 2010DFG Business Plan for 2010

Page 15: 1 2010 年 6 月 上海 June 2010, Shanghai. Contents 2009 DFG Business and Finance Performance Outlook of PRC Auto Industry and DFG in 2010 2009 PRC Auto Industry

Outlook of PRC Auto Industry in 2010Outlook of PRC Auto Industry in 2010

1. PRC auto market will maintain its fast development momentum1. PRC auto market will maintain its fast development momentum

2. There is tremendous growth potential in 22. There is tremendous growth potential in 2ndnd , 3 , 3rdrd tier cities due to constant tier cities due to constant increase of residents’ disposable income and break out of car demandincrease of residents’ disposable income and break out of car demand

3. Local brands continue to maintain a higher growth due to improved 3. Local brands continue to maintain a higher growth due to improved quality, brand image and increased number of first-time buyersquality, brand image and increased number of first-time buyers

5. CV market still benefits from fixed asset investment from the 5. CV market still benefits from fixed asset investment from the government; auto export picks up with recovery of global government; auto export picks up with recovery of global economyeconomy

6. PRC auto market remains to be the most competitive market 6. PRC auto market remains to be the most competitive market worldwide with constant new model launches from major playersworldwide with constant new model launches from major players

4. PRC auto industry will further benefit from the fast development 4. PRC auto industry will further benefit from the fast development of used car and auto financing businessof used car and auto financing business

11

Page 16: 1 2010 年 6 月 上海 June 2010, Shanghai. Contents 2009 DFG Business and Finance Performance Outlook of PRC Auto Industry and DFG in 2010 2009 PRC Auto Industry

DFG Business outlook for 2010DFG Business outlook for 2010

1. DFG will maintain its fast growth momentum and expect new 1. DFG will maintain its fast growth momentum and expect new breakthrough in sales volume in 2010breakthrough in sales volume in 2010

2. DFG will launch more new models to satisfy consumers’ increasing 2. DFG will launch more new models to satisfy consumers’ increasing demand for diversified auto productsdemand for diversified auto products

4.DFG will continue to optimize its distribution network and further 4.DFG will continue to optimize its distribution network and further expand its sales networks in 2expand its sales networks in 2ndnd and 3 and 3rdrd tier cities tier cities

7. DFG will continuously enhance its management and operation capability 7. DFG will continuously enhance its management and operation capability so as to maintain a leading profitabilityso as to maintain a leading profitability

5. DFG will further strengthen its CV business so as to consolidate its 5. DFG will further strengthen its CV business so as to consolidate its leading position in HDT and MDT marketleading position in HDT and MDT market

6. DFG will strive to improve its innovation and R&D capability, and further 6. DFG will strive to improve its innovation and R&D capability, and further strengthen the competitive edge of its own brand PV business and the strengthen the competitive edge of its own brand PV business and the development of its new energy vehicle businessdevelopment of its new energy vehicle business

3. DFG will steadily expand production capacity based on product 3. DFG will steadily expand production capacity based on product arrangementarrangement