 | |||||||
| DFAC | |||||||
| Company type | Public | ||||||
| ISIN | CNE000000ZT3 | ||||||
| Industry | Automobile | ||||||
| Founded | 21 July 1999; 26 years ago (1999-07-21) | ||||||
| Founder | Dongfeng Motor Corporation | ||||||
| Headquarters | , China | ||||||
| Products | Light commercial vehicle | ||||||
Production output |  201,449 units (2017) | ||||||
| Revenue | CN¥18.301 billion (2017) | ||||||
 CN¥201 million (2017) | |||||||
| Total assets | CN¥17.788 billion (2017) | ||||||
| Total equity | CN¥6.700 billion (2017) | ||||||
| Owner | Dongfeng Motor Co., Ltd. (60.1%) | ||||||
Number of employees | 6,624 (2017) | ||||||
| Parent | Dongfeng Motor Co., Ltd. | ||||||
| Chinese name | |||||||
| Simplified Chinese | 东风汽车股份有限公司 | ||||||
| Traditional Chinese | 東風汽車股份有限公司 | ||||||
| Literal meaning | Dongfeng Motor Joint-stock Limited Corporation | ||||||
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| Chinese short name | |||||||
| Simplified Chinese | 东风汽车 | ||||||
| Traditional Chinese | 東風汽車 | ||||||
| Literal meaning | Dongfeng Motor | ||||||
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| Second alternative name | |||||||
| Simplified Chinese | 东风股份 | ||||||
| Traditional Chinese | 東風股份 | ||||||
| Literal meaning | Dongfeng Joint-stock | ||||||
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| Website | www | ||||||
| Footnotes / references inconsolidated financial statement; figure included discontinued subsidiary Zhengzhou Nissan[1] | |||||||
Dongfeng Automobile Co., Ltd. (abb.DFAC) is a Chinese automobile company based inXiangyang,Hubei. It is a subsidiary ofDongfeng Motor Co., Ltd. (DFL) which is a joint venture ofDongfeng Motor Group (DFG) andNissan. DFG is majority owned byDongfeng Motor Corporation, a Chinesestate-owned enterprise.
It makeslight commercial vehicles for the Chinese market.[1]: 10 It also makesdiesel engines in a 50-50 joint venture withCummins, Inc. known as Dongfeng Cummins Engine Co. Ltd.[1]: 151
As of May 2018[update], DFAC is a constituent of small cap indexSSE 380 Index.[2]
The predecessors of Dongfeng Automobile Company, were a light commercial vehicles factory, an engine factory and a foundry[nb 1] of Dongfeng Motor Corporation,[nb 2][3] that were located in Xiangyang, Hubei province. Founded in Shiyan in 1969,[4] the ultimate parent company Dongfeng Motor Corporation was headquartered in Wuhan, the provincial capital of Hubei since 2003.[5] However, the headquarter of Dongfeng Automobile Company was remained at Xiangyang.
The first factory of Dongfeng Motor in Xiangyang was first built in 1983.[4]
Dongfeng Automobile Company Limited (Chinese:东风汽车股份有限公司;abb. DFAC) was incorporated as a subsidiary (70% shares) of Dongfeng Motor Corporation on 21 July 1999, the date of receiving the license of incorporation,[1]: 73 or 15 July, the date of the firstannual general meeting.[3] In the same year the rest of the shares were floated on theShanghai Stock Exchange.[3] The company also signed a leasing agreement with Dongfeng Motor Corporation, regarding the land lease and trademarks.[3]
In 2001, the shares held by Dongfeng Motor Corporation were transferred to an intermediate parent companyDongfeng Motor Group (Chinese:东风汽车集团股份有限公司; known as Dongfeng Motor Co., Ltd. (Chinese:东风汽车有限公司) at that time), as part of adebt restructuring.[1]: 73 In 2003, the shares were transferred again, to a Sino-Japanese joint venture [new]Dongfeng Motor Co., Ltd. (Chinese:东风汽车有限公司).[1]: 73
In 2010, it was reported that the company started to build itselectric bus assembly line.[6]
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DFAC acquired 51% stake of Zhengzhou Nissan Automobile (Chinese:郑州日产汽车有限公司) in 2005 for CN¥352 million from two other state-owned companies: CITIC Automobile (ofCITIC Group) and Zhengzhou Light Vehicle Works (Chinese:郑州轻型汽车制造厂).[7] DFAC also subscribed a capital increase of Zhengzhou Nissan, for CN¥530 million in 2008.[8] On 13 June 2017, DFAC announced to sell Zhengzhou Nissan to the direct parent company Dongfeng Motor Co., Ltd. for about CN¥788 million, subject to the approval ofextraordinary general meeting.[8][9] It was approved on 28 June.[10]
Dongfeng Cummins Engine Co., Ltd. (Chinese:东风康明斯发动机有限公司;abb. DCEC), a joint venture ofCummins and Dongfeng in Xiangyang (formerly called Xiangfan), was established in 1995.[11] It manufactured heavy duty vehicle engines.[12]
DFAC was majority owned by a joint ventureDongfeng Motor Co., Ltd., making DFAC was indirectly owned by the Chinese Government (via Dongfeng Motor Corporation), theFrench State (via Renault),H share shareholders ofDongfeng Motor Group and other shareholders ofNissan andRenault (via Nissan).
The Chinese Government also owned an additional 2.74% shares via their sovereign wealth fundCentral Huijin as the second largest shareholder of Dongfeng Automobile Company.
The light commercial vehicle products of Dongfeng Automobile Company are sold under the DFAC brand.
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The electric light commercial vehicle products of Dongfeng Automobile Company are Dongfeng Electric Light Trucks sold under the DFAC or Captain (凯普特) brand.[13]
The electric commercial vans of Dongfeng Automobile Company are mainly developed for the logistics industry and are mainly rebadged variants of gasoline-powered vans sold under the Yufeng series. TheDongfeng Yufeng was originally a full size van,[14] which later spawned an electric variant called the Yufeng EM19 which became the start of the Yufeng series.
The light commercial vehicle products of Dongfeng Automobile Company are sold under the Dongfeng Automobile Company subsidiary, Vasol (Dongfeng Huashen) (东风华神) brand.
| Dongfeng Motor Group (66.86%) |
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