Dongfeng Automobile Company
|Traded as||SSE: 600006|
|Founded||21 July 1999|
|Founder||Dongfeng Motor Corporation|
|Products||Light commercial vehicle|
|Revenue||CN¥16.018 billion (2016)|
|Profit||CN¥219 million (2016)|
|Total assets||CN¥21.505 billion (2016)|
|Total equity||CN¥6.507 billion (2016)|
|Owner||Dongfeng Motor Co., Ltd. (60.1%)|
|Parent||Dongfeng Motor Co., Ltd.|
|Footnotes / references
in consolidated financial statement
|Dongfeng Automobile Co., Ltd.|
Dongfeng Automobile Co., Ltd. known as DFAC, is a Chinese automobile company. It is a subsidiary of Dongfeng Motor Co., Ltd. (DFL); DFL is a joint venture of Dongfeng Motor Group (DFG) and Nissan; DFG is Dongfeng Motor Corporation, a Chinese state-owned enterprise.
It makes Light commercial vehicles for the Chinese market.:8 It also makes diesel engines in a 50-50 joint venture with Cummins, Inc. known as Dongfeng Cummins Engine Co. Ltd (DCEC, Chinese: 东风康明斯发动机有限公司).:133
Dongfeng Automobile Company Limited (DFAC, Chinese: 东风汽车股份有限公司) was incorporated as a subsidiary (70% shares) of Dongfeng Motor Corporation (Chinese: 东风汽车公司) on 21 July 1999.:61 In the same year the rest of the shares were floated in the Shanghai Stock Exchange.:61
In 2001, the shares held by Dongfeng Motor Corporation were transferred to an intermediate parent company Dongfeng Motor Group (Chinese: 东风汽车集团股份有限公司).:61 In 2003, the shares were transferred again, to a Sino-Japanese joint venture Dongfeng Motor Co., Ltd. (Chinese: 东风汽车有限公司).:61
DFAC acquired 51% stake of Zhengzhou Nissan Automobile in 2005 for CN¥352 million from two other state-owned companies: CITIC Automobile (of CITIC Group) and Zhengzhou Light Vehicle Works (Chinese: 郑州轻型汽车制造厂). DFAC also subscribed a capital increase of Zhengzhou Nissan, for CN¥530 million in 2008. On 13 June 2017, DFAC announced to sell Zhengzhou Nissan to parent company Dongfeng Motor Co., Ltd. for about CN¥788 million, subject to the approval of extraordinary general meeting. It was approved on 28 June.
- As of 31 December 2016
DFAC was majority owned by Dongfeng Motor Co., Ltd., making DFAC was indirectly owned by the Chinese Government (via Dongfeng Motor Corporation), the French State (via Renault), H share shareholders of Dongfeng Motor Group and other shareholders of Nissan and Renault (via Nissan).
- "2016 Annual Report" (PDF) (in Chinese). Dongfeng Automobile Co., Ltd. 15 April 2017. Retrieved 28 July 2017.
- "2005 Annual Report" (PDF) (in Chinese). Dongfeng Automobile Company. 24 March 2006. Retrieved 28 July 2017.
- "关于转让控股子公司郑州日产股权的关联交易公告" (PDF) (Press release) (in Chinese). Dongfeng Automobile Company. 1 June 2017. Retrieved 28 July 2017.
- "2017年第二次临时股东大会决议公告" (PDF) (Press release) (in Chinese). Dongfeng Automobile Company. 29 June 2017. Retrieved 28 July 2017.
- How Cummins Does It: The engine maker runs different game plans in India and China businessweek.com, AUGUST 22, 2005 Archived April 18, 2011, at the Wayback Machine.
- Introduction Dongfeng Automobile Co. Ltd. Official Site
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