As of May 2018[update], DFAC is a constituent of small cap index SSE 380 Index.[2]
History
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 first annual general meeting.[3] In the same year the rest of the shares were floated on the Shanghai 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 company Dongfeng 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 a debt 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 its electric bus assembly line.[6]
Subsidiaries
current
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former
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 (of CITIC 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 of extraordinary general meeting.[8][9] It was approved on 28 June.[10]
Joint ventures
Dongfeng Cummins Engine Co., Ltd. (Chinese: 东风康明斯发动机有限公司; abb. DCEC), a joint venture of Cummins and Dongfeng in Xiangyang (formerly called Xiangfan), was established in 1995.[11] It manufactured heavy duty vehicle engines.[12]
The Chinese Government also owned an additional 2.74% shares via their sovereign wealth fund Central Huijin as the second largest shareholder of Dongfeng Automobile Company.
Products
DFAC
The light commercial vehicle products of Dongfeng Automobile Company are sold under the DFAC brand.
Dongfeng DFAC Xiaobawang V
Dongfeng DFAC Xiaobawang W (Suzuki Carry based, later rebranded as Tuyi T3)/ Xiaobawang W08/ Xiaobawang
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. The Dongfeng 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 Xiaobawang V
Dongfeng Xiaobawang W18
Dongfeng Duolika D5 II
Dongfeng Xiaobawang W
Dongfeng Xiaobawang
201,449 units (2017)
CN¥201 million (2017)
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