0175 Geely Automobile Holdings Limited Annual Report 2011
0175 Geely Automobile Holdings Limited Annual Report 2011
0175 Geely Automobile Holdings Limited Annual Report 2011
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<strong>Annual</strong> <strong>Report</strong> <strong>2011</strong><strong>Geely</strong> <strong>Automobile</strong> <strong>Holdings</strong> <strong>Limited</strong>Management <strong>Report</strong>ExportsThe Group exported 39,600 units of sedans in <strong>2011</strong>, up93% from 2010, and accounted for 9% of the Group’s totalsales volume. The Group’s share of China’s total exports ofsedans decreased slightly from 11.5% in 2010 to 10.6% in<strong>2011</strong>. “<strong>Geely</strong> KingKong”, “<strong>Geely</strong> Panda”, “Free Cruiser” and“EC7” were the most popular export models in terms ofsales volume in <strong>2011</strong>, which together accounting for 87%of the Group’s total export sales volume during the period.Developing countries in Eastern Europe, Middle East andCentral and South America remained the most importantmarkets for the Group’s exports. Amongst which, the mostimportant export destinations in terms of sales volume wereUkraine, Russia, Saudi Arabia, Iraq and Chile.The Group’s exports performance continued to improve in<strong>2011</strong>, with monthly export volume averaging 4,369 unitsin the second half of <strong>2011</strong>, significantly higher than theaverage monthly export volume of 2,231 units in the firsthalf of the year. Average monthly export volume improvedfurther to 5,500 units in the first two months of 2012. This,together with the major effort to restructure the Group’sexport channels and to open up new markets, should bodewell for continued strong growth in the Group’s exportvolume in 2012.At the end of <strong>2011</strong>, the Group exported its products to 52countries through 63 sales agents and 351 second tier shopsin these countries. The Group also assembles some modelssold overseas using contract manufacturing arrangementswith local partners in Russia, Ukraine, Indonesia, Taiwanand Egypt, Sri Lanka, Ethiopia and Iraq.Compliance with Government RegulationsTo prepare for the Chinese government’s increasinglystringent requirements on emission control and to preparefor large scale exports in the coming years, the Group hascompleted the upgrading of its products to comply with the“Guo IV” and “Euro IV” emission standards, which are nowrequired in China and most of our export countries. TheGroup will continue to upgrade its products to meet morestringent safety, fuel efficient and emission requirementsimposed by the Chinese government with the target ofrequiring all newly launched models to comply with “GuoV” and “Euro V” emission standards. Production of somemodels in compliance with “Euro V” emission standards isscheduled to start in 2012.Top Export Destinations in <strong>2011</strong>South AfricaTurkeySri LankaChileIraqSaudi ArabiaRussiaUkraineBreakdown of Export Volume by Models in <strong>2011</strong>EC715.0%<strong>Geely</strong> Panda22.0%0 2,000 4,000 6,000Others13.0%DSI <strong>Holdings</strong> Pty <strong>Limited</strong> (“DSIH”)8,000<strong>Geely</strong> Kingkong28.0%Free Cruiser22.0%DSIH is principally engaged in the design, developmentand manufacture of automatic transmissions in Australia,supplying major international automobile original equipmentmanufacturers like Ssangyong Motor Company (SYMC),Mahindra & Mahindra and Ford Motor Australia (Ford).DSIH’s net profit after tax was A$2.0 million on revenue ofA$134 million for the year ended 31 December <strong>2011</strong>. DSIHmanufactured and sold about 75,000 sets of automaticgearboxes in <strong>2011</strong>, as a result of a better-than-expectedsales volume growth of 6-speed Front-wheel-drive (FWD)automatic gearboxes to its current customers.14
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